Piper Sandler Reiterates Overweight Rating for Trimble (NASDAQ:TRMB)

Trimble (NASDAQ:TRMB)‘s stock had its “overweight” rating reaffirmed by equities researchers at Piper Sandler in a research note 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 28.07% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Trimble from $57.00 to $67.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. StockNews.com downgraded Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Oppenheimer restated an “outperform” rating and issued a $72.00 price target on shares of Trimble in a research report on Monday. Finally, Robert W. Baird raised 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. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.67.

Trimble Stock Performance

Shares of TRMB opened at $57.00 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. Trimble has a 12 month low of $39.57 and a 12 month high of $65.55. The company’s fifty day moving average is $61.34 and its 200-day moving average is $53.92. The firm has a market cap of $13.92 billion, a price-to-earnings ratio of 59.38, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51.

Trimble (NASDAQ:TRMB) last announced its 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 during the quarter, compared to analysts’ expectations of $908.43 million. Trimble had a return on equity of 12.04% and a net margin of 6.25%. The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.52 earnings per share. Equities analysts expect that Trimble will post 2.23 EPS for the current fiscal year.

Insider Activity

In other news, VP Jennifer Allison sold 5,000 shares of the company’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 completion of the transaction, the vice president now owns 2,315 shares in the company, valued at $137,927.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Jennifer Allison sold 5,000 shares of the company’s stock in a transaction dated 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 transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Peter Large sold 1,447 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $59.10, for a total value of $85,517.70. Following the transaction, the senior vice president now owns 8,220 shares of the company’s stock, valued at $485,802. The disclosure for this sale can be found here. Insiders have sold 16,828 shares of company stock worth $1,013,519 in the last 90 days. Corporate insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TRMB. Frazier Financial Advisors LLC acquired a new position in shares of Trimble during the 4th quarter worth about $26,000. Tobam bought a new stake in Trimble during the first quarter worth about $35,000. Operose Advisors LLC acquired a new position in Trimble during the third quarter valued at approximately $43,000. Principal Securities Inc. bought a new position in Trimble in the fourth quarter valued at approximately $52,000. Finally, Sound Income Strategies LLC increased its position in shares of Trimble by 171.9% during the 1st quarter. Sound Income Strategies LLC now owns 998 shares of the scientific and technical instruments company’s stock worth $64,000 after purchasing an additional 631 shares during the last quarter. 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.