Trimble (NASDAQ:TRMB) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Trimble (NASDAQ:TRMB) from a hold rating to a buy rating in a research report report published on Monday morning.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. upped their target price on Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Oppenheimer reiterated an “outperform” rating and issued a $72.00 price target on shares of Trimble in a research report on Wednesday, August 7th. Piper Sandler upped their price target on Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird upped their price target on Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Trimble currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.40.

Trimble Price Performance

Shares of TRMB opened at $72.95 on Monday. Trimble has a 12-month low of $43.70 and a 12-month high of $74.22. The business has a 50-day simple moving average of $63.95 and a two-hundred day simple moving average of $58.49. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. The stock has a market cap of $17.81 billion, a PE ratio of 12.20, a PEG ratio of 3.09 and a beta of 1.49.

Institutional Investors Weigh In On Trimble

Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its holdings in Trimble by 1,387.6% in the second quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock worth $215,176,000 after acquiring an additional 3,589,249 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Trimble by 2,035.1% in the second quarter. AQR Capital Management LLC now owns 1,146,995 shares of the scientific and technical instruments company’s stock worth $63,635,000 after acquiring an additional 1,093,275 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Trimble by 49.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,056,558 shares of the scientific and technical instruments company’s stock worth $127,692,000 after acquiring an additional 676,954 shares in the last quarter. Impax Asset Management Group plc boosted its holdings in Trimble by 18.7% in the third quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company’s stock worth $169,978,000 after acquiring an additional 434,065 shares in the last quarter. Finally, Sora Investors LLC bought a new position in Trimble in the third quarter worth approximately $22,663,000. Institutional investors own 93.21% of the company’s stock.

About Trimble

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.