Trimble (NASDAQ:TRMB) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Trimble (NASDAQ:TRMB) from a hold rating to a buy rating in a research note released on Monday.

Several other research firms also recently issued reports on TRMB. JPMorgan Chase & Co. boosted their price target on 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 boosted their price target on Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Piper Sandler boosted their price target on Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trimble currently has an average rating of “Moderate Buy” and a consensus target price of $75.40.

Trimble Stock Performance

TRMB opened at $72.95 on Monday. The business has a fifty day simple moving average of $63.95 and a 200 day simple moving average of $58.49. The company has a market capitalization of $17.81 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 3.09 and a beta of 1.49. Trimble has a 1 year low of $43.70 and a 1 year high of $74.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07.

Hedge Funds Weigh In On Trimble

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRMB. Principal Financial Group Inc. raised its holdings in shares of Trimble by 18.4% during the 3rd quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company’s stock worth $24,296,000 after buying an additional 60,752 shares in the last quarter. Swedbank AB acquired a new position in shares of Trimble during the 1st quarter worth $17,937,000. Janus Henderson Group PLC raised its holdings in shares of Trimble by 26.6% during the 1st quarter. Janus Henderson Group PLC now owns 59,750 shares of the scientific and technical instruments company’s stock worth $3,845,000 after buying an additional 12,555 shares in the last quarter. Magnetar Financial LLC acquired a new position in shares of Trimble during the 2nd quarter worth $1,752,000. Finally, Raymond James & Associates raised its holdings in shares of Trimble by 27.9% during the 2nd quarter. Raymond James & Associates now owns 164,488 shares of the scientific and technical instruments company’s stock worth $9,198,000 after buying an additional 35,841 shares in the last quarter. 93.21% of the stock is 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.