Trimble Inc. (NASDAQ:TRMB) Short Interest Update

Trimble Inc. (NASDAQ:TRMB) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 3,050,000 shares, a decline of 19.5% from the October 15th total of 3,790,000 shares. Currently, 1.3% of the company’s stock are sold short. Based on an average daily trading volume, of 1,250,000 shares, the short-interest ratio is presently 2.4 days.

Trimble Trading Down 0.2 %

Shares of TRMB stock opened at $70.62 on Friday. The stock has a fifty day simple moving average of $62.12 and a two-hundred day simple moving average of $57.90. Trimble has a 52-week low of $42.56 and a 52-week high of $74.22. The firm has a market capitalization of $17.25 billion, a PE ratio of 11.81, a PEG ratio of 3.11 and a beta of 1.49. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16.

Institutional Investors Weigh In On Trimble

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRMB. GPS Wealth Strategies Group LLC boosted its holdings in shares of Trimble by 303.2% in the second quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 479 shares during the period. Blue Trust Inc. raised its holdings in shares of Trimble by 96.0% in the second quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock worth $36,000 after buying an additional 313 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Trimble during the 2nd quarter valued at about $48,000. Catalyst Capital Advisors LLC purchased a new position in Trimble during the 3rd quarter worth approximately $49,000. Finally, Cromwell Holdings LLC boosted its holdings in Trimble by 86.6% in the third quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock valued at $50,000 after purchasing an additional 375 shares during the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TRMB has been the subject of several recent research reports. Piper Sandler boosted their target price on shares of Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on shares of Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Robert W. Baird raised their price target on Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 target price on shares of Trimble in a report on Wednesday, August 7th. Finally, StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a report on Sunday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $75.40.

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.