Trimble (NASDAQ:TRMB) Earns “Outperform” Rating from Oppenheimer

Oppenheimer reissued their outperform rating on shares of Trimble (NASDAQ:TRMB) in a research report released on Monday morning, Benzinga reports. The brokerage currently has a $72.00 price target on the scientific and technical instruments company’s stock.

TRMB has been the subject of a number of other reports. Piper Sandler reaffirmed an overweight rating and issued a $73.00 target price on shares of Trimble in a report on Monday, April 15th. Robert W. Baird increased their price objective on Trimble from $59.00 to $65.00 and gave the stock an outperform rating in a research report on Tuesday, February 13th. JPMorgan Chase & Co. boosted their target price on Trimble from $57.00 to $67.00 and gave the company a neutral rating in a report on Wednesday, May 1st. Finally, StockNews.com downgraded Trimble from a buy rating to a hold rating in a report on Saturday, February 10th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Trimble presently has a consensus rating of Moderate Buy and a consensus target price of $66.67.

Trimble Stock Performance

Shares of TRMB stock opened at $56.54 on Monday. The company has a market cap of $13.81 billion, a P/E ratio of 58.90, a PEG ratio of 2.51 and a beta of 1.51. The firm has a fifty day moving average price of $61.26 and a 200 day moving average price of $53.94. The company has a current ratio of 1.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.57. Trimble has a 12 month low of $39.57 and a 12 month high of $65.55.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data 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. Trimble had a return on equity of 12.04% and a net margin of 6.25%. The business had revenue of $932.40 million during the quarter, compared to analysts’ expectations of $908.43 million. During the same period in the prior year, the firm posted $0.52 EPS. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. Sell-side analysts predict that Trimble will post 2.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Trimble news, VP Jennifer Allison sold 5,000 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 2,315 shares in the company, valued at approximately $137,927.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other 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 completion of the sale, the chief executive officer now directly owns 239,901 shares in the company, valued at approximately $13,134,579.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jennifer Allison sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was 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 approximately $137,927.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,828 shares of company stock worth $1,013,519. 0.47% of the stock is owned by corporate insiders.

Institutional Trading of Trimble

A number of institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its position in shares of Trimble by 18.3% in the 4th quarter. First Horizon Advisors Inc. now owns 1,269 shares of the scientific and technical instruments company’s stock worth $68,000 after buying an additional 196 shares in the last quarter. Fulton Bank N.A. lifted its holdings in shares of Trimble by 2.6% in the first quarter. Fulton Bank N.A. now owns 7,725 shares of the scientific and technical instruments company’s stock valued at $497,000 after purchasing an additional 199 shares in the last quarter. First Eagle Investment Management LLC grew its position in shares of Trimble by 6.8% in the fourth quarter. First Eagle Investment Management LLC now owns 3,145 shares of the scientific and technical instruments company’s stock valued at $167,000 after purchasing an additional 200 shares during the last quarter. Czech National Bank grew its position in shares of Trimble by 0.5% in the first quarter. Czech National Bank now owns 43,771 shares of the scientific and technical instruments company’s stock valued at $2,817,000 after purchasing an additional 201 shares during the last quarter. Finally, Caprock Group LLC raised its position in shares of Trimble by 1.9% during the 1st quarter. Caprock Group LLC now owns 12,584 shares of the scientific and technical instruments company’s stock worth $810,000 after purchasing an additional 233 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.