JPMorgan Chase & Co. Boosts Trimble (NASDAQ:TRMB) Price Target to $67.00

Trimble (NASDAQ:TRMB) had its price target upped by JPMorgan Chase & Co. from $57.00 to $67.00 in a report issued on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the scientific and technical instruments company’s stock.

TRMB has been the subject of a number of other reports. StockNews.com cut shares of Trimble from a buy rating to a hold rating in a research report on Saturday, February 10th. Robert W. Baird upped their target price on Trimble from $59.00 to $65.00 and gave the company an outperform rating in a research report on Tuesday, February 13th. Piper Sandler reaffirmed an overweight rating and set a $73.00 price target on shares of Trimble in a research report on Monday, April 15th. Finally, Oppenheimer boosted their price objective on Trimble from $65.00 to $72.00 and gave the company an outperform rating in a research note on Thursday, March 14th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $66.67.

Trimble Trading Down 6.9 %

NASDAQ:TRMB opened at $55.93 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.87 and a current ratio of 1.00. Trimble has a 1 year low of $39.57 and a 1 year high of $65.55. The stock has a market cap of $13.66 billion, a P/E ratio of 44.74, a P/E/G ratio of 2.63 and a beta of 1.51. The stock has a 50-day simple moving average of $61.66 and a 200-day simple moving average of $53.74.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share (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 firm had revenue of $932.40 million during the quarter, compared to the consensus estimate of $908.43 million. During the same period in the prior year, the company posted $0.52 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, analysts anticipate that Trimble will post 2.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Trimble

In other Trimble news, VP Jennifer Allison sold 5,000 shares of Trimble stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total value of $297,900.00. Following the transaction, the vice president now directly owns 2,315 shares in the company, valued at approximately $137,927.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Jennifer Allison sold 5,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total transaction of $297,900.00. Following the completion of the sale, the vice president now directly owns 2,315 shares of the company’s stock, valued at $137,927.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert G. Painter sold 2,500 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total transaction of $136,875.00. Following the completion of the transaction, the chief executive officer now directly owns 239,901 shares in the company, valued at $13,134,579.75. The disclosure for this sale can be found here. Insiders sold a total of 16,828 shares of company stock valued at $1,013,519 in the last ninety days. Insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its stake in shares of Trimble by 18.3% during the 4th quarter. First Horizon Advisors Inc. now owns 1,269 shares of the scientific and technical instruments company’s stock worth $68,000 after buying an additional 196 shares in the last quarter. Fulton Bank N.A. grew its holdings in Trimble by 2.6% during the first quarter. Fulton Bank N.A. now owns 7,725 shares of the scientific and technical instruments company’s stock worth $497,000 after acquiring an additional 199 shares during the period. First Eagle Investment Management LLC lifted its holdings in Trimble by 6.8% in the fourth quarter. First Eagle Investment Management LLC now owns 3,145 shares of the scientific and technical instruments company’s stock valued at $167,000 after acquiring an additional 200 shares during the period. Czech National Bank lifted its holdings in Trimble by 0.5% in the first quarter. Czech National Bank now owns 43,771 shares of the scientific and technical instruments company’s stock valued at $2,817,000 after acquiring an additional 201 shares during the period. Finally, Caprock Group LLC boosted its position in shares of Trimble by 1.9% during the 1st quarter. Caprock Group LLC now owns 12,584 shares of the scientific and technical instruments company’s stock worth $810,000 after purchasing an additional 233 shares in the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

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.