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

Trimble (NASDAQ:TRMB) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

Several other research firms also recently commented on TRMB. Piper Sandler upped their price objective on shares of Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Robert W. Baird increased their price target on shares of Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Oppenheimer reissued an “outperform” rating and issued a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.40.

Trimble Price Performance

NASDAQ TRMB opened at $72.37 on Monday. The company has a market cap of $17.67 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 3.09 and a beta of 1.49. Trimble has a 52 week low of $43.70 and a 52 week high of $74.22. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. The firm’s 50-day simple moving average is $63.95 and its two-hundred day simple moving average is $58.49.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Trimble by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,898,092 shares of the scientific and technical instruments company’s stock worth $364,984,000 after purchasing an additional 39,069 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Trimble by 41.4% in the third quarter. Victory Capital Management Inc. now owns 5,442,653 shares of the scientific and technical instruments company’s stock worth $337,934,000 after purchasing an additional 1,594,732 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Trimble by 7.0% in the second quarter. Thrivent Financial for Lutherans now owns 3,647,641 shares of the scientific and technical instruments company’s stock worth $203,976,000 after purchasing an additional 239,673 shares during the last quarter. Impax Asset Management Group plc increased its position in shares of Trimble by 18.7% in the third quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company’s stock worth $169,978,000 after purchasing an additional 434,065 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Trimble by 49.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,056,558 shares of the scientific and technical instruments company’s stock worth $127,692,000 after purchasing an additional 676,954 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors.

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.