Piper Sandler Reiterates “Overweight” Rating for Trimble (NASDAQ:TRMB)

Trimble (NASDAQ:TRMB)‘s stock had its “overweight” rating reissued by Piper Sandler in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $73.00 price objective on the scientific and technical instruments company’s stock. Piper Sandler’s target price would indicate a potential upside of 23.90% from the company’s previous close.

Several other brokerages have also weighed in on TRMB. StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Robert W. Baird increased their price objective on Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, February 13th. Oppenheimer increased 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. Finally, JPMorgan Chase & Co. increased their target price on Trimble from $48.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Trimble presently has an average rating of “Moderate Buy” and an average target price of $64.83.

Trimble Stock Performance

TRMB stock opened at $58.92 on Monday. The firm has a market cap of $14.48 billion, a PE ratio of 47.14, a P/E/G ratio of 2.71 and a beta of 1.50. The company has a quick ratio of 0.87, a current ratio of 1.00 and a debt-to-equity ratio of 0.56. The business has a 50 day moving average of $61.20 and a 200-day moving average of $53.12. Trimble has a 12-month low of $39.57 and a 12-month high of $65.55.

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

Insiders Place Their Bets

In other Trimble news, CEO Robert G. Painter sold 3,500 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $62.50, for a total transaction of $218,750.00. Following the sale, the chief executive officer now owns 183,555 shares in the company, valued at $11,472,187.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Trimble news, CEO Robert G. Painter sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $62.50, for a total value of $218,750.00. Following the sale, the chief executive officer now owns 183,555 shares of the company’s stock, valued at approximately $11,472,187.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Jennifer Allison sold 5,000 shares of the business’s stock in a transaction dated 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 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. Insiders have sold a total of 15,146 shares of company stock worth $913,634 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of Trimble

Several institutional investors and hedge funds have recently made changes to their positions in TRMB. 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 in the last quarter. IFP Advisors Inc raised its position in shares of Trimble by 798.1% during the 2nd quarter. IFP Advisors Inc now owns 467 shares of the scientific and technical instruments company’s stock valued at $25,000 after buying an additional 415 shares in the last quarter. Frazier Financial Advisors LLC purchased a new stake in shares of Trimble during the 4th quarter valued at $26,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Trimble during the 2nd quarter valued at $42,000. Finally, Operose Advisors LLC purchased a new stake in shares of Trimble during the 3rd quarter valued at $43,000. Hedge funds and other institutional investors 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.