Brokerages Set Trimble Inc. (NASDAQ:TRMB) Target Price at $64.83

Trimble Inc. (NASDAQ:TRMB) has received a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $64.83.

A number of brokerages have recently weighed in on TRMB. Piper Sandler restated an “overweight” rating and issued a $73.00 price target on shares of Trimble in a research report on Monday. Robert W. Baird upped their price target on shares of Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, February 13th. Oppenheimer raised their price objective on shares of Trimble from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, March 14th. StockNews.com downgraded Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Finally, JPMorgan Chase & Co. increased their target price on Trimble from $48.00 to $56.00 and gave the company a “neutral” rating in a report on Friday, February 9th.

Insider Activity at Trimble

In other Trimble news, CEO Robert G. Painter sold 2,500 shares of Trimble stock in a transaction that occurred on Tuesday, February 13th. The shares were 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 directly owns 239,901 shares of the company’s stock, valued at approximately $13,134,579.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Jennifer Allison sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total value of $297,900.00. Following the sale, the vice president now directly owns 2,315 shares of the company’s stock, valued at $137,927.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert G. Painter sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total transaction of $136,875.00. Following the transaction, 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. Over the last 90 days, insiders have sold 16,828 shares of company stock valued at $1,013,519. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Trimble

Hedge funds have recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC boosted its holdings in Trimble by 383.0% in the third quarter. Schonfeld Strategic Advisors LLC now owns 220,587 shares of the scientific and technical instruments company’s stock valued at $11,881,000 after acquiring an additional 174,917 shares during the last quarter. Barclays PLC increased its position in Trimble by 43.6% during the 3rd quarter. Barclays PLC now owns 580,280 shares of the scientific and technical instruments company’s stock worth $31,254,000 after purchasing an additional 176,139 shares in the last quarter. Raymond James & Associates raised its holdings in Trimble by 126.1% in the fourth quarter. Raymond James & Associates now owns 133,858 shares of the scientific and technical instruments company’s stock valued at $7,121,000 after buying an additional 74,667 shares during the period. Vontobel Holding Ltd. lifted its position in Trimble by 10.6% during the third quarter. Vontobel Holding Ltd. now owns 1,560,848 shares of the scientific and technical instruments company’s stock valued at $84,067,000 after buying an additional 150,125 shares in the last quarter. Finally, Comerica Bank purchased a new stake in Trimble during the second quarter worth approximately $4,647,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Stock Down 1.1 %

TRMB opened at $57.86 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.00 and a quick ratio of 0.87. Trimble has a 12 month low of $39.57 and a 12 month high of $65.55. The stock has a market capitalization of $14.22 billion, a P/E ratio of 46.29, a P/E/G ratio of 2.64 and a beta of 1.50. The business has a 50 day simple moving average of $61.44 and a 200-day simple moving average of $53.19.

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

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.