Trimble (NASDAQ:TRMB) Rating Reiterated by Piper Sandler

Piper Sandler reissued their overweight rating on shares of Trimble (NASDAQ:TRMB) in a research report released on Monday, Benzinga reports. The brokerage currently has a $73.00 price target on the scientific and technical instruments company’s stock.

Several other research analysts have also recently issued reports on the company. Oppenheimer reissued an outperform rating and issued a $72.00 price objective on shares of Trimble in a research note on Monday. JPMorgan Chase & Co. lifted their price objective on 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 target price on shares of Trimble from $59.00 to $65.00 and gave the stock an outperform rating in a report on Tuesday, February 13th. Finally, StockNews.com lowered shares of Trimble from a buy rating to a hold rating in a report on Saturday, February 10th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $66.67.

Trimble Stock Up 0.4 %

NASDAQ:TRMB opened at $56.78 on Monday. The stock has a fifty day simple moving average of $61.17 and a 200-day simple moving average of $53.96. 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 market cap of $13.87 billion, a price-to-earnings ratio of 59.15, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. Trimble has a twelve month low of $39.57 and a twelve month high of $65.55.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $932.40 million during the quarter, compared to analyst estimates of $908.43 million. Trimble had a net margin of 6.25% and a return on equity of 12.04%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. Analysts anticipate that Trimble will post 2.23 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Robert G. Painter sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Robert G. Painter sold 2,500 shares of the stock in a transaction 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 in the company, valued at approximately $13,134,579.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert G. Painter sold 3,500 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $62.93, for a total value of $220,255.00. Following the completion of the sale, 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 ninety days, insiders sold 16,828 shares of company stock worth $1,013,519. 0.47% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trimble

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. lifted its stake 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 worth $3,437,000 after buying an additional 14,729 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in 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 period. Raymond James Financial Services Advisors Inc. grew its stake in Trimble by 3.5% during 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 purchasing an additional 550 shares during the last quarter. Forsta AP Fonden acquired a new position in shares of Trimble in the third quarter valued at about $2,795,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Trimble by 9.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 109,124 shares of the scientific and technical instruments company’s stock worth $5,877,000 after purchasing an additional 9,468 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

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.