Trimble Inc. (NASDAQ:TRMB) Receives $84.86 Consensus Target Price from Analysts

Trimble Inc. (NASDAQ:TRMB) has received a consensus recommendation of “Buy” from the seven research firms that are currently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $84.86.

A number of equities research analysts have recently issued reports on the company. Oppenheimer upped their price target on Trimble from $77.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Piper Sandler reiterated an “overweight” rating and issued a $84.00 price objective on shares of Trimble in a research report on Wednesday, December 11th. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. Robert W. Baird increased their price target on Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Sanford C. Bernstein upped their target price on shares of Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th.

Trimble Stock Down 1.5 %

Shares of NASDAQ TRMB opened at $71.20 on Friday. The stock has a market cap of $17.39 billion, a PE ratio of 11.91, a P/E/G ratio of 3.15 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. Trimble has a 12-month low of $48.60 and a 12-month high of $76.97. The company has a 50-day moving average of $69.77 and a 200 day moving average of $61.25.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TRMB. Geode Capital Management LLC grew its stake in shares of Trimble by 0.7% in 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 in the last quarter. Victory Capital Management Inc. raised its position in 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 purchasing an additional 1,594,732 shares in the last quarter. Thrivent Financial for Lutherans raised 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 valued at $203,976,000 after purchasing an additional 239,673 shares in the last quarter. Impax Asset Management Group plc grew its position in shares of Trimble by 18.7% during the third quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company’s stock worth $169,978,000 after buying an additional 434,065 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Trimble by 49.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,056,558 shares of the scientific and technical instruments company’s stock worth $127,692,000 after buying an additional 676,954 shares during the period. Institutional investors and hedge funds own 93.21% of the company’s stock.

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.