Trimble (NASDAQ:TRMB) Rating Reiterated by Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Trimble (NASDAQ:TRMB) in a research report report published on Monday morning, Benzinga reports. They currently have a $73.00 price objective on the scientific and technical instruments company’s stock.

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

Trimble Trading Down 1.1 %

Shares of Trimble stock opened at $57.86 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.87 and a debt-to-equity ratio of 0.56. Trimble has a twelve month low of $39.57 and a twelve month high of $65.55. The firm has a market capitalization of $14.22 billion, a PE ratio of 46.29, a P/E/G ratio of 2.64 and a beta of 1.50. The firm’s 50-day moving average price is $61.44 and its 200 day moving average price is $53.19.

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

Insider Activity at Trimble

In other Trimble news, VP Jennifer Allison sold 5,000 shares of Trimble stock in a transaction 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 sale, the vice president now owns 2,315 shares in the company, valued at $137,927.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Jennifer Allison sold 5,000 shares of the firm’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 sale, the vice president now directly owns 2,315 shares of the company’s stock, valued at approximately $137,927.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert G. Painter sold 3,500 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $62.93, for a total transaction of $220,255.00. Following the transaction, the chief executive officer now directly owns 187,055 shares of the company’s stock, valued at approximately $11,771,371.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,828 shares of company stock worth $1,013,519. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Clear Street Markets LLC raised its holdings in shares of Trimble by 93.2% in the 1st quarter. Clear Street Markets LLC now owns 485 shares of the scientific and technical instruments company’s stock valued at $25,000 after buying an additional 234 shares during the period. IFP Advisors Inc boosted its holdings in Trimble by 798.1% during the 2nd quarter. IFP Advisors Inc now owns 467 shares of the scientific and technical instruments company’s stock valued at $25,000 after acquiring an additional 415 shares during the period. Frazier Financial Advisors LLC acquired a new position in Trimble in the 4th quarter valued at about $26,000. Itau Unibanco Holding S.A. purchased a new stake in Trimble during the second quarter worth about $42,000. Finally, Operose Advisors LLC acquired a new stake in shares of Trimble during the third quarter worth about $43,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

About Trimble

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.