Trimble Inc. (NASDAQ:TRMB) Short Interest Update

Trimble Inc. (NASDAQ:TRMB) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 3,050,000 shares, a drop of 19.5% from the October 15th total of 3,790,000 shares. Based on an average daily volume of 1,250,000 shares, the days-to-cover ratio is presently 2.4 days. Currently, 1.3% of the company’s stock are short sold.

Trimble Stock Performance

TRMB opened at $70.62 on Friday. The firm’s fifty day simple moving average is $62.12 and its two-hundred day simple moving average is $57.91. Trimble has a 52-week low of $42.56 and a 52-week high of $74.22. The company has a market cap of $17.25 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 3.11 and a beta of 1.49. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.24.

Institutional Investors Weigh In On Trimble

Several institutional investors have recently bought and sold shares of TRMB. Geode Capital Management LLC lifted its position in shares of Trimble by 0.7% in the third 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 acquiring an additional 39,069 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Trimble by 41.4% in the 3rd 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 purchasing an additional 1,594,732 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake 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 purchasing an additional 239,673 shares during the last quarter. Impax Asset Management Group plc grew its holdings in shares of Trimble by 18.7% during the third 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 buying an additional 434,065 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of Trimble by 25.4% in the first quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock valued at $164,087,000 after buying an additional 516,789 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Robert W. Baird raised their price objective on shares of Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. 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 report on Thursday, November 7th. Oppenheimer reissued an “outperform” rating and set a $72.00 price target on shares of Trimble in a research report on Wednesday, August 7th. Finally, Piper Sandler lifted their price objective on shares of Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Trimble presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.40.

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.