Trimble (NASDAQ:TRMB) Lowered to "Hold" Rating by StockNews.com

Trimble (NASDAQ:TRMB - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Tuesday.

Several other research analysts have also recently weighed in on TRMB. JPMorgan Chase & Co. upped their price target on shares of Trimble from $66.00 to $74.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Piper Sandler raised their price target on Trimble from $73.00 to $84.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Robert W. Baird boosted their price objective on Trimble from $66.00 to $82.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $72.00 target price on shares of Trimble in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Trimble currently has an average rating of "Moderate Buy" and an average price target of $75.40.

Trimble Stock Performance

Shares of NASDAQ:TRMB traded up $0.53 during midday trading on Tuesday, reaching $73.61. 374,507 shares of the company traded hands, compared to its average volume of 1,334,830. Trimble has a 12 month low of $45.61 and a 12 month high of $74.22. The firm's fifty day moving average price is $65.35 and its two-hundred day moving average price is $59.03. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $17.98 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 3.12 and a beta of 1.53.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GPS Wealth Strategies Group LLC lifted its stake in shares of Trimble by 303.2% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company's stock valued at $36,000 after acquiring an additional 479 shares during the last quarter. Blue Trust Inc. increased its stake in Trimble by 96.0% in the 2nd quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company's stock worth $36,000 after purchasing an additional 313 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of Trimble by 722.2% during the third quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company's stock valued at $37,000 after purchasing an additional 520 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Trimble in the second quarter worth approximately $48,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Trimble in the third quarter worth $49,000. 93.21% of the stock is currently owned by institutional investors.

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.