Trimble Inc. (NASDAQ:TRMB) Short Interest Update

Trimble Inc. (NASDAQ:TRMB) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 3,050,000 shares, a decrease of 19.5% from the October 15th total of 3,790,000 shares. Currently, 1.3% of the company’s stock are sold short. Based on an average daily volume of 1,250,000 shares, the days-to-cover ratio is currently 2.4 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in 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 buying an additional 39,069 shares during the last quarter. Vestcor Inc boosted its stake in shares of Trimble by 43.7% in the 3rd quarter. Vestcor Inc now owns 5,157 shares of the scientific and technical instruments company’s stock valued at $320,000 after purchasing an additional 1,569 shares in the last quarter. Barclays PLC increased its holdings in shares of Trimble by 4.3% during the third quarter. Barclays PLC now owns 743,319 shares of the scientific and technical instruments company’s stock worth $46,151,000 after buying an additional 30,457 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Trimble by 0.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 69,733 shares of the scientific and technical instruments company’s stock valued at $4,330,000 after buying an additional 624 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Trimble during the third quarter worth $2,362,000. 93.21% of the stock is currently owned by institutional investors.

Trimble Trading Down 0.2 %

NASDAQ:TRMB opened at $70.62 on Friday. The stock has a market capitalization of $17.25 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 3.11 and a beta of 1.49. Trimble has a fifty-two week low of $42.56 and a fifty-two week 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. The business’s 50-day simple moving average is $62.12 and its 200-day simple moving average is $57.90.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Sunday. JPMorgan Chase & Co. increased their price objective on Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Oppenheimer restated an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research report on Wednesday, August 7th. 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, Robert W. Baird boosted their price objective 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. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.40.

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.