Sanford C. Bernstein Increases Trimble (NASDAQ:TRMB) Price Target to $85.00

Trimble (NASDAQ:TRMB) had its price objective lifted by research analysts at Sanford C. Bernstein from $82.00 to $85.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the scientific and technical instruments company’s stock. Sanford C. Bernstein’s target price suggests a potential upside of 14.86% from the stock’s current price.

A number of other research firms have also issued reports on TRMB. StockNews.com lowered shares of Trimble from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. raised shares of Trimble from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $74.00 to $92.00 in a research report on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and issued a $84.00 price target on shares of Trimble in a report on Wednesday. Oppenheimer increased their price target on shares of Trimble from $77.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Robert W. Baird increased their price objective on shares of Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.00.

Trimble Trading Down 0.2 %

Shares of TRMB traded down $0.12 during mid-day trading on Wednesday, reaching $74.00. The company had a trading volume of 568,065 shares, compared to its average volume of 1,339,745. The stock has a market cap 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. The firm has a fifty day simple moving average of $67.06 and a 200-day simple moving average of $59.77. Trimble has a fifty-two week low of $47.20 and a fifty-two week 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.

Institutional Trading of Trimble

A number of large investors have recently modified their holdings of TRMB. Victory Capital Management Inc. boosted its stake in shares of Trimble by 1,387.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock worth $215,176,000 after acquiring an additional 3,589,249 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Trimble by 2,035.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,146,995 shares of the scientific and technical instruments company’s stock worth $63,635,000 after acquiring an additional 1,093,275 shares during the period. Charles Schwab Investment Management Inc. raised its position in Trimble by 49.1% during the third 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 acquiring an additional 676,954 shares during the last quarter. Impax Asset Management Group plc increased its position in 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 purchasing an additional 434,065 shares during the last quarter. Finally, Sora Investors LLC purchased a new position in shares of Trimble in the third quarter valued at $22,663,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

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.