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

Piper Sandler reaffirmed their overweight rating on shares of Trimble (NASDAQ:TRMB) in a research report released on Thursday morning,Benzinga reports. The firm currently has a $84.00 price objective on the scientific and technical instruments company’s stock.

Other research analysts also recently issued research reports about the stock. Oppenheimer upped their price target on shares of Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Cfra raised shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 target price for the company in a report on Thursday, February 20th. Finally, StockNews.com lowered shares of Trimble from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 3rd. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Trimble has a consensus rating of “Buy” and an average price target of $86.00.

Trimble Price Performance

Shares of Trimble stock opened at $68.12 on Thursday. The firm has a market cap of $16.25 billion, a PE ratio of 11.19, a P/E/G ratio of 3.09 and a beta of 1.67. Trimble has a twelve month low of $48.65 and a twelve month high of $77.78. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average price of $63.87 and a 200 day moving average price of $69.04.

Trimble (NASDAQ:TRMB) last announced its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. Trimble had a return on equity of 10.56% and a net margin of 40.84%. The business had revenue of $840.60 million during the quarter, compared to the consensus estimate of $810.45 million. During the same period in the prior year, the company posted $0.64 EPS. The business’s quarterly revenue was down 11.8% on a year-over-year basis. Sell-side analysts predict that Trimble will post 2.37 earnings per share for the current fiscal year.

Insider Activity

In other Trimble news, Director James Calvin Dalton sold 2,141 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $71.79, for a total transaction of $153,702.39. Following the transaction, the director now directly owns 10,162 shares in the company, valued at $729,529.98. This represents a 17.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher F. Keating sold 5,709 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total value of $411,048.00. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Trimble

A number of hedge funds have recently bought and sold shares of the stock. Crowley Wealth Management Inc. acquired a new stake in Trimble in the fourth quarter valued at $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Trimble in the 4th quarter valued at about $35,000. SBI Securities Co. Ltd. acquired a new stake in shares of Trimble in the 4th quarter valued at about $36,000. Central Pacific Bank Trust Division grew its position in shares of Trimble by 174.9% during the first quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company’s stock worth $37,000 after acquiring an additional 355 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Trimble by 164.8% in the 4th quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company’s stock valued at $48,000 after acquiring an additional 422 shares during the period. 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.