Trimble (NASDAQ:TRMB) Price Target Raised to $88.00 at Oppenheimer

Trimble (NASDAQ:TRMB) had its price target increased by Oppenheimer from $77.00 to $88.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the scientific and technical instruments company’s stock. Oppenheimer’s price objective indicates a potential upside of 17.54% from the stock’s previous close.

Several other analysts have also commented on the stock. StockNews.com lowered shares of Trimble from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. raised shares of Trimble from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $74.00 to $92.00 in a report on Wednesday, December 4th. Robert W. Baird raised their price objective on Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Piper Sandler restated an “overweight” rating and set a $84.00 price objective on shares of Trimble in a research report on Wednesday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $84.00.

Trimble Trading Up 1.2 %

Shares of TRMB stock opened at $74.87 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07. Trimble has a 1-year low of $47.20 and a 1-year high of $76.97. The stock has a market capitalization of $18.28 billion, a PE ratio of 12.52, a P/E/G ratio of 3.20 and a beta of 1.53. The business has a 50-day moving average of $67.55 and a 200 day moving average of $59.98.

Hedge Funds Weigh In On Trimble

Institutional investors have recently made changes to their positions in the company. Farrow Financial Inc. raised its holdings in Trimble by 0.5% in the 3rd quarter. Farrow Financial Inc. now owns 39,062 shares of the scientific and technical instruments company’s stock valued at $2,425,000 after acquiring an additional 192 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Trimble by 3.4% during the third quarter. Empowered Funds LLC now owns 5,802 shares of the scientific and technical instruments company’s stock worth $360,000 after purchasing an additional 193 shares in the last quarter. Profund Advisors LLC lifted its position in shares of Trimble by 4.6% during the 2nd quarter. Profund Advisors LLC now owns 4,937 shares of the scientific and technical instruments company’s stock worth $276,000 after buying an additional 219 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Trimble by 5.8% in the third quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock valued at $247,000 after acquiring an additional 219 shares during the period. Finally, Harbor Capital Advisors Inc. increased its stake in Trimble by 4.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,666 shares of the scientific and technical instruments company’s stock valued at $352,000 after buying an additional 237 shares during the period. 93.21% of the stock is owned by hedge funds and other institutional investors.

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.