Trimble Inc. (NASDAQ:TRMB) Receives $84.86 Average Price Target from Analysts

Trimble Inc. (NASDAQ:TRMB) has received an average rating of “Buy” from the seven brokerages that are currently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $84.86.

A number of research analysts recently commented on TRMB shares. Wolfe Research upgraded Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 target price for the company in a research note on Monday, December 16th. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $74.00 to $92.00 in a research report on Wednesday, December 4th. Oppenheimer increased their target price on Trimble from $77.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Finally, Sanford C. Bernstein boosted their target price on Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th.

Institutional Trading of Trimble

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farrow Financial Inc. boosted its position in Trimble by 0.5% during the third quarter. Farrow Financial Inc. now owns 39,062 shares of the scientific and technical instruments company’s stock worth $2,425,000 after purchasing an additional 192 shares during the period. Empowered Funds LLC lifted its holdings in shares of Trimble by 3.4% in the third quarter. Empowered Funds LLC now owns 5,802 shares of the scientific and technical instruments company’s stock worth $360,000 after acquiring an additional 193 shares during the last quarter. Profund Advisors LLC lifted its stake in shares of Trimble by 4.6% in the 2nd quarter. Profund Advisors LLC now owns 4,937 shares of the scientific and technical instruments company’s stock valued at $276,000 after acquiring an additional 219 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Trimble by 5.8% in the third quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock valued at $247,000 after buying an additional 219 shares during the period. Finally, Harbor Capital Advisors Inc. raised its position in Trimble by 4.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,666 shares of the scientific and technical instruments company’s stock worth $352,000 after purchasing an additional 237 shares during the last quarter. 93.21% of the stock is owned by institutional investors.

Trimble Stock Up 0.6 %

Shares of TRMB opened at $72.30 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16. The company has a 50-day simple moving average of $69.58 and a 200-day simple moving average of $61.14. Trimble has a 52 week low of $48.60 and a 52 week high of $76.97. The firm has a market capitalization of $17.66 billion, a P/E ratio of 12.09, a P/E/G ratio of 3.15 and a beta of 1.53.

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.