Trimble (NASDAQ:TRMB) Given Overweight Rating at Piper Sandler

Trimble (NASDAQ:TRMB)‘s stock had its “overweight” rating reissued by stock analysts at Piper Sandler in a report issued on Thursday,Benzinga reports. They presently have a $84.00 price objective on the scientific and technical instruments company’s stock. Piper Sandler’s target price would indicate a potential upside of 23.31% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Cfra raised Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a report on Thursday, February 20th. StockNews.com cut shares of Trimble from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 3rd. Finally, Oppenheimer boosted their target price on shares of Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $86.00.

Trimble Stock Performance

TRMB opened at $68.12 on Thursday. The firm’s 50-day moving average price is $63.87 and its 200-day moving average price is $68.98. The company has a market cap of $16.25 billion, a P/E ratio of 11.19, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. Trimble has a 52-week low of $48.65 and a 52-week high of $77.78.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The business had revenue of $840.60 million during the quarter, compared to analysts’ expectations of $810.45 million. During the same quarter last year, the company posted $0.64 earnings per share. The business’s quarterly revenue was down 11.8% on a year-over-year basis. As a group, equities analysts anticipate that Trimble will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling at Trimble

In related news, VP Christopher F. Keating sold 5,709 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total transaction of $411,048.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James Calvin Dalton sold 2,141 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the transaction, the director now directly owns 10,162 shares in the company, valued at $729,529.98. This trade represents a 17.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Trimble

A number of institutional investors have recently added to or reduced their stakes in TRMB. Norges Bank acquired a new stake in shares of Trimble in the 4th quarter worth $190,391,000. Boston Partners increased its position in Trimble by 217.3% during the fourth quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company’s stock worth $239,802,000 after purchasing an additional 2,312,937 shares during the last quarter. Select Equity Group L.P. raised its stake in Trimble by 22.4% during the fourth quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company’s stock worth $717,506,000 after purchasing an additional 1,857,517 shares during the period. TimesSquare Capital Management LLC acquired a new position in Trimble in the 4th quarter valued at about $50,041,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Trimble by 338.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 815,909 shares of the scientific and technical instruments company’s stock valued at $53,564,000 after buying an additional 629,960 shares during the period. 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.