Oppenheimer Increases Trimble (NASDAQ:TRMB) Price Target to $88.00

Trimble (NASDAQ:TRMB) had its price objective upped by stock analysts at Oppenheimer from $77.00 to $88.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the scientific and technical instruments company’s stock. Oppenheimer’s price objective would indicate a potential upside of 17.54% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Robert W. Baird increased their price objective on shares of Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and raised their target price for the company from $74.00 to $92.00 in a research note on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and issued a $84.00 price target on shares of Trimble in a report on Wednesday. Finally, StockNews.com downgraded Trimble from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Trimble currently has an average rating of “Buy” and an average target price of $84.00.

Trimble Stock Up 1.2 %

TRMB stock opened at $74.87 on Wednesday. The company has a market capitalization of $18.28 billion, a P/E ratio of 12.52, a PEG ratio of 3.20 and a beta of 1.53. The firm has a 50 day simple moving average of $67.55 and a 200-day simple moving average of $59.98. 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 twelve month low of $47.20 and a twelve month high of $76.97.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in Trimble by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,898,092 shares of the scientific and technical instruments company’s stock valued at $364,984,000 after buying an additional 39,069 shares during the period. Victory Capital Management Inc. boosted its holdings in 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 acquiring an additional 1,594,732 shares during the last quarter. Thrivent Financial for Lutherans grew its stake 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 position in shares of 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 buying an additional 434,065 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Trimble by 49.1% in the third 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. Institutional investors and hedge funds own 93.21% of the company’s stock.

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.