Trimble (NASDAQ:TRMB) Hits New 52-Week High – Here’s What Happened

Shares of Trimble Inc. (NASDAQ:TRMB) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $74.43 and last traded at $74.32, with a volume of 800648 shares traded. The stock had previously closed at $73.08.

Analysts Set New Price Targets

A number of research analysts have recently commented on TRMB shares. Oppenheimer reissued an “outperform” rating and set a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. Robert W. Baird boosted their target price on Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. boosted their price objective on Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Piper Sandler upped their price target on shares of Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $75.40.

Trimble Price Performance

The stock has a 50-day moving average of $65.35 and a two-hundred day moving average of $59.03. The firm has a market cap of $18.06 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 3.13 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.

Institutional Investors Weigh In On Trimble

A number of large investors have recently made changes to their positions in TRMB. Geode Capital Management LLC grew its holdings in shares of Trimble by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,898,092 shares of the scientific and technical instruments company’s stock valued at $364,984,000 after acquiring an additional 39,069 shares in the last quarter. Victory Capital Management Inc. grew its stake in Trimble by 41.4% in the third 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 purchasing an additional 1,594,732 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Trimble by 7.0% in the 2nd 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 lifted its holdings in shares of Trimble by 18.7% during the 3rd 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 buying an additional 434,065 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake 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 buying an additional 676,954 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

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.