Trimble (NASDAQ:TRMB) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

Trimble (NASDAQ:TRMB) had its price objective increased by equities researchers at Sanford C. Bernstein from $82.00 to $85.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the scientific and technical instruments company’s stock. Sanford C. Bernstein’s price target points to a potential upside of 14.86% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Oppenheimer lifted their price target on Trimble from $77.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday. Piper Sandler reiterated an “overweight” rating and issued a $84.00 target price on shares of Trimble in a report on Wednesday. Robert W. Baird lifted their target price on Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. upgraded 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 note on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $84.00.

Trimble Price Performance

Shares of NASDAQ:TRMB traded down $0.12 on Wednesday, hitting $74.00. The stock had a trading volume of 568,065 shares, compared to its average volume of 1,339,745. The company has a market capitalization of $18.07 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 3.20 and a beta of 1.53. Trimble has a twelve month low of $47.20 and a twelve month 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. The firm’s 50 day moving average price is $67.06 and its 200-day moving average price is $59.77.

Institutional Trading of Trimble

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Farrow Financial Inc. boosted its holdings in shares of Trimble by 0.5% in the third quarter. Farrow Financial Inc. now owns 39,062 shares of the scientific and technical instruments company’s stock valued at $2,425,000 after acquiring an additional 192 shares during the period. Empowered Funds LLC increased its position in shares of Trimble by 3.4% in the third quarter. Empowered Funds LLC now owns 5,802 shares of the scientific and technical instruments company’s stock valued at $360,000 after buying an additional 193 shares in the last quarter. Profund Advisors LLC increased its position in shares of Trimble by 4.6% in the second quarter. Profund Advisors LLC now owns 4,937 shares of the scientific and technical instruments company’s stock valued at $276,000 after buying an additional 219 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Trimble by 5.8% in the third quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock valued at $247,000 after buying an additional 219 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in Trimble by 4.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,666 shares of the scientific and technical instruments company’s stock worth $352,000 after purchasing an additional 237 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

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.