Trimble Inc. (NASDAQ:TRMB) Receives $64.00 Consensus Price Target from Analysts

Trimble Inc. (NASDAQ:TRMB) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $64.00.

TRMB has been the subject of several analyst reports. Oppenheimer boosted their price objective on Trimble from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 14th. JPMorgan Chase & Co. boosted their price target on Trimble from $48.00 to $56.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Piper Sandler raised shares of Trimble from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $51.00 to $68.00 in a report on Tuesday, February 13th. Robert W. Baird raised their price target on shares of Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. Finally, StockNews.com downgraded shares of Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th.

Insider Buying and Selling

In other Trimble news, VP Jennifer Allison sold 5,000 shares of the firm’s stock in a transaction 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 transaction, the vice president now 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 at the SEC website. In other news, CEO Robert G. Painter sold 2,500 shares of Trimble stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $51.05, for a total transaction of $127,625.00. Following the transaction, the chief executive officer now owns 203,856 shares in the company, valued at approximately $10,406,848.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Jennifer Allison sold 5,000 shares of the company’s stock in a transaction dated 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 approximately $137,927.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,146 shares of company stock worth $822,509. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trimble

Several institutional investors and hedge funds have recently bought and sold shares of the company. Clear Street Markets LLC raised its position in shares of Trimble by 93.2% during the 1st quarter. Clear Street Markets LLC now owns 485 shares of the scientific and technical instruments company’s stock valued at $25,000 after buying an additional 234 shares during the period. IFP Advisors Inc raised its position in Trimble by 798.1% in the second quarter. IFP Advisors Inc now owns 467 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 415 shares during the period. Frazier Financial Advisors LLC acquired a new position in shares of Trimble in the 4th quarter valued at $26,000. Itau Unibanco Holding S.A. purchased a new position in shares of Trimble during the 2nd quarter worth $42,000. Finally, Operose Advisors LLC acquired a new stake in shares of Trimble during the 3rd quarter worth about $43,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Trading Up 1.7 %

Trimble stock opened at $64.36 on Friday. The stock has a 50-day moving average price of $58.50 and a 200 day moving average price of $52.14. The company has a market capitalization of $15.81 billion, a price-to-earnings ratio of 51.49, a price-to-earnings-growth ratio of 2.84 and a beta of 1.50. Trimble has a 52 week low of $39.57 and a 52 week high of $65.55. The company has a quick ratio of 0.87, a current ratio of 1.00 and a debt-to-equity ratio of 0.56.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Monday, February 12th. The scientific and technical instruments company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. The business had revenue of $932.40 million during the quarter, compared to analysts’ expectations of $908.43 million. Trimble had a net margin of 8.19% and a return on equity of 12.59%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 EPS. Sell-side analysts anticipate that Trimble will post 2.23 EPS for the current year.

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.