Analysts Set Trimble Inc. (NASDAQ:TRMB) PT at $68.40

Trimble Inc. (NASDAQ:TRMB) has earned an average rating of “Moderate Buy” from the five analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $68.40.

A number of brokerages recently issued reports on TRMB. Oppenheimer restated an “outperform” rating and issued a $72.00 target price on shares of Trimble in a research note on Wednesday, August 7th. Robert W. Baird raised their target price on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised their target price on Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Piper Sandler restated an “overweight” rating and issued a $73.00 target price on shares of Trimble in a research note on Monday, August 19th. Finally, StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research report on Friday, November 1st.

Institutional Investors Weigh In On Trimble

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRMB. Victory Capital Management Inc. grew its position in shares of Trimble by 1,387.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock valued at $215,176,000 after acquiring an additional 3,589,249 shares during the period. AQR Capital Management LLC grew its position in shares of Trimble by 2,035.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,146,995 shares of the scientific and technical instruments company’s stock valued at $63,635,000 after acquiring an additional 1,093,275 shares during the period. Lazard Asset Management LLC grew its position in shares of Trimble by 25.4% during the 1st quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock valued at $164,087,000 after acquiring an additional 516,789 shares during the period. Impax Asset Management Group plc grew its position in shares of Trimble by 18.7% during the 3rd quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company’s stock valued at $169,978,000 after acquiring an additional 434,065 shares during the period. Finally, Capital Group Private Client Services Inc. grew its position in shares of Trimble by 77.8% during the 1st quarter. Capital Group Private Client Services Inc. now owns 891,592 shares of the scientific and technical instruments company’s stock valued at $57,383,000 after acquiring an additional 390,171 shares during the period. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Stock Performance

Shares of TRMB opened at $72.64 on Friday. Trimble has a 12 month low of $40.79 and a 12 month high of $73.17. The stock has a fifty day moving average price of $59.49 and a 200-day moving average price of $57.18. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25. The firm has a market cap of $17.74 billion, a PE ratio of 11.49, a P/E/G ratio of 2.75 and a beta of 1.49.

Trimble (NASDAQ:TRMB) last issued its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $870.80 million during the quarter, compared to analyst estimates of $862.50 million. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The firm’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. Equities research analysts predict that Trimble will post 2.23 earnings per share for the current fiscal year.

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.