Trimble Inc. (NASDAQ:TRMB) Short Interest Update

Trimble Inc. (NASDAQ:TRMB) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 2,060,000 shares, a drop of 33.8% from the November 15th total of 3,110,000 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average trading volume of 1,290,000 shares, the days-to-cover ratio is currently 1.6 days.

Analyst Ratings Changes

A number of research analysts recently commented on TRMB shares. Oppenheimer upped their target price on Trimble from $77.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Thursday. Sanford C. Bernstein lifted 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. JPMorgan Chase & Co. raised shares of Trimble from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $74.00 to $92.00 in a research report on Wednesday, December 4th. Finally, Robert W. Baird lifted their price objective on Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $84.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TRMB. Geode Capital Management LLC raised its position in Trimble by 0.7% in 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 purchasing an additional 39,069 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of 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 buying an additional 1,594,732 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Trimble by 7.0% during 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 buying an additional 239,673 shares in the last quarter. Impax Asset Management Group plc grew its holdings in 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 worth $169,978,000 after acquiring an additional 434,065 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in 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 acquiring an additional 676,954 shares in the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Price Performance

NASDAQ:TRMB traded down $1.28 on Friday, reaching $73.59. The stock had a trading volume of 1,086,875 shares, compared to its average volume of 1,344,573. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $17.97 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 3.16 and a beta of 1.53. Trimble has a 1-year low of $48.60 and a 1-year high of $76.97. The stock has a fifty day moving average price of $67.78 and a 200-day moving average price of $60.09.

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.