Trimble (NASDAQ:TRMB) Earns “Overweight” Rating from Piper Sandler

Trimble (NASDAQ:TRMB)‘s stock had its “overweight” rating restated by stock analysts at Piper Sandler in a report issued on Wednesday,Benzinga reports. They presently have a $84.00 target price on the scientific and technical instruments company’s stock. Piper Sandler’s price objective would suggest a potential upside of 12.19% from the stock’s previous close.

Several other equities analysts have also issued reports on the stock. Robert W. Baird boosted their price target on shares of Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. upgraded shares of Trimble from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $74.00 to $92.00 in a research report on Wednesday, December 4th. Finally, StockNews.com downgraded shares of Trimble from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Trimble currently has a consensus rating of “Buy” and an average price target of $84.00.

Trimble Stock Up 1.2 %

Shares of TRMB stock opened at $74.87 on Wednesday. Trimble has a 1 year low of $47.20 and a 1 year high of $76.97. The business’s fifty day moving average is $67.55 and its 200-day moving average is $59.98. 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 stock has a market cap of $18.28 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 3.20 and a beta of 1.53.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Cetera Advisors LLC boosted its stake in shares of Trimble by 27.0% during the 1st quarter. Cetera Advisors LLC now owns 4,951 shares of the scientific and technical instruments company’s stock worth $319,000 after acquiring an additional 1,052 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Trimble by 34.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 10,702 shares of the scientific and technical instruments company’s stock worth $598,000 after purchasing an additional 2,760 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its holdings in Trimble by 303.2% in the second quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 479 shares during the last quarter. SteelPeak Wealth LLC bought a new position in shares of Trimble during the second quarter worth about $486,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Trimble by 71.4% during the second quarter. Assenagon Asset Management S.A. now owns 224,881 shares of the scientific and technical instruments company’s stock worth $12,575,000 after purchasing an additional 93,651 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.