Brokerages Set Trimble Inc. (NASDAQ:TRMB) PT at $84.86

Trimble Inc. (NASDAQ:TRMB) has been given a consensus rating of “Buy” by the seven analysts that are currently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have covered the stock in the last year is $84.86.

TRMB has been the topic of several research analyst reports. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. Wolfe Research raised Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 target price on the stock in a research note on Monday, December 16th. Robert W. Baird upped their target price on Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and upped their target price for the company from $74.00 to $92.00 in a research note on Wednesday, December 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $84.00 target price on shares of Trimble in a research note on Wednesday, December 11th.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $74.29 on Monday. The business’s 50 day simple moving average is $73.33 and its 200-day simple moving average is $65.69. The firm has a market capitalization of $18.26 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 3.14 and a beta of 1.53. 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 12 month low of $48.65 and a 12 month high of $77.78.

Insider Transactions at Trimble

In related news, VP Jennifer Allison sold 3,571 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $74.75, for a total transaction of $266,932.25. Following the completion of the sale, the vice president now directly owns 3,157 shares of the company’s stock, valued at approximately $235,985.75. This represents a 53.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.47% of the company’s stock.

Institutional Trading of Trimble

A number of institutional investors have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. lifted its position in shares of Trimble by 0.6% during the fourth quarter. Cullen Frost Bankers Inc. now owns 22,969 shares of the scientific and technical instruments company’s stock worth $1,623,000 after purchasing an additional 141 shares during the last quarter. Essex Investment Management Co. LLC lifted its position in shares of Trimble by 0.5% during the fourth quarter. Essex Investment Management Co. LLC now owns 28,546 shares of the scientific and technical instruments company’s stock worth $2,017,000 after purchasing an additional 141 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in shares of Trimble by 12.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,322 shares of the scientific and technical instruments company’s stock worth $93,000 after purchasing an additional 149 shares during the last quarter. M&T Bank Corp lifted its position in shares of Trimble by 1.6% during the fourth quarter. M&T Bank Corp now owns 10,155 shares of the scientific and technical instruments company’s stock worth $717,000 after purchasing an additional 156 shares during the last quarter. Finally, Huntington National Bank raised its stake in Trimble by 10.4% during the fourth quarter. Huntington National Bank now owns 1,768 shares of the scientific and technical instruments company’s stock worth $125,000 after acquiring an additional 167 shares during the period. 93.21% of the stock is owned by hedge funds and other 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.