Wolfe Research Upgrades Trimble (NASDAQ:TRMB) to “Outperform”

Wolfe Research upgraded shares of Trimble (NASDAQ:TRMB) from a peer perform rating to an outperform rating in a research report released on Monday morning, Marketbeat reports. The brokerage currently has $90.00 price target on the scientific and technical instruments company’s stock.

Other equities research analysts have also issued research reports about the company. Piper Sandler reiterated an “overweight” rating and issued a $84.00 target price on shares of Trimble in a research note on Wednesday, December 11th. Sanford C. Bernstein increased their price objective on shares of Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. 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. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. Finally, Robert W. Baird boosted 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, December 11th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $84.86.

Trimble Stock Down 3.0 %

Shares of Trimble stock opened at $70.69 on Monday. Trimble has a twelve month low of $48.60 and a twelve month high of $76.97. The stock has a market cap of $17.26 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 3.15 and a beta of 1.53. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The company has a fifty day moving average price of $68.43 and a 200 day moving average price of $60.48.

Institutional Trading of Trimble

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in shares of Trimble by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,898,092 shares of the scientific and technical instruments company’s stock worth $364,984,000 after acquiring an additional 39,069 shares in the last quarter. Victory Capital Management Inc. increased 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 acquiring an additional 1,594,732 shares during the period. Thrivent Financial for Lutherans raised its stake in Trimble by 7.0% during 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 acquiring an additional 239,673 shares in the last quarter. Impax Asset Management Group plc boosted its position in 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 acquiring an additional 434,065 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake 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 worth $127,692,000 after purchasing an additional 676,954 shares in the last quarter. 93.21% of the stock is 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.