Trimble (NASDAQ:TRMB) Cut to “Hold” at StockNews.com

Trimble (NASDAQ:TRMB) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler lifted 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. Oppenheimer restated an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. Finally, Robert W. Baird lifted their target price on Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Trimble presently has an average rating of “Moderate Buy” and a consensus target price of $75.40.

Trimble Price Performance

Shares of TRMB opened at $73.08 on Tuesday. The firm has a market capitalization of $17.85 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 3.12 and a beta of 1.49. The stock’s fifty day moving average is $65.05 and its 200-day moving average is $58.92. Trimble has a one year low of $45.61 and a one year high of $74.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16.

Hedge Funds Weigh In On Trimble

A number of hedge funds and other institutional investors have recently modified their holdings of TRMB. Peapack Gladstone Financial Corp boosted its holdings in shares of Trimble by 6.8% in the third quarter. Peapack Gladstone Financial Corp now owns 4,270 shares of the scientific and technical instruments company’s stock worth $265,000 after buying an additional 270 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Trimble in the 3rd quarter valued at approximately $691,000. Sanctuary Advisors LLC boosted its stake in Trimble by 85.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 12,888 shares of the scientific and technical instruments company’s stock worth $800,000 after purchasing an additional 5,922 shares during the period. TD Private Client Wealth LLC grew its position in Trimble by 722.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock worth $37,000 after purchasing an additional 520 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Trimble by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,898,092 shares of the scientific and technical instruments company’s stock valued at $364,984,000 after purchasing an additional 39,069 shares during the period. Institutional investors and hedge funds 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.