Brokerages Set Trimble Inc. (NASDAQ:TRMB) PT at $84.86

Trimble Inc. (NASDAQ:TRMB) has received a consensus recommendation of “Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $84.86.

TRMB has been the topic of several research analyst reports. Robert W. Baird raised their target price on Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. raised shares of Trimble from a “neutral” rating to an “overweight” rating and increased their target price for the company from $74.00 to $92.00 in a research report on Wednesday, December 4th. Sanford C. Bernstein boosted their price target 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. Finally, Oppenheimer raised their price objective on Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th.

Hedge Funds Weigh In On Trimble

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its stake in shares of 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 purchasing an additional 313 shares during the last quarter. Raymond James & Associates increased its stake in Trimble by 27.9% in the 2nd quarter. Raymond James & Associates now owns 164,488 shares of the scientific and technical instruments company’s stock valued at $9,198,000 after buying an additional 35,841 shares during the period. Raymond James Trust N.A. raised its position in Trimble by 16.4% during the 2nd quarter. Raymond James Trust N.A. now owns 4,301 shares of the scientific and technical instruments company’s stock worth $241,000 after buying an additional 606 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Trimble by 10.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 16,061 shares of the scientific and technical instruments company’s stock worth $898,000 after acquiring an additional 1,489 shares during the period. Finally, Meixler Investment Management Ltd. boosted its holdings in shares of Trimble by 23.0% in the second quarter. Meixler Investment Management Ltd. now owns 17,303 shares of the scientific and technical instruments company’s stock valued at $968,000 after acquiring an additional 3,231 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Stock Down 1.5 %

Trimble stock 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 debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07. The stock’s fifty day moving average is $69.77 and its two-hundred day moving average is $61.25. Trimble has a 1-year low of $48.60 and a 1-year high of $76.97.

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.