Trimble Inc. (NASDAQ:TRMB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Trimble Inc. (NASDAQ:TRMB) have been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $75.40.

A number of research analysts have recently commented on the company. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 target price on shares of Trimble in a research note on Wednesday, August 7th. Robert W. Baird upped their price objective on Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Piper Sandler lifted their target price on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped 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. Finally, StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a report on Monday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRMB. Principal Financial Group Inc. boosted its position in Trimble by 18.4% during the 3rd quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company’s stock valued at $24,296,000 after acquiring an additional 60,752 shares in the last quarter. Swedbank AB purchased a new position in Trimble in the first quarter valued at about $17,937,000. Janus Henderson Group PLC grew its stake in Trimble by 26.6% in the first quarter. Janus Henderson Group PLC now owns 59,750 shares of the scientific and technical instruments company’s stock valued at $3,845,000 after purchasing an additional 12,555 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of Trimble during the second quarter valued at about $1,752,000. Finally, Raymond James & Associates boosted its holdings in shares of Trimble by 27.9% in the 2nd quarter. Raymond James & Associates now owns 164,488 shares of the scientific and technical instruments company’s stock valued at $9,198,000 after buying an additional 35,841 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.

Trimble Price Performance

TRMB stock opened at $72.37 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. Trimble has a 12 month low of $43.70 and a 12 month high of $74.22. The stock has a market cap of $17.67 billion, a PE ratio of 12.10, a P/E/G ratio of 3.09 and a beta of 1.49. The company has a 50-day moving average price of $63.95 and a 200 day moving average price of $58.49.

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.