Trimble Inc. (NASDAQ:TRMB) Receives $64.83 Consensus Target Price from Brokerages

Trimble Inc. (NASDAQ:TRMB) has received a consensus recommendation of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $64.83.

Several research firms recently commented on TRMB. Oppenheimer boosted their price objective on shares of Trimble from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, March 14th. Piper Sandler reiterated an “overweight” rating and issued a $73.00 target price on shares of Trimble in a research note on Monday, April 15th. JPMorgan Chase & Co. upped their target price on shares of Trimble from $48.00 to $56.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. StockNews.com downgraded shares of Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Finally, Robert W. Baird upped their target price on shares of Trimble from $59.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th.

Trimble Trading Up 1.7 %

NASDAQ:TRMB opened at $58.94 on Tuesday. Trimble has a one year low of $39.57 and a one year high of $65.55. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.00 and a quick ratio of 0.87. The company’s 50-day simple moving average is $61.64 and its 200 day simple moving average is $53.30. The firm has a market capitalization of $14.39 billion, a P/E ratio of 47.15, a PEG ratio of 2.60 and a beta of 1.50.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data 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. Trimble had a net margin of 8.19% and a return on equity of 12.59%. The business had revenue of $932.40 million for the quarter, compared to analyst estimates of $908.43 million. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Trimble’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, analysts forecast that Trimble will post 2.23 EPS for the current fiscal year.

Insider Activity at Trimble

In related news, CEO Robert G. Painter sold 2,500 shares of the 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 owns 239,901 shares in the company, valued at $13,134,579.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Trimble news, VP Jennifer Allison sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were 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 $137,927.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert G. Painter sold 2,500 shares of the company’s 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 sale, the chief executive officer now directly owns 239,901 shares of the company’s stock, valued at $13,134,579.75. 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 quarter. Company insiders own 0.47% of the company’s stock.

Institutional Trading of Trimble

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Generation Investment Management LLP increased its stake in shares of 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 worth $652,787,000 after purchasing an additional 5,796,030 shares in the last quarter. Norges Bank purchased a new stake in shares of Trimble in the fourth quarter worth $132,319,000. Morgan Stanley increased its stake in shares of 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 worth $412,285,000 after purchasing an additional 694,842 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Trimble by 13.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,189,469 shares of the scientific and technical instruments company’s stock worth $276,080,000 after purchasing an additional 603,020 shares in the last quarter. Finally, Contour Asset Management LLC increased its stake in shares of Trimble by 14.6% in the fourth quarter. Contour Asset Management LLC now owns 3,479,817 shares of the scientific and technical instruments company’s stock worth $185,126,000 after purchasing an additional 442,131 shares in the last quarter. 93.21% of the stock is 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.