Trimble (NASDAQ:TRMB) PT Raised to $67.00 at JPMorgan Chase & Co.

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

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

Trimble Price Performance

NASDAQ:TRMB opened at $58.59 on Wednesday. The business’s 50-day simple moving average is $61.72 and its two-hundred day simple moving average is $53.66. Trimble has a 52 week low of $39.57 and a 52 week high of $65.55. The stock has a market cap of $14.31 billion, a PE ratio of 46.87, a P/E/G ratio of 2.69 and a beta of 1.51. The company has a quick ratio of 0.87, a current ratio of 1.00 and a debt-to-equity ratio of 0.56.

Trimble (NASDAQ:TRMB) last issued its earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share (EPS) 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 company 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 company earned $0.52 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, analysts forecast that Trimble will post 2.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Robert G. Painter sold 2,500 shares of the company’s stock in a transaction dated 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 directly owns 239,901 shares in the company, valued at approximately $13,134,579.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Trimble news, SVP Peter Large sold 1,447 shares of Trimble stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total transaction of $85,517.70. Following the completion of the transaction, the senior vice president now directly owns 8,220 shares of the company’s stock, valued at $485,802. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert G. Painter sold 2,500 shares of the 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 sale, the chief executive officer now directly owns 239,901 shares in the company, valued at approximately $13,134,579.75. The disclosure for this sale can be found here. Insiders sold 16,828 shares of company stock valued at $1,013,519 in the last three months. Corporate insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Trimble

A number of large investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its position in shares of Trimble by 30.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 63,814 shares of the scientific and technical instruments company’s stock valued at $3,437,000 after buying an additional 14,729 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Trimble by 37.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 40,782 shares of the scientific and technical instruments company’s stock worth $2,197,000 after acquiring an additional 11,112 shares during the last quarter. Xponance Inc. boosted its holdings in Trimble by 3.9% during the 3rd quarter. Xponance Inc. now owns 35,844 shares of the scientific and technical instruments company’s stock valued at $1,931,000 after acquiring an additional 1,348 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Trimble by 3.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 16,463 shares of the scientific and technical instruments company’s stock valued at $887,000 after acquiring an additional 550 shares during the last quarter. Finally, Forsta AP Fonden purchased a new stake in Trimble in the third quarter worth $2,795,000. 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.