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

Piper Sandler reaffirmed their overweight rating on shares of Trimble (NASDAQ:TRMB) in a research note published on Monday morning, Benzinga reports. The brokerage currently has a $73.00 target price on the scientific and technical instruments company’s stock.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. increased their price target on Trimble from $57.00 to $67.00 and gave the company a neutral rating in a research note on Wednesday, May 1st. Robert W. Baird increased their price target on Trimble from $59.00 to $65.00 and gave the company an outperform rating in a research note on Tuesday, February 13th. Oppenheimer reissued an outperform rating and set a $72.00 price target on shares of Trimble in a research note on Monday. Finally, StockNews.com lowered Trimble from a buy rating to a hold rating in a research note on Saturday, February 10th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $66.67.

Trimble Stock Performance

NASDAQ TRMB opened at $56.54 on Monday. The firm has a market cap of $13.81 billion, a price-to-earnings ratio of 58.90, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. The company has a quick ratio of 0.88, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $61.26 and a 200-day moving average price of $53.94. Trimble has a twelve month low of $39.57 and a twelve 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 for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $932.40 million during the quarter, compared to analyst estimates of $908.43 million. Trimble had a return on equity of 12.04% and a net margin of 6.25%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 earnings per share. As a group, equities research analysts predict that Trimble will post 2.23 EPS for the current fiscal year.

Insider Buying and Selling at Trimble

In other Trimble news, SVP Peter Large sold 1,447 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $59.10, for a total transaction of $85,517.70. Following the sale, the senior vice president now directly owns 8,220 shares in the company, valued at $485,802. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Peter Large sold 1,447 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $59.10, for a total value of $85,517.70. Following the sale, the senior vice president now directly owns 8,220 shares in the company, valued at $485,802. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Robert G. Painter sold 3,500 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $62.50, for a total value of $218,750.00. Following the completion of the sale, the chief executive officer now owns 183,555 shares in the company, valued at $11,472,187.50. 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 ninety days. Company insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Trimble

Several hedge funds and other institutional investors have recently modified their holdings of TRMB. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Trimble by 30.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 63,814 shares of the scientific and technical instruments company’s stock worth $3,437,000 after buying an additional 14,729 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in Trimble by 37.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 40,782 shares of the scientific and technical instruments company’s stock worth $2,197,000 after purchasing an additional 11,112 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Trimble by 3.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 16,463 shares of the scientific and technical instruments company’s stock worth $887,000 after purchasing an additional 550 shares in the last quarter. Forsta AP Fonden bought a new position in Trimble in the third quarter worth approximately $2,795,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Trimble by 9.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 109,124 shares of the scientific and technical instruments company’s stock worth $5,877,000 after purchasing an additional 9,468 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

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.