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

Trimble Inc. (NASDAQ:TRMB)’s share price 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 analysts have weighed in on the company. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. Sanford C. Bernstein boosted their price objective on Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Wolfe Research raised Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research note on Monday, December 16th. Oppenheimer boosted their price objective on Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and boosted their target price for the stock 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.com, Trimble currently has an average rating of “Buy” and a consensus price target of $84.86.

Trimble Stock Performance

The stock has a 50 day moving average price of $72.37 and a two-hundred day moving average price of $63.30. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The company has a market cap of $19.06 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 3.11 and a beta of 1.52.

Institutional Trading of Trimble

Hedge funds have recently added to or reduced their stakes in the business. TD Private Client Wealth LLC raised its stake in Trimble by 722.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock worth $37,000 after buying an additional 520 shares during the period. Friedenthal Financial acquired a new stake in shares of Trimble in the 4th quarter valued at about $49,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Trimble in the 3rd quarter valued at about $49,000. Cromwell Holdings LLC raised its stake in shares of Trimble by 86.6% in the 3rd quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock valued at $50,000 after purchasing an additional 375 shares during the period. Finally, Sentry Investment Management LLC acquired a new stake in shares of Trimble in the 3rd quarter valued at about $76,000. Institutional investors and hedge funds 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.