Analysts Set Trimble Inc. (NASDAQ:TRMB) Target Price at $84.86

Shares of Trimble Inc. (NASDAQ:TRMB - Get Free Report) have earned an average rating of "Buy" from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $84.86.

Several equities analysts recently commented on TRMB shares. StockNews.com upgraded Trimble from a "hold" rating to a "buy" rating in a research report on Thursday, December 12th. Robert W. Baird increased their price objective on Trimble from $82.00 to $90.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th. Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 target price on shares of Trimble in a report on Wednesday, December 11th. Wolfe Research upgraded shares of Trimble from a "peer perform" rating to an "outperform" rating and set a $90.00 target price for the company in a research report on Monday, December 16th. Finally, Oppenheimer lifted their price target on shares of Trimble from $77.00 to $88.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th.

Institutional Trading of Trimble

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. boosted its holdings in Trimble by 96.0% in the second quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company's stock valued at $36,000 after acquiring an additional 313 shares during the last quarter. TD Private Client Wealth LLC grew its position in shares of Trimble by 722.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company's stock worth $37,000 after buying an additional 520 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Trimble during the second quarter worth approximately $48,000. Catalyst Capital Advisors LLC acquired a new position in Trimble in the third quarter valued at approximately $49,000. Finally, Cromwell Holdings LLC boosted its stake in Trimble by 86.6% in the third quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company's stock valued at $50,000 after acquiring an additional 375 shares during the last quarter. 93.21% of the stock is owned by institutional investors.

Trimble Price Performance

NASDAQ:TRMB traded up $0.90 during mid-day trading on Friday, hitting $71.64. The company's stock had a trading volume of 3,390,747 shares, compared to its average volume of 1,354,032. The company has a market capitalization of $17.50 billion, a price-to-earnings ratio of 11.98, a P/E/G 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. Trimble has a fifty-two week low of $48.60 and a fifty-two week high of $76.97. The stock has a fifty day moving average of $68.78 and a 200-day moving average of $60.72.

Trimble Company Profile

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.