Trimble’s (TRMB) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Trimble (NASDAQ:TRMB) in a research note issued to investors on Wednesday morning,Benzinga reports. Piper Sandler currently has a $84.00 price objective on the scientific and technical instruments company’s stock.

Several other analysts also recently weighed in on TRMB. JPMorgan Chase & Co. raised shares of Trimble from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $74.00 to $92.00 in a research report on Wednesday, December 4th. Robert W. Baird lifted their price objective on shares of Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, StockNews.com cut shares of Trimble from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $84.00.

Trimble Trading Down 1.7 %

NASDAQ TRMB opened at $73.59 on Wednesday. The company’s 50-day simple moving average is $67.78 and its two-hundred day simple moving average is $60.09. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16. Trimble has a one year low of $48.60 and a one year high of $76.97. The company has a market capitalization of $17.97 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 3.16 and a beta of 1.53.

Hedge Funds Weigh In On Trimble

Large investors have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of 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 purchasing an additional 60,752 shares during the period. Magnetar Financial LLC acquired a new position in shares of Trimble in the 2nd quarter valued at $1,752,000. Raymond James & Associates lifted its stake in shares of 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 purchasing an additional 35,841 shares during the period. Benjamin Edwards Inc. increased its holdings 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 worth $2,496,000 after acquiring an additional 17,424 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings 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 worth $337,934,000 after acquiring an additional 1,594,732 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

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.