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

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

Several other brokerages also recently weighed in on TRMB. Piper Sandler reiterated an overweight rating and issued a $73.00 price target on shares of Trimble in a report on Monday, April 15th. StockNews.com lowered Trimble from a buy rating to a hold rating in a research note on Saturday, February 10th. Robert W. Baird increased 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. Finally, Oppenheimer lifted 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Trimble presently has a consensus rating of Moderate Buy and an average target price of $66.67.

Trimble Stock Down 6.9 %

TRMB opened at $55.93 on Wednesday. The firm has a market cap of $13.66 billion, a P/E ratio of 58.26, a PEG ratio of 2.51 and a beta of 1.51. The business’s fifty day simple moving average is $61.55 and its 200 day simple moving average is $53.80. Trimble has a 52 week low of $39.57 and a 52 week high of $65.55. 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 released its quarterly earnings results 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 company had revenue of $932.40 million for the quarter, compared to analysts’ expectations of $908.43 million. Trimble had a net margin of 8.19% and a return on equity of 12.59%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $0.52 EPS. As a group, equities research analysts anticipate that Trimble will post 2.23 EPS for the current fiscal year.

Insider Activity at Trimble

In other Trimble news, CEO Robert G. Painter sold 2,500 shares of the company’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 completion of the sale, the chief executive officer now directly owns 239,901 shares in the company, 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 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 transaction 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 filing with the SEC, which is available at this link. Also, VP Jennifer Allison sold 5,000 shares of the 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 completion of the sale, the vice president now directly owns 2,315 shares of the company’s stock, valued at approximately $137,927.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,828 shares of company stock worth $1,013,519. 0.47% of the stock is owned by insiders.

Institutional Investors Weigh In On Trimble

Several institutional investors and hedge funds have recently modified their holdings of TRMB. Frazier Financial Advisors LLC acquired a new position in Trimble during the 4th quarter worth approximately $26,000. Tobam acquired a new position in shares of Trimble during the first quarter worth $35,000. Operose Advisors LLC purchased a new position in shares of Trimble in the third quarter valued at $43,000. Principal Securities Inc. acquired a new stake in Trimble during the 4th quarter valued at $52,000. Finally, Sound Income Strategies LLC grew its holdings in Trimble by 171.9% during the 1st quarter. Sound Income Strategies LLC now owns 998 shares of the scientific and technical instruments company’s stock valued at $64,000 after purchasing an additional 631 shares in the last quarter. Hedge funds and other institutional investors 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.