Trimble Inc. (NASDAQ:TRMB) Short Interest Down 33.8% in November

Trimble Inc. (NASDAQ:TRMB) was the recipient of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 2,060,000 shares, a decrease of 33.8% from the November 15th total of 3,110,000 shares. Based on an average daily volume of 1,290,000 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.9% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TRMB shares. Oppenheimer boosted their target price on Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and issued a $84.00 price objective on shares of Trimble in a research note on Wednesday. Robert W. Baird lifted their target price on shares of Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday. Sanford C. Bernstein raised their price objective on Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $74.00 to $92.00 in a research note on Wednesday, December 4th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $84.00.

Institutional Trading of Trimble

Large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its holdings in Trimble by 1,387.6% in 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 purchasing an additional 3,589,249 shares in the last quarter. AQR Capital Management LLC raised its stake in Trimble by 2,035.1% in the second 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 buying an additional 1,093,275 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Trimble by 49.1% in 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 buying an additional 676,954 shares during the period. Impax Asset Management Group plc lifted its holdings in Trimble by 18.7% in 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 during the period. Finally, Sora Investors LLC bought a new stake in Trimble during the 3rd quarter valued at approximately $22,663,000. Institutional investors own 93.21% of the company’s stock.

Trimble Trading Down 1.7 %

NASDAQ TRMB traded down $1.28 on Friday, hitting $73.59. The company’s stock had a trading volume of 1,086,890 shares, compared to its average volume of 1,344,573. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. Trimble has a 52-week low of $48.60 and a 52-week high of $76.97. The firm has a market cap of $17.97 billion, a P/E ratio of 12.31, a PEG ratio of 3.16 and a beta of 1.53. The company’s 50-day simple moving average is $67.78 and its 200 day simple moving average is $60.09.

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.