Trimble Inc. (NASDAQ:TRMB) Given Average Rating of “Buy” by Analysts

Trimble Inc. (NASDAQ:TRMB) has been assigned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $84.86.

Several analysts recently issued reports on TRMB shares. Robert W. Baird raised their target price on Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $74.00 to $92.00 in a research note on Wednesday, December 4th. Oppenheimer raised their price target on Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $84.00 target price on shares of Trimble in a research report on Wednesday, December 11th.

Trimble Price Performance

Shares of Trimble stock opened at $74.92 on Thursday. The firm has a market cap of $18.30 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 2.92 and a beta of 1.52. The company’s fifty day simple moving average is $72.30 and its two-hundred day simple moving average is $63.15. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. Trimble has a 12-month low of $48.60 and a 12-month high of $76.97.

Hedge Funds Weigh In On Trimble

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRMB. Janney Montgomery Scott LLC purchased a new stake in shares of Trimble in the 4th quarter worth about $596,000. Westside Investment Management Inc. grew its holdings in Trimble by 1.2% in the fourth quarter. Westside Investment Management Inc. now owns 20,552 shares of the scientific and technical instruments company’s stock worth $1,452,000 after purchasing an additional 247 shares during the period. Genesis Private Wealth LLC bought a new position in shares of Trimble during the fourth quarter valued at approximately $203,000. Simon Quick Advisors LLC lifted its holdings in shares of Trimble by 34.1% during the fourth quarter. Simon Quick Advisors LLC now owns 13,634 shares of the scientific and technical instruments company’s stock valued at $963,000 after purchasing an additional 3,465 shares during the last quarter. Finally, Lmcg Investments LLC bought a new stake in shares of Trimble in the 4th quarter worth approximately $3,283,000. Hedge funds and other institutional investors 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.