StockNews.com Downgrades Trimble (NASDAQ:TRMB) to Hold

Trimble (NASDAQ:TRMB) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.

TRMB has been the subject of several other reports. Robert W. Baird upped their target price on Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday. Piper Sandler upped their price target on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price target on Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Oppenheimer restated an “outperform” rating and set a $72.00 price target on shares of Trimble in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Trimble currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.40.

Trimble Stock Up 0.7 %

Shares of NASDAQ:TRMB opened at $72.65 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. Trimble has a 52-week low of $40.79 and a 52-week high of $73.17. The stock’s fifty day simple moving average is $60.46 and its 200-day simple moving average is $57.46. The company has a market capitalization of $17.74 billion, a P/E ratio of 12.15, a P/E/G ratio of 3.23 and a beta of 1.49.

Institutional Trading of Trimble

Several large investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC increased its position in shares of Trimble by 31.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 19,135 shares of the scientific and technical instruments company’s stock valued at $1,232,000 after purchasing an additional 4,563 shares during the period. Csenge Advisory Group bought a new stake in shares of Trimble during the 1st quarter worth $217,000. Empirical Finance LLC boosted its stake in shares of Trimble by 4.7% during the 1st quarter. Empirical Finance LLC now owns 6,617 shares of the scientific and technical instruments company’s stock worth $426,000 after acquiring an additional 300 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Trimble during the 1st quarter worth $215,000. Finally, Empowered Funds LLC boosted its stake in shares of Trimble by 15.1% during the 1st quarter. Empowered Funds LLC now owns 5,145 shares of the scientific and technical instruments company’s stock worth $331,000 after acquiring an additional 675 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Company Profile

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.