Trimble (NASDAQ:TRMB) Rating Increased to Outperform at Wolfe Research

Wolfe Research upgraded shares of Trimble (NASDAQ:TRMB) from a peer perform rating to an outperform rating in a report issued on Monday, Marketbeat Ratings reports. The brokerage currently has $90.00 price target on the scientific and technical instruments company’s stock.

Several other research firms have also commented on TRMB. JPMorgan Chase & Co. raised shares of Trimble from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $74.00 to $92.00 in a research note on Wednesday, December 4th. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. Sanford C. Bernstein raised their price objective on Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Oppenheimer boosted their target price on Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Piper Sandler restated an “overweight” rating and set a $84.00 price target on shares of Trimble in a report on Wednesday, December 11th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Trimble currently has a consensus rating of “Buy” and a consensus price target of $84.86.

Trimble Stock Performance

Shares of Trimble stock opened at $74.24 on Monday. Trimble has a 12 month low of $48.60 and a 12 month high of $76.97. The firm has a market capitalization of $18.13 billion, a P/E ratio of 12.41, a P/E/G ratio of 3.15 and a beta of 1.53. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The business has a fifty day simple moving average of $68.03 and a two-hundred day simple moving average of $60.29.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Peapack Gladstone Financial Corp boosted its position in shares of Trimble by 6.8% during the third quarter. Peapack Gladstone Financial Corp now owns 4,270 shares of the scientific and technical instruments company’s stock valued at $265,000 after buying an additional 270 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Trimble during the 3rd quarter valued at about $691,000. Sanctuary Advisors LLC boosted its holdings in shares of Trimble by 85.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 12,888 shares of the scientific and technical instruments company’s stock valued at $800,000 after acquiring an additional 5,922 shares during the last quarter. TD Private Client Wealth LLC grew its stake in shares of Trimble by 722.2% in the third quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock worth $37,000 after acquiring an additional 520 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Trimble by 0.7% during the third 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 last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

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.