StockNews.com Upgrades Trimble (NASDAQ:TRMB) to “Buy”

Trimble (NASDAQ:TRMB) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

A number of other research analysts have also weighed in on TRMB. Robert W. Baird raised their target price on shares of Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Oppenheimer reiterated an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Piper Sandler lifted their price target on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.40.

Trimble Stock Performance

NASDAQ:TRMB opened at $70.62 on Friday. The company has a market cap of $17.25 billion, a P/E ratio of 11.81, a P/E/G ratio of 3.11 and a beta of 1.49. Trimble has a twelve month low of $42.56 and a twelve month high of $74.22. The company’s 50-day moving average price is $62.12 and its 200-day moving average price is $57.90. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24.

Institutional Investors Weigh In On Trimble

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in shares of Trimble by 0.7% in 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 last quarter. Victory Capital Management Inc. lifted its position in Trimble by 41.4% in the third quarter. Victory Capital Management Inc. now owns 5,442,653 shares of the scientific and technical instruments company’s stock valued at $337,934,000 after buying an additional 1,594,732 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Trimble by 7.0% during the second quarter. Thrivent Financial for Lutherans now owns 3,647,641 shares of the scientific and technical instruments company’s stock worth $203,976,000 after buying an additional 239,673 shares during the period. Impax Asset Management Group plc increased its position in shares of Trimble by 18.7% during the third quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company’s stock valued at $169,978,000 after acquiring an additional 434,065 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of Trimble by 25.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock valued at $164,087,000 after acquiring an additional 516,789 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.