Analysts Set Trimble Inc. (NASDAQ:TRMB) Price Target at $75.40

Shares of Trimble Inc. (NASDAQ:TRMB) have received a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $75.40.

Several research firms recently commented on TRMB. Piper Sandler raised their target price on Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Oppenheimer reissued an “outperform” rating and set a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on shares of 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 increased their target price on shares of Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Monday, November 25th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. O Shaughnessy Asset Management LLC bought a new position in shares of Trimble during the 1st quarter valued at about $354,000. Price T Rowe Associates Inc. MD boosted its holdings in Trimble by 1.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 344,742 shares of the scientific and technical instruments company’s stock worth $22,189,000 after buying an additional 5,076 shares in the last quarter. SVB Wealth LLC grew its position in Trimble by 4.8% in the first quarter. SVB Wealth LLC now owns 4,445 shares of the scientific and technical instruments company’s stock worth $286,000 after buying an additional 204 shares during the last quarter. Janus Henderson Group PLC grew its position in Trimble by 26.6% in the first 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 during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its holdings in shares of Trimble by 18.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,724 shares of the scientific and technical instruments company’s stock valued at $304,000 after buying an additional 725 shares in the last quarter. Institutional investors own 93.21% of the company’s stock.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $72.97 on Wednesday. The firm’s 50 day moving average is $64.77 and its two-hundred day moving average is $58.79. The firm has a market capitalization of $17.82 billion, a P/E ratio of 12.20, a PEG ratio of 3.10 and a beta of 1.49. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. Trimble has a 52 week low of $45.61 and a 52 week high of $74.22.

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.