Brokerages Set Trimble Inc. (NASDAQ:TRMB) PT at $75.40

Trimble Inc. (NASDAQ:TRMB) has earned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $75.40.

A number of analysts have commented on the stock. Piper Sandler boosted their price target 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. 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, November 8th. JPMorgan Chase & Co. lifted their price target on Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $72.00 price target on shares of Trimble in a research report on Wednesday, August 7th.

Institutional Investors Weigh In On Trimble

Institutional investors and hedge funds have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC acquired a new position in Trimble during the first quarter valued at $354,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Trimble by 1.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 344,742 shares of the scientific and technical instruments company’s stock valued at $22,189,000 after acquiring an additional 5,076 shares in the last quarter. SVB Wealth LLC increased its stake in shares of 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 acquiring an additional 204 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Trimble by 26.6% during 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 acquiring an additional 12,555 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in Trimble by 18.1% during 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 purchasing an additional 725 shares during the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Price Performance

Shares of NASDAQ TRMB opened at $73.95 on Wednesday. The stock has a market cap of $18.06 billion, a P/E ratio of 12.37, a P/E/G ratio of 3.13 and a beta of 1.53. The firm’s 50-day simple moving average is $65.35 and its 200 day simple moving average is $59.03. Trimble has a fifty-two week low of $45.61 and a fifty-two week high of $74.56. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.24.

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.