StockNews.com Upgrades Trimble (NASDAQ:TRMB) to Buy

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

A number of other research firms also recently weighed in on TRMB. Robert W. Baird lifted their price target 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. Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price target on Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Piper Sandler upped their price objective on shares of Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Trimble presently has an average rating of “Moderate Buy” and a consensus price target of $75.40.

Trimble Trading Up 1.2 %

Shares of TRMB stock opened at $70.48 on Friday. Trimble has a 12-month low of $42.85 and a 12-month high of $74.22. The company has a market capitalization of $17.21 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 3.02 and a beta of 1.49. The firm has a 50 day moving average price of $63.03 and a two-hundred day moving average price of $58.15. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.24.

Institutional Investors Weigh In On Trimble

A number of hedge funds have recently added to or reduced their stakes in TRMB. GPS Wealth Strategies Group LLC grew its holdings in shares of Trimble by 303.2% during the second quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 479 shares during the last quarter. Blue Trust Inc. lifted its position in Trimble by 96.0% in the 2nd quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after acquiring an additional 313 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in Trimble by 722.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock valued at $37,000 after purchasing an additional 520 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Trimble during the 2nd quarter worth approximately $48,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Trimble in the third quarter worth approximately $49,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

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.