Trimble (NASDAQ:TRMB) Reaches New 1-Year High – Still a Buy?

Trimble Inc. (NASDAQ:TRMB)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $74.43 and last traded at $74.32, with a volume of 800648 shares. The stock had previously closed at $73.08.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TRMB shares. Robert W. Baird upped their price target on Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Piper Sandler upped their target price on Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.40.

Trimble Trading Up 1.2 %

The company has a market cap of $18.06 billion, a P/E ratio of 12.42, a P/E/G ratio of 3.13 and a beta of 1.53. The business has a fifty day simple moving average of $65.35 and a 200 day simple moving average of $59.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16.

Institutional Trading of Trimble

A number of institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. lifted its holdings in shares of Trimble by 18.4% in the 3rd quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company’s stock worth $24,296,000 after purchasing an additional 60,752 shares during the last quarter. Magnetar Financial LLC bought a new position in shares of Trimble during the second quarter worth about $1,752,000. Raymond James & Associates lifted its position in 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 last quarter. Victory Capital Management Inc. boosted its stake in Trimble by 41.4% during the 3rd 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 purchasing an additional 1,594,732 shares during the period. Finally, National Pension Service grew its position in Trimble by 13,597.7% in the 3rd quarter. National Pension Service now owns 23,971 shares of the scientific and technical instruments company’s stock worth $1,488,000 after purchasing an additional 23,796 shares during the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

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.