Trimble (NASDAQ:TRMB) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Trimble (NASDAQ:TRMB) from a buy rating to a hold rating in a report published on Tuesday morning.

Several other brokerages have also commented on TRMB. Piper Sandler boosted their price target on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Oppenheimer reiterated an “outperform” rating and set a $72.00 target price on shares of Trimble in a research report on Wednesday, August 7th. Robert W. Baird raised their price target on Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.00.

Trimble Stock Up 0.2 %

TRMB stock opened at $75.40 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average price is $65.98 and its 200 day moving average price is $59.26. Trimble has a 52 week low of $46.06 and a 52 week high of $76.97. The company has a market cap of $18.41 billion, a P/E ratio of 12.59, a P/E/G ratio of 3.16 and a beta of 1.53.

Hedge Funds Weigh In On Trimble

Several institutional investors and hedge funds have recently modified their holdings of the company. GPS Wealth Strategies Group LLC lifted its stake in shares of Trimble by 303.2% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock worth $36,000 after purchasing an additional 479 shares during the period. Blue Trust Inc. increased its stake in Trimble by 96.0% in the second 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. TD Private Client Wealth LLC lifted its position in Trimble by 722.2% during the third quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock worth $37,000 after buying an additional 520 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Trimble during the second quarter worth about $48,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Trimble in the 3rd quarter valued at about $49,000. Hedge funds and other institutional investors 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.