Trimble (NASDAQ:TRMB) Given New $85.00 Price Target at Sanford C. Bernstein

Trimble (NASDAQ:TRMBFree Report) had its price target upped by Sanford C. Bernstein from $82.00 to $85.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the scientific and technical instruments company’s stock.

Other equities research analysts have also issued reports about the company. StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Robert W. Baird increased their price target on Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $74.00 to $92.00 in a research report on Wednesday, December 4th. Oppenheimer increased their price target on Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Piper Sandler restated an “overweight” rating and set a $84.00 price target on shares of Trimble in a research report on Wednesday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Trimble presently has a consensus rating of “Buy” and an average price target of $84.00.

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Trimble Trading Down 1.7 %

TRMB stock opened at $73.59 on Wednesday. Trimble has a 1-year low of $48.60 and a 1-year high of $76.97. The firm has a market cap of $17.97 billion, a P/E ratio of 12.31, a P/E/G ratio of 3.16 and a beta of 1.53. The business’s 50 day moving average is $67.78 and its 200-day moving average is $60.09. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in Trimble by 18.4% in the 3rd 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 buying an additional 60,752 shares during the last quarter. Magnetar Financial LLC bought a new position in Trimble in the 2nd quarter valued at $1,752,000. Raymond James & Associates boosted its position in Trimble by 27.9% in the 2nd quarter. Raymond James & Associates now owns 164,488 shares of the scientific and technical instruments company’s stock valued at $9,198,000 after buying an additional 35,841 shares during the last quarter. Benjamin Edwards Inc. boosted its position in Trimble by 76.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 40,193 shares of the scientific and technical instruments company’s stock valued at $2,496,000 after buying an additional 17,424 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Trimble by 41.4% in the 3rd 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 buying an additional 1,594,732 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors.

About Trimble

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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.

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