Trimble (NASDAQ:TRMB) Price Target Raised to $82.00 at Robert W. Baird

Trimble (NASDAQ:TRMB - Free Report) had its target price hoisted by Robert W. Baird from $66.00 to $82.00 in a report issued on Friday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the scientific and technical instruments company's stock.

Several other equities analysts have also weighed in on the stock. StockNews.com upgraded shares of Trimble from a "hold" rating to a "buy" rating in a report on Friday, November 1st. Oppenheimer reaffirmed an "outperform" rating and set a $72.00 target price on shares of Trimble in a research report on Wednesday, August 7th. Piper Sandler lifted their price target on shares of Trimble from $73.00 to $84.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Trimble from $66.00 to $74.00 and gave the stock a "neutral" rating in a report on Thursday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $75.40.

Trimble Trading Up 0.7 %

Shares of TRMB traded up $0.51 during trading hours on Friday, hitting $72.65. 1,300,123 shares of the stock were exchanged, compared to its average volume of 1,348,144. The firm has a market capitalization of $17.74 billion, a P/E ratio of 11.96, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 0.88. Trimble has a fifty-two week low of $40.79 and a fifty-two week high of $73.17. The business has a 50-day moving average of $60.14 and a 200-day moving average of $57.39.

Trimble (NASDAQ:TRMB - Get Free Report) last released its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. The business had revenue of $870.80 million during the quarter, compared to analysts' expectations of $862.50 million. Trimble had a return on equity of 10.18% and a net margin of 40.67%. The firm's revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 earnings per share. On average, research analysts expect that Trimble will post 2.25 EPS for the current year.

Institutional Trading of Trimble

Institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its stake in Trimble by 21.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 32,631 shares of the scientific and technical instruments company's stock valued at $2,026,000 after purchasing an additional 5,660 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Trimble during the third quarter valued at about $1,963,000. Claro Advisors LLC bought a new stake in Trimble in the third quarter worth about $237,000. Mizuho Securities USA LLC grew its position in shares of Trimble by 361.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 86,836 shares of the scientific and technical instruments company's stock valued at $5,392,000 after acquiring an additional 68,005 shares during the period. Finally, Empowered Funds LLC increased its stake in shares of Trimble by 3.4% during the 3rd quarter. Empowered Funds LLC now owns 5,802 shares of the scientific and technical instruments company's stock worth $360,000 after purchasing an additional 193 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

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.