Trimble Inc. (NASDAQ:TRMB) Receives $84.86 Consensus Target Price from Analysts

Trimble Inc. (NASDAQ:TRMB) has earned a consensus rating of “Buy” from the seven brokerages that are currently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $84.86.

Several equities analysts have recently commented on the company. Robert W. Baird upped their price target on Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Piper Sandler reaffirmed an “overweight” rating and issued a $84.00 target price on shares of Trimble in a research report on Wednesday, December 11th. Wolfe Research raised shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a research note on Monday, December 16th. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. Finally, Oppenheimer boosted their target price on Trimble from $77.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th.

Institutional Investors Weigh In On Trimble

Hedge funds have recently added to or reduced their stakes in the business. Farrow Financial Inc. increased its position in shares of Trimble by 0.5% during the third quarter. Farrow Financial Inc. now owns 39,062 shares of the scientific and technical instruments company’s stock worth $2,425,000 after acquiring an additional 192 shares during the period. Empowered Funds LLC increased its holdings in Trimble by 3.4% during the 3rd quarter. Empowered Funds LLC now owns 5,802 shares of the scientific and technical instruments company’s stock worth $360,000 after purchasing an additional 193 shares during the period. Profund Advisors LLC raised its position in Trimble by 4.6% in the 2nd quarter. Profund Advisors LLC now owns 4,937 shares of the scientific and technical instruments company’s stock valued at $276,000 after purchasing an additional 219 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Trimble by 5.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock valued at $247,000 after buying an additional 219 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in shares of Trimble by 4.4% during the third quarter. Harbor Capital Advisors Inc. now owns 5,666 shares of the scientific and technical instruments company’s stock worth $352,000 after buying an additional 237 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Trading Up 1.0 %

TRMB opened at $71.87 on Friday. The stock has a market capitalization of $17.55 billion, a PE ratio of 12.02, a P/E/G ratio of 3.15 and a beta of 1.53. Trimble has a one year low of $48.60 and a one year high of $76.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16. The business’s 50 day moving average price is $69.15 and its 200 day moving average price is $60.99.

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.