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

Shares of Trimble Inc. (NASDAQ:TRMB) have received an average rating of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $64.83.

Several equities research analysts have issued reports on the stock. StockNews.com downgraded shares of Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. JPMorgan Chase & Co. raised their price objective on shares of Trimble from $48.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Robert W. Baird raised their price objective on shares of Trimble from $59.00 to $65.00 and gave the stock an “outperform” rating in a research 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 report on Thursday, March 14th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $73.00 price target on shares of Trimble in a research report on Monday, April 15th.

Trimble Trading Up 1.7 %

Trimble stock opened at $58.94 on Tuesday. Trimble has a 52 week low of $39.57 and a 52 week high of $65.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.87 and a current ratio of 1.00. The stock has a market capitalization of $14.39 billion, a P/E ratio of 47.15, a PEG ratio of 2.60 and a beta of 1.50. The stock has a 50-day simple moving average of $61.64 and a 200 day simple moving average of $53.30.

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

Insider Activity

In related 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 transaction, the chief executive officer now directly owns 239,901 shares of the company’s stock, valued at $13,134,579.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Trimble news, 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 sale, the chief executive officer now owns 239,901 shares of the company’s stock, valued at $13,134,579.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jennifer Allison sold 5,000 shares of the business’s 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 sale, the vice president now directly owns 2,315 shares in the company, valued at approximately $137,927.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,828 shares of company stock worth $1,013,519. Corporate insiders own 0.47% of the company’s stock.

Institutional Trading of Trimble

Institutional investors and hedge funds have recently bought and sold shares of the stock. Frazier Financial Advisors LLC acquired a new stake in Trimble in the fourth quarter valued at $26,000. Operose Advisors LLC acquired a new stake in Trimble in the third quarter valued at $43,000. Principal Securities Inc. bought a new stake in Trimble during the fourth quarter valued at $52,000. Sound Income Strategies LLC boosted its position in Trimble by 171.9% during the first quarter. Sound Income Strategies LLC now owns 998 shares of the scientific and technical instruments company’s stock valued at $64,000 after acquiring an additional 631 shares during the last quarter. Finally, Criterion Capital Advisors LLC bought a new stake in Trimble during the fourth quarter valued at $67,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

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.