Trimble Inc. (NASDAQ:TRMB) Short Interest Update

Trimble Inc. (NASDAQ:TRMB) was the target of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 2,060,000 shares, a decline of 33.8% from the November 15th total of 3,110,000 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average trading volume of 1,290,000 shares, the days-to-cover ratio is currently 1.6 days.

Wall Street Analysts Forecast Growth

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

Trimble Trading Down 1.7 %

TRMB stock opened at $73.59 on Friday. The business has a fifty day moving average price of $67.78 and a 200 day moving average price of $60.12. 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 $48.60 and a fifty-two week high of $76.97. The stock has a market capitalization of $17.97 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 3.15 and a beta of 1.53.

Institutional Trading of Trimble

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. grew its holdings in Trimble by 96.0% during the 2nd quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock worth $36,000 after acquiring an additional 313 shares during the last quarter. GPS Wealth Strategies Group LLC grew its stake 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 purchasing an additional 479 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Trimble by 722.2% in the third 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 in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Trimble in the second quarter valued at approximately $48,000. Finally, Catalyst Capital Advisors LLC bought a new position in Trimble in the 3rd quarter worth approximately $49,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

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.