Trimble (NASDAQ:TRMB) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Trimble (NASDAQ:TRMB) from a hold rating to a buy rating in a research note published on Thursday.

TRMB has been the topic of a number of other research reports. Robert W. Baird boosted their price objective on Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday. Piper Sandler reissued an “overweight” rating and set a $84.00 price target on shares of Trimble in a research note on Wednesday. JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $74.00 to $92.00 in a research note on Wednesday, December 4th. Oppenheimer lifted their target price on shares of Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Sanford C. Bernstein boosted their target price on shares of Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $84.00.

Trimble Stock Performance

Shares of Trimble stock opened at $74.87 on Thursday. The company’s 50 day moving average price is $67.55 and its two-hundred day moving average price is $59.98. The firm has a market capitalization of $18.28 billion, a P/E ratio of 12.52, a P/E/G ratio of 3.16 and a beta of 1.53. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07. Trimble has a fifty-two week low of $47.20 and a fifty-two week high of $76.97.

Hedge Funds Weigh In On Trimble

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its position in Trimble by 18.4% during the 3rd quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company’s stock valued at $24,296,000 after purchasing an additional 60,752 shares during the period. Magnetar Financial LLC acquired a new stake in shares of Trimble during the second quarter worth $1,752,000. Raymond James & Associates raised its stake in Trimble by 27.9% during the second quarter. Raymond James & Associates now owns 164,488 shares of the scientific and technical instruments company’s stock worth $9,198,000 after buying an additional 35,841 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in Trimble by 76.5% in the third quarter. Benjamin Edwards Inc. now owns 40,193 shares of the scientific and technical instruments company’s stock valued at $2,496,000 after buying an additional 17,424 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Trimble by 41.4% during 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 acquiring an additional 1,594,732 shares during the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

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.