Trimble Inc. (NASDAQ:TRMB) Given Consensus Rating of “Buy” by Brokerages

Trimble Inc. (NASDAQ:TRMB) has received a consensus recommendation of “Buy” from the seven research firms that are covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $84.86.

Several equities analysts recently commented on TRMB shares. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. Sanford C. Bernstein increased their price target on Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Wolfe Research upgraded Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research report on Monday, December 16th. Robert W. Baird upped their target price on Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Piper Sandler reissued an “overweight” rating and set a $84.00 price target on shares of Trimble in a research note on Wednesday, December 11th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TRMB. Farrow Financial Inc. increased its stake in shares of Trimble by 0.5% in the third quarter. Farrow Financial Inc. now owns 39,062 shares of the scientific and technical instruments company’s stock valued at $2,425,000 after buying an additional 192 shares during the period. Empowered Funds LLC increased its position in Trimble by 3.4% during the 3rd quarter. Empowered Funds LLC now owns 5,802 shares of the scientific and technical instruments company’s stock valued at $360,000 after purchasing an additional 193 shares during the period. Profund Advisors LLC raised its holdings in Trimble by 4.6% during the 2nd quarter. Profund Advisors LLC now owns 4,937 shares of the scientific and technical instruments company’s stock worth $276,000 after purchasing an additional 219 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Trimble by 5.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock worth $247,000 after purchasing an additional 219 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Trimble by 4.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,666 shares of the scientific and technical instruments company’s stock valued at $352,000 after purchasing an additional 237 shares during the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Stock Up 1.6 %

TRMB stock opened at $72.72 on Thursday. The firm has a 50-day moving average price of $72.18 and a 200-day moving average price of $62.63. Trimble has a 12 month low of $48.60 and a 12 month high of $76.97. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $17.76 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 3.15 and a beta of 1.52.

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.