StockNews.com Downgrades Trimble (NASDAQ:TRMB) to Hold

Trimble (NASDAQ:TRMB) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Several other brokerages also recently weighed in on TRMB. JPMorgan Chase & Co. raised their target price on shares of Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. Robert W. Baird raised their target price on shares of Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Piper Sandler raised their price target on shares of Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $79.00.

Trimble Price Performance

NASDAQ TRMB opened at $75.28 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16. The firm’s 50 day moving average price is $65.65 and its 200-day moving average price is $59.15. Trimble has a 52-week low of $45.61 and a 52-week high of $76.97. The company has a market cap of $18.38 billion, a PE ratio of 12.51, a P/E/G ratio of 3.13 and a beta of 1.53.

Institutional Trading of Trimble

Institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. grew its position in shares of Trimble by 18.4% in the third 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 purchasing an additional 60,752 shares during the period. Magnetar Financial LLC acquired a new stake in shares of Trimble in the second quarter valued at about $1,752,000. Raymond James & Associates grew its position in shares of Trimble by 27.9% in the second quarter. Raymond James & Associates now owns 164,488 shares of the scientific and technical instruments company’s stock valued at $9,198,000 after purchasing an additional 35,841 shares during the period. Victory Capital Management Inc. grew 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 valued at $337,934,000 after purchasing an additional 1,594,732 shares during the period. Finally, National Pension Service boosted its position in Trimble by 13,597.7% during the third quarter. National Pension Service now owns 23,971 shares of the scientific and technical instruments company’s stock worth $1,488,000 after acquiring an additional 23,796 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

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.