Trimble (NASDAQ:TRMB) Earns “Overweight” Rating from Piper Sandler

Trimble (NASDAQ:TRMB)‘s stock had its “overweight” rating restated by Piper Sandler in a research report issued on Monday, Benzinga reports. They presently have a $73.00 target price on the scientific and technical instruments company’s stock. Piper Sandler’s target price points to a potential upside of 30.52% from the stock’s current price.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. lifted their price target on Trimble from $57.00 to $67.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Robert W. Baird boosted their target price on Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, February 13th. Finally, Oppenheimer reissued an “outperform” rating and issued a $72.00 target price on shares of Trimble in a report on Monday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Trimble currently has a consensus rating of “Moderate Buy” and an average price target of $66.67.

Trimble Price Performance

TRMB stock opened at $55.93 on Monday. The business has a 50 day moving average price of $61.55 and a 200 day moving average price of $53.81. The stock has a market cap of $13.66 billion, a price-to-earnings ratio of 58.26, a PEG ratio of 2.51 and a beta of 1.51. Trimble has a fifty-two week low of $39.57 and a fifty-two week high of $65.55. The company has a quick ratio of 0.88, a current ratio of 1.00 and a debt-to-equity ratio of 0.57.

Trimble (NASDAQ:TRMB) last released its quarterly earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 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 analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share. Equities research analysts anticipate that Trimble will post 2.23 earnings per share for the current fiscal year.

Insider Activity at Trimble

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 directly owns 239,901 shares in the company, valued at $13,134,579.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 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 directly owns 239,901 shares in the company, valued at $13,134,579.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Jennifer Allison sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total value of $297,900.00. Following the completion of the sale, the vice president now owns 2,315 shares in the company, valued at $137,927.70. The disclosure for this sale can be found here. Insiders have sold a total of 16,828 shares of company stock worth $1,013,519 over the last three months. 0.47% of the stock is currently owned by corporate insiders.

Institutional Trading of Trimble

Several institutional investors and hedge funds have recently made changes to their positions in TRMB. Schonfeld Strategic Advisors LLC increased its stake in Trimble by 383.0% in the third 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 increased its stake in Trimble by 43.6% in 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 purchasing an additional 176,139 shares during the last quarter. Hunter Associates Investment Management LLC increased its stake in 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 purchasing an additional 13,899 shares during the last quarter. Mission Wealth Management LP increased its stake in Trimble by 6.0% in the fourth quarter. Mission Wealth Management LP now owns 20,277 shares of the scientific and technical instruments company’s stock valued at $1,079,000 after purchasing an additional 1,145 shares during 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 worth $7,121,000 after acquiring an additional 74,667 shares during the last quarter. 93.21% of the stock is currently 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.