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

StockNews.com downgraded shares of Trimble (NASDAQ:TRMB) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

TRMB has been the subject of a number of other research reports. Piper Sandler raised their price objective on Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Oppenheimer reiterated an “outperform” rating and set a $72.00 price target on shares of Trimble in a research note on Wednesday, August 7th. Robert W. Baird raised their price target on shares of Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their price objective on Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.40.

Trimble Price Performance

Shares of Trimble stock opened at $72.81 on Friday. The firm has a fifty day moving average price of $61.15 and a two-hundred day moving average price of $57.65. Trimble has a fifty-two week low of $40.79 and a fifty-two week high of $74.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 0.88. The company has a market cap of $17.78 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 3.23 and a beta of 1.49.

Hedge Funds Weigh In On Trimble

Institutional investors have recently modified their holdings of the stock. Penserra Capital Management LLC lifted its holdings in Trimble by 5.9% during the third quarter. Penserra Capital Management LLC now owns 29,267 shares of the scientific and technical instruments company’s stock worth $1,816,000 after acquiring an additional 1,623 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Trimble by 79.0% during the 3rd quarter. Cerity Partners LLC now owns 70,429 shares of the scientific and technical instruments company’s stock valued at $4,373,000 after purchasing an additional 31,094 shares in the last quarter. Raymond James Trust N.A. grew its position in shares of Trimble by 16.0% in the 3rd quarter. Raymond James Trust N.A. now owns 4,991 shares of the scientific and technical instruments company’s stock valued at $310,000 after purchasing an additional 690 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Trimble by 49.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,056,558 shares of the scientific and technical instruments company’s stock worth $127,692,000 after purchasing an additional 676,954 shares in the last quarter. Finally, Intech Investment Management LLC raised its holdings in Trimble by 10.2% during the 3rd quarter. Intech Investment Management LLC now owns 5,298 shares of the scientific and technical instruments company’s stock worth $329,000 after buying an additional 489 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

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.