Trimble (NASDAQ:TRMB) Stock Rating Reaffirmed by Piper Sandler

Trimble (NASDAQ:TRMB)‘s stock had its “overweight” rating restated by equities researchers at Piper Sandler in a research report issued on Monday, Benzinga reports. They currently have a $73.00 price objective on the scientific and technical instruments company’s stock. Piper Sandler’s price objective would suggest a potential upside of 20.58% from the company’s current price.

Several other brokerages also recently weighed in on TRMB. Robert W. Baird lifted their target price on Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, February 13th. StockNews.com downgraded Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. JPMorgan Chase & Co. lifted their price objective on Trimble from $48.00 to $56.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, Oppenheimer lifted their price objective on Trimble from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $64.83.

Trimble Trading Down 2.4 %

NASDAQ:TRMB opened at $60.54 on Monday. The stock’s 50 day moving average price is $60.90 and its 200 day moving average price is $53.04. The company has a market capitalization of $14.87 billion, a PE ratio of 48.43, a P/E/G ratio of 2.71 and a beta of 1.50. The company has a quick ratio of 0.87, a current ratio of 1.00 and a debt-to-equity ratio of 0.56. Trimble has a 52-week low of $39.57 and a 52-week high of $65.55.

Trimble (NASDAQ:TRMB) last released its quarterly earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $932.40 million for the quarter, compared to the consensus estimate of $908.43 million. Trimble had a return on equity of 12.59% and a net margin of 8.19%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS. On average, research analysts anticipate that Trimble will post 2.23 EPS for the current year.

Insider Activity

In other news, CEO Robert G. Painter sold 2,500 shares of Trimble stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total value of $136,875.00. Following the completion of the sale, the chief executive officer now owns 239,901 shares of the company’s stock, valued at $13,134,579.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Trimble news, CEO Robert G. Painter sold 3,500 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $62.50, for a total transaction of $218,750.00. Following the completion of the sale, the chief executive officer now owns 183,555 shares of the company’s stock, valued at $11,472,187.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert G. Painter sold 2,500 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total value of $136,875.00. Following the sale, the chief executive officer now directly owns 239,901 shares of the company’s stock, valued at approximately $13,134,579.75. The disclosure for this sale can be found here. Insiders sold a total of 15,146 shares of company stock valued at $913,634 over the last quarter. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Trimble

A number of institutional investors have recently added to or reduced their stakes in the company. Folger Nolan Fleming Douglas Capital Management Inc. purchased a new stake in shares of Trimble in the first quarter worth about $219,000. Opal Wealth Advisors LLC acquired a new stake in shares of Trimble during the 1st quarter worth approximately $107,000. Liberty Capital Management Inc. raised its position in shares of Trimble by 6.8% during the 1st quarter. Liberty Capital Management Inc. now owns 18,804 shares of the scientific and technical instruments company’s stock worth $1,210,000 after purchasing an additional 1,194 shares during the period. Czech National Bank raised its position in shares of Trimble by 0.5% during the 1st quarter. Czech National Bank now owns 43,771 shares of the scientific and technical instruments company’s stock worth $2,817,000 after purchasing an additional 201 shares during the period. Finally, Fulton Bank N.A. grew its holdings in Trimble by 2.6% in the 1st quarter. Fulton Bank N.A. now owns 7,725 shares of the scientific and technical instruments company’s stock worth $497,000 after buying an additional 199 shares in the last quarter. Hedge funds and other 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.