Trimble (NASDAQ:TRMB) Sets New 12-Month High – Still a Buy?

Trimble Inc. (NASDAQ:TRMB) hit a new 52-week high on Wednesday . The stock traded as high as $77.42 and last traded at $77.37, with a volume of 109343 shares changing hands. The stock had previously closed at $76.43.

Analyst Ratings Changes

Several brokerages have recently weighed in on TRMB. Sanford C. Bernstein raised their price objective on Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Wolfe Research upgraded Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price target for the company in a report on Monday, December 16th. Oppenheimer lifted their price target on Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. upgraded shares of Trimble from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $74.00 to $92.00 in a research report on Wednesday, December 4th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $84.86.

Trimble Trading Up 1.5 %

The business’s 50 day simple moving average is $72.37 and its two-hundred day simple moving average is $63.30. The stock has a market cap of $19.06 billion, a P/E ratio of 12.98, a PEG ratio of 3.11 and a beta of 1.52. 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 Trading of Trimble

Several institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. boosted its position in 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 valued at $337,934,000 after acquiring an additional 1,594,732 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Trimble by 2,035.1% during the second quarter. AQR Capital Management LLC now owns 1,146,995 shares of the scientific and technical instruments company’s stock valued at $63,635,000 after purchasing an additional 1,093,275 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 valued at $127,692,000 after purchasing an additional 676,954 shares during the period. Impax Asset Management Group plc raised 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 valued at $169,978,000 after purchasing an additional 434,065 shares during the period. Finally, Sora Investors LLC acquired a new position in shares of Trimble during the third quarter valued at about $22,663,000. Institutional investors own 93.21% of the company’s stock.

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.