StockNews.com Upgrades Trimble (NASDAQ:TRMB) to Buy

Trimble (NASDAQ:TRMB) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

TRMB has been the subject of a number of other research reports. Piper Sandler boosted their price target on shares of Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Oppenheimer reiterated an “outperform” rating and issued a $72.00 target price on shares of Trimble in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on shares of Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird upped their target price on shares of Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $75.40.

Trimble Stock Performance

Shares of TRMB stock opened at $72.37 on Monday. The firm has a market capitalization of $17.67 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 3.09 and a beta of 1.49. The firm has a fifty day simple moving average of $63.95 and a two-hundred day simple moving average of $58.49. 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.

Hedge Funds Weigh In On Trimble

Hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Private Client Wealth LLC boosted its holdings in shares of Trimble by 722.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock worth $37,000 after buying an additional 520 shares during the last quarter. GPS Wealth Strategies Group LLC boosted its holdings in shares of Trimble by 303.2% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock worth $36,000 after buying an additional 479 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Trimble by 96.0% in the 2nd quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock worth $36,000 after buying an additional 313 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Trimble in the 3rd quarter worth about $49,000. Finally, Cromwell Holdings LLC boosted its holdings in shares of Trimble by 86.6% in the 3rd quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock worth $50,000 after buying an additional 375 shares during the last quarter. 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.