Trimble (NASDAQ:TRMB) Price Target Raised to $85.00

Trimble (NASDAQ:TRMB) had its price target upped by Sanford C. Bernstein from $82.00 to $85.00 in a report published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the scientific and technical instruments company’s stock.

Several other research firms have also recently weighed in on TRMB. Oppenheimer boosted their price objective on Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $74.00 to $92.00 in a research report on Wednesday, December 4th. StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Robert W. Baird boosted their price objective on Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and set a $84.00 price objective on shares of Trimble in a research report on Wednesday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Trimble has an average rating of “Buy” and an average target price of $84.00.

Trimble Stock Performance

TRMB opened at $73.59 on Wednesday. The company has a market cap of $17.97 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 3.16 and a beta of 1.53. The stock has a 50-day moving average of $67.78 and a 200-day moving average of $60.09. Trimble has a 52-week low of $48.60 and a 52-week high of $76.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16.

Hedge Funds Weigh In On Trimble

Large investors have recently added to or reduced their stakes in the company. TD Private Client Wealth LLC raised its holdings in Trimble by 722.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock valued at $37,000 after acquiring an additional 520 shares in the last quarter. GPS Wealth Strategies Group LLC raised its holdings in 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 in the last quarter. Blue Trust Inc. raised its holdings 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 valued at $36,000 after acquiring an additional 313 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in Trimble in the 3rd quarter valued at approximately $49,000. Finally, Cromwell Holdings LLC raised its holdings in Trimble by 86.6% in the 3rd 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 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.