Trimble (NASDAQ:TRMB) Reaches New 12-Month High – Should You Buy?

Trimble Inc. (NASDAQ:TRMB) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $77.42 and last traded at $77.37, with a volume of 109343 shares changing hands. The stock had previously closed at $76.43.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TRMB. Sanford C. Bernstein lifted their price target on Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Wolfe Research upgraded Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price target for the company in a report on Monday, December 16th. Robert W. Baird boosted their target price on shares of Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Piper Sandler reiterated an “overweight” rating and issued a $84.00 price target on shares of Trimble in a report on Wednesday, December 11th. Finally, Oppenheimer lifted their price objective on shares of Trimble from $77.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Trimble currently has an average rating of “Buy” and a consensus price target of $84.86.

Trimble Stock Up 0.1 %

The company has a market capitalization of $19.05 billion, a PE ratio of 12.96, a P/E/G ratio of 3.21 and a beta of 1.52. The stock has a 50-day moving average of $72.60 and a 200 day moving average of $63.49. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.24.

Insider Buying and Selling

In other news, VP Jennifer Allison sold 3,571 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $74.75, for a total transaction of $266,932.25. Following the transaction, the vice president now owns 3,157 shares of the company’s stock, valued at $235,985.75. This represents a 53.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by insiders.

Hedge Funds Weigh In On Trimble

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