Trimble’s (TRMB) Outperform Rating Reiterated at Oppenheimer

Oppenheimer reiterated their outperform rating on shares of Trimble (NASDAQ:TRMB) in a research report sent to investors on Monday morning, Benzinga reports. Oppenheimer currently has a $72.00 price objective on the scientific and technical instruments company’s stock.

A number of other equities analysts have also weighed in on TRMB. 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. JPMorgan Chase & Co. boosted their price target on shares of Trimble from $57.00 to $67.00 and gave the company a neutral rating in a report on Wednesday, May 1st. Robert W. Baird increased their price objective on Trimble from $59.00 to $65.00 and gave the stock an outperform rating in a report on Tuesday, February 13th. Finally, StockNews.com downgraded 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 given a buy rating to the company. Based on data from MarketBeat, Trimble currently has an average rating of Moderate Buy and an average price target of $66.67.

Trimble Stock Performance

NASDAQ:TRMB opened at $56.54 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average of $61.26 and a 200-day moving average of $53.94. Trimble has a twelve month low of $39.57 and a twelve month high of $65.55. The firm has a market cap of $13.81 billion, a price-to-earnings ratio of 58.90, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51.

Trimble (NASDAQ:TRMB) last posted its quarterly 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. The company had revenue of $932.40 million for 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 firm’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 earnings per share. Analysts forecast that Trimble will post 2.23 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Trimble

Several hedge funds have recently modified their holdings of TRMB. Schonfeld Strategic Advisors LLC raised its stake in Trimble by 383.0% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 220,587 shares of the scientific and technical instruments company’s stock valued at $11,881,000 after purchasing an additional 174,917 shares during the last quarter. Barclays PLC raised its position in shares of Trimble by 43.6% during the third quarter. Barclays PLC now owns 580,280 shares of the scientific and technical instruments company’s stock valued at $31,254,000 after buying an additional 176,139 shares during the last quarter. Hunter Associates Investment Management LLC lifted its stake in shares of Trimble by 51.3% in the fourth quarter. Hunter Associates Investment Management LLC now owns 40,988 shares of the scientific and technical instruments company’s stock valued at $2,185,000 after buying an additional 13,899 shares during the period. Mission Wealth Management LP grew its position in Trimble by 6.0% during the fourth quarter. Mission Wealth Management LP now owns 20,277 shares of the scientific and technical instruments company’s stock worth $1,079,000 after buying an additional 1,145 shares in the last quarter. Finally, Raymond James & Associates increased its stake in Trimble by 126.1% during the fourth quarter. Raymond James & Associates now owns 133,858 shares of the scientific and technical instruments company’s stock valued at $7,121,000 after acquiring an additional 74,667 shares during the period. 93.21% of the stock is owned by 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.