Short Interest in Trimble Inc. (NASDAQ:TRMB) Decreases By 33.8%

Trimble Inc. (NASDAQ:TRMB) was the target of a significant drop in short interest during 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. Currently, 0.9% of the company’s shares are sold short. Based on an average trading volume of 1,290,000 shares, the short-interest ratio is presently 1.6 days.

Trimble Stock Down 1.7 %

Shares of NASDAQ TRMB traded down $1.28 during mid-day trading on Friday, reaching $73.59. 1,086,875 shares of the company’s stock were exchanged, compared to its average volume of 1,344,573. Trimble has a twelve month low of $48.60 and a twelve month high of $76.97. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $17.97 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 3.16 and a beta of 1.53. The business has a fifty day simple moving average of $67.78 and a 200 day simple moving average of $60.09.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its position in shares of Trimble by 18.4% during the third quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company’s stock worth $24,296,000 after acquiring an additional 60,752 shares in the last quarter. Magnetar Financial LLC bought a new position in Trimble during the 2nd quarter worth about $1,752,000. Raymond James & Associates raised its stake in shares of Trimble by 27.9% in the 2nd quarter. Raymond James & Associates now owns 164,488 shares of the scientific and technical instruments company’s stock valued at $9,198,000 after purchasing an additional 35,841 shares during the period. Benjamin Edwards Inc. lifted its holdings in shares of Trimble by 76.5% in the third quarter. Benjamin Edwards Inc. now owns 40,193 shares of the scientific and technical instruments company’s stock valued at $2,496,000 after purchasing an additional 17,424 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Trimble by 41.4% during the third quarter. Victory Capital Management Inc. now owns 5,442,653 shares of the scientific and technical instruments company’s stock worth $337,934,000 after buying an additional 1,594,732 shares during the period. Institutional investors own 93.21% of the company’s stock.

Wall Street Analysts Forecast Growth

TRMB has been the subject of several analyst reports. Oppenheimer lifted their price target on shares of Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday. Sanford C. Bernstein raised their price objective on shares of Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday. Robert W. Baird upped their target price on shares of Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $74.00 to $92.00 in a research report on Wednesday, December 4th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $84.00 price objective on shares of Trimble in a report on Wednesday. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $84.00.

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.