Trimble (NASDAQ:TRMB) Upgraded to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Trimble (NASDAQ:TRMB) from a neutral rating to an overweight rating in a research note published on Wednesday, MarketBeat Ratings reports. They currently have $92.00 price target on the scientific and technical instruments company’s stock, up from their previous price target of $74.00.

Other equities analysts have also recently issued research reports about the company. Piper Sandler boosted their price objective on Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Robert W. Baird boosted their price objective on Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, November 8th. StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $72.00 target price on shares of Trimble in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $79.00.

Trimble Price Performance

TRMB opened at $75.28 on Wednesday. The business has a fifty day moving average of $65.65 and a 200 day moving average of $59.15. Trimble has a 52-week low of $45.61 and a 52-week high of $76.97. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. The stock has a market cap of $18.38 billion, a P/E ratio of 12.51, a PEG ratio of 3.13 and a beta of 1.53.

Institutional Investors Weigh In On Trimble

A number of hedge funds have recently made changes to their positions in the stock. Farrow Financial Inc. lifted its stake in shares of Trimble by 0.5% during the 3rd quarter. Farrow Financial Inc. now owns 39,062 shares of the scientific and technical instruments company’s stock worth $2,425,000 after purchasing an additional 192 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Trimble by 3.4% in the third quarter. Empowered Funds LLC now owns 5,802 shares of the scientific and technical instruments company’s stock valued at $360,000 after purchasing an additional 193 shares during the period. Profund Advisors LLC increased its holdings in shares of Trimble by 4.6% in the second quarter. Profund Advisors LLC now owns 4,937 shares of the scientific and technical instruments company’s stock valued at $276,000 after purchasing an additional 219 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Trimble by 5.8% in the third quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock valued at $247,000 after purchasing an additional 219 shares during the period. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Trimble by 4.4% in the third quarter. Harbor Capital Advisors Inc. now owns 5,666 shares of the scientific and technical instruments company’s stock valued at $352,000 after purchasing an additional 237 shares during the period. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

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.