Trimble (NASDAQ:TRMB) Sets New 52-Week High – Still a Buy?

Trimble Inc. (NASDAQ:TRMB)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $74.22 and last traded at $73.95, with a volume of 51825 shares. The stock had previously closed at $73.36.

Analyst Ratings Changes

TRMB has been the topic of several research analyst reports. Robert W. Baird upped their price objective on shares of Trimble from $66.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. StockNews.com cut shares of Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Oppenheimer reissued an “outperform” rating and set a $72.00 price target on shares of Trimble in a research note on Wednesday, August 7th. Piper Sandler increased their price target on shares of Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Trimble from $66.00 to $74.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.40.

Trimble Price Performance

The company’s fifty day moving average is $61.49 and its two-hundred day moving average is $57.75. The firm has a market capitalization of $17.73 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 3.24 and a beta of 1.49. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.24.

Hedge Funds Weigh In On Trimble

Large investors have recently bought and sold shares of the business. Victory Capital Management Inc. raised its holdings in Trimble by 41.4% in the third 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 purchasing an additional 1,594,732 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Trimble by 7.0% during the second 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 in the last quarter. Impax Asset Management Group plc increased its position 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 worth $169,978,000 after acquiring an additional 434,065 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Trimble by 25.4% during the first quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock worth $164,087,000 after acquiring an additional 516,789 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position 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 worth $127,692,000 after acquiring an additional 676,954 shares in the last quarter. 93.21% of the stock is currently 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.