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

Trimble Inc. (NASDAQ:TRMB - Get Free Report) has earned a consensus rating of "Buy" from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $84.86.

A number of brokerages recently issued reports on TRMB. Sanford C. Bernstein boosted their price target on Trimble from $82.00 to $85.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Piper Sandler reiterated an "overweight" rating and issued a $84.00 price target on shares of Trimble in a report on Wednesday, December 11th. Robert W. Baird upped their target price on Trimble from $82.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. StockNews.com upgraded Trimble from a "hold" rating to a "buy" rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. upgraded Trimble from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $74.00 to $92.00 in a report on Wednesday, December 4th.

Insider Activity

In other news, VP Jennifer Allison sold 3,571 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $74.75, for a total transaction of $266,932.25. Following the completion of the sale, the vice president now owns 3,157 shares in the company, valued at approximately $235,985.75. This represents a 53.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.47% of the company's stock.

Institutional Trading of Trimble

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Trimble in the 4th quarter valued at $190,391,000. Boston Partners increased its position in shares of Trimble by 217.3% in the 4th quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company's stock valued at $239,802,000 after acquiring an additional 2,312,937 shares during the period. Victory Capital Management Inc. increased its position in shares of 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. TimesSquare Capital Management LLC acquired a new position in shares of Trimble in the 4th quarter valued at $50,041,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Trimble by 49.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,056,558 shares of the scientific and technical instruments company's stock valued at $127,692,000 after acquiring an additional 676,954 shares during the period. Hedge funds and other institutional investors own 93.21% of the company's stock.

Trimble Trading Up 0.5 %

Shares of NASDAQ TRMB traded up $0.37 during trading hours on Monday, reaching $73.66. The stock had a trading volume of 1,154,195 shares, compared to its average volume of 1,237,265. 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 firm has a market cap of $18.10 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 3.14 and a beta of 1.53. The business's fifty day moving average price is $73.34 and its two-hundred day moving average price is $65.40. Trimble has a 52-week low of $48.65 and a 52-week high of $77.78.

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.