Trimble (NASDAQ:TRMB) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Trimble (NASDAQ:TRMB) from a buy rating to a hold rating in a report issued on Saturday morning.

A number of other equities analysts have also weighed in on the company. Robert W. Baird upped their target price on Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 target price 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 stock a “neutral” rating in a research report on Thursday. Finally, Piper Sandler upped their target price on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s 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 Up 0.7 %

Shares of NASDAQ:TRMB traded up $0.51 during trading on Friday, reaching $72.65. 1,395,675 shares of the stock were exchanged, compared to its average volume of 1,087,406. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 0.88. Trimble has a 1-year low of $40.79 and a 1-year high of $73.17. The stock has a fifty day moving average of $60.46 and a two-hundred day moving average of $57.47. The firm has a market cap of $17.74 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49.

Institutional Investors Weigh In On Trimble

Several institutional investors have recently bought and sold shares of TRMB. Janney Montgomery Scott LLC grew its stake in Trimble by 31.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 19,135 shares of the scientific and technical instruments company’s stock valued at $1,232,000 after purchasing an additional 4,563 shares during the period. Csenge Advisory Group bought a new position in Trimble during the first quarter valued at about $217,000. Empirical Finance LLC increased its holdings in Trimble by 4.7% during the first quarter. Empirical Finance LLC now owns 6,617 shares of the scientific and technical instruments company’s stock worth $426,000 after buying an additional 300 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Trimble in the first quarter worth about $215,000. Finally, Empowered Funds LLC grew its position in shares of Trimble by 15.1% during the 1st quarter. Empowered Funds LLC now owns 5,145 shares of the scientific and technical instruments company’s stock valued at $331,000 after acquiring an additional 675 shares during the period. Institutional investors own 93.21% of the company’s stock.

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.