Trimble’s (TRMB) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Trimble (NASDAQ:TRMB) in a 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 equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Trimble from $48.00 to $56.00 and gave the company a neutral rating in a report on Friday, February 9th. Robert W. Baird raised their price target on Trimble from $59.00 to $65.00 and gave the company an outperform rating in a report on Tuesday, February 13th. StockNews.com cut Trimble from a buy rating to a hold rating in a report on Saturday, February 10th. Finally, Oppenheimer raised their price target on Trimble from $65.00 to $72.00 and gave the company an outperform rating in a report on Thursday, March 14th. Two investment 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 an average rating of Moderate Buy and an average price target of $64.83.

Trimble Stock Performance

Shares of NASDAQ TRMB opened at $58.49 on Monday. The business has a fifty day simple moving average of $61.33 and a 200 day simple moving average of $53.16. The company has a current ratio of 1.00, a quick ratio of 0.87 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $14.37 billion, a price-to-earnings ratio of 46.79, a PEG ratio of 2.66 and a beta of 1.50. Trimble has a one year low of $39.57 and a one year high of $65.55.

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

Insider Transactions at Trimble

In other news, CEO Robert G. Painter sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was 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 available at the SEC website. In related news, CEO Robert G. Painter sold 2,500 shares of Trimble stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total value of $136,875.00. Following the sale, the chief executive officer now owns 239,901 shares of the company’s stock, valued at approximately $13,134,579.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert G. Painter sold 3,500 shares of Trimble stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $62.50, for a total value of $218,750.00. Following the completion of the sale, the chief executive officer now directly owns 183,555 shares in the company, valued at approximately $11,472,187.50. The disclosure for this sale can be found here. Insiders have sold a total of 15,381 shares of company stock valued at $928,002 over the last 90 days. 0.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trimble

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Trimble by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 29,213,613 shares of the scientific and technical instruments company’s stock valued at $1,554,164,000 after purchasing an additional 273,863 shares in the last quarter. Generation Investment Management LLP grew its stake in Trimble by 89.5% in the fourth quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company’s stock valued at $652,787,000 after purchasing an additional 5,796,030 shares in the last quarter. State Street Corp grew its stake in Trimble by 2.2% in the first quarter. State Street Corp now owns 10,092,648 shares of the scientific and technical instruments company’s stock valued at $529,057,000 after purchasing an additional 218,688 shares in the last quarter. Select Equity Group L.P. grew its stake in Trimble by 0.3% in the fourth quarter. Select Equity Group L.P. now owns 8,088,186 shares of the scientific and technical instruments company’s stock valued at $408,939,000 after purchasing an additional 26,670 shares in the last quarter. Finally, Morgan Stanley grew its stake in Trimble by 10.0% in the third quarter. Morgan Stanley now owns 7,654,744 shares of the scientific and technical instruments company’s stock valued at $412,285,000 after purchasing an additional 694,842 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

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.