Trimble Inc. (NASDAQ:TRMB) Short Interest Down 19.5% in October

Trimble Inc. (NASDAQ:TRMB) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 3,050,000 shares, a decrease of 19.5% from the October 15th total of 3,790,000 shares. Based on an average trading volume of 1,250,000 shares, the short-interest ratio is currently 2.4 days. Currently, 1.3% of the shares of the stock are sold short.

Trimble Trading Down 2.6 %

NASDAQ TRMB opened at $70.74 on Friday. Trimble has a 12 month low of $42.54 and a 12 month high of $74.22. The stock has a market capitalization of $17.28 billion, a P/E ratio of 11.83, a PEG ratio of 3.24 and a beta of 1.49. The firm’s 50-day moving average is $61.79 and its two-hundred day moving average is $57.84. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07.

Hedge Funds Weigh In On Trimble

Hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its stake in Trimble by 41.4% during 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 in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Trimble by 7.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 3,647,641 shares of the scientific and technical instruments company’s stock valued at $203,976,000 after buying an additional 239,673 shares during the period. Impax Asset Management Group plc lifted its stake in Trimble by 18.7% during the 3rd 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 acquiring an additional 434,065 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Trimble by 25.4% during the 1st quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock valued at $164,087,000 after acquiring an additional 516,789 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Trimble by 49.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,056,558 shares of the scientific and technical instruments company’s stock valued at $127,692,000 after acquiring an additional 676,954 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TRMB. Oppenheimer restated an “outperform” rating and set a $72.00 target price on shares of Trimble in a report on Wednesday, August 7th. Piper Sandler upped their target price on Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. StockNews.com cut shares of Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. JPMorgan Chase & Co. raised their price objective on shares of Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird boosted their target price on shares of Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Trimble has a consensus rating of “Moderate Buy” and a consensus target price of $75.40.

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.