Trimble (NASDAQ:TRMB) Given New $90.00 Price Target at Robert W. Baird

Trimble (NASDAQ:TRMB - Get Free Report) had its price objective raised by equities researchers at Robert W. Baird from $82.00 to $90.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the scientific and technical instruments company's stock. Robert W. Baird's price target would indicate a potential upside of 21.69% from the stock's current price.

A number of other equities research analysts also recently issued reports on TRMB. StockNews.com downgraded shares of Trimble from a "buy" rating to a "hold" rating in a research report on Tuesday, December 3rd. Piper Sandler lifted their price objective on Trimble from $73.00 to $84.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised Trimble from a "neutral" rating to an "overweight" rating and upped their target price for the company from $74.00 to $92.00 in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $84.00.

Trimble Price Performance

Shares of TRMB traded down $0.16 during trading hours on Wednesday, reaching $73.96. The company had a trading volume of 1,429,246 shares, compared to its average volume of 1,343,510. The company has a market capitalization of $18.06 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 3.20 and a beta of 1.53. Trimble has a 12-month low of $47.20 and a 12-month high of $76.97. The firm has a 50 day simple moving average of $67.06 and a 200-day simple moving average of $59.77. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24.

Institutional Investors Weigh In On Trimble

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in Trimble by 0.7% during the third quarter. Geode Capital Management LLC now owns 5,898,092 shares of the scientific and technical instruments company's stock worth $364,984,000 after acquiring an additional 39,069 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Trimble by 41.4% during the third quarter. Victory Capital Management Inc. now owns 5,442,653 shares of the scientific and technical instruments company's stock worth $337,934,000 after purchasing an additional 1,594,732 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Trimble by 7.0% during the second quarter. Thrivent Financial for Lutherans now owns 3,647,641 shares of the scientific and technical instruments company's stock worth $203,976,000 after purchasing an additional 239,673 shares during the last quarter. Impax Asset Management Group plc grew its position in shares of Trimble by 18.7% in the third quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company's stock valued at $169,978,000 after purchasing an additional 434,065 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Trimble by 49.1% in the third 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 purchasing an additional 676,954 shares during the last quarter. 93.21% of the stock is currently owned by hedge funds and other 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.