Trimble (NASDAQ:TRMB) Reaches New 12-Month High – Should You Buy?

Trimble Inc. (NASDAQ:TRMB) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $74.22 and last traded at $73.95, with a volume of 51825 shares changing hands. The stock had previously closed at $73.36.

Analyst Ratings Changes

TRMB has been the subject of a number of recent research reports. Robert W. Baird boosted their price objective on shares of Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a report on Friday. StockNews.com downgraded shares of Trimble from a “buy” rating to a “hold” rating in a report on Saturday. Piper Sandler boosted their price objective on shares of Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. boosted their price objective on shares of Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Oppenheimer reissued an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $75.40.

Trimble Stock Performance

The stock’s fifty day moving average price is $60.79 and its two-hundred day moving average price is $57.56. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 1.16. The company has a market cap of $17.93 billion, a P/E ratio of 12.27, a P/E/G ratio of 3.23 and a beta of 1.49.

Institutional Trading of Trimble

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in shares of 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 worth $337,934,000 after acquiring an additional 1,594,732 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Trimble by 7.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 3,647,641 shares of the scientific and technical instruments company’s stock worth $203,976,000 after acquiring an additional 239,673 shares during the period. Impax Asset Management Group plc lifted its stake in Trimble by 18.7% in the 3rd 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 last quarter. Lazard Asset Management LLC lifted its stake in Trimble by 25.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock valued at $164,087,000 after purchasing an additional 516,789 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Trimble by 49.1% in the 3rd 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 last quarter. 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.