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

Shares of Trimble Inc. (NASDAQ:TRMB) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $64.83.

Several research analysts have issued reports on TRMB shares. StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Piper Sandler reiterated an “overweight” rating and issued a $73.00 target price on shares of Trimble in a research note on Monday. JPMorgan Chase & Co. raised their target price on Trimble from $48.00 to $56.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Oppenheimer increased their price objective on shares of Trimble from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. Finally, Robert W. Baird boosted 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.

Insider Activity

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 value of $136,875.00. Following the transaction, the chief executive officer now directly owns 239,901 shares in the company, valued at $13,134,579.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Jennifer Allison sold 5,000 shares of the company’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 completion of the sale, the vice president now owns 2,315 shares in the company, valued at $137,927.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert G. Painter sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total value of $136,875.00. Following the transaction, the chief executive officer now owns 239,901 shares in the company, valued at approximately $13,134,579.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,828 shares of company stock valued at $1,013,519. 0.61% of the stock is currently owned by insiders.

Institutional Trading of Trimble

Hedge funds have recently modified their holdings of the company. Schonfeld Strategic Advisors LLC grew its holdings in Trimble by 383.0% during the third quarter. Schonfeld Strategic Advisors LLC now owns 220,587 shares of the scientific and technical instruments company’s stock valued at $11,881,000 after purchasing an additional 174,917 shares during the period. Barclays PLC grew its holdings in shares of Trimble by 43.6% in the 3rd quarter. Barclays PLC now owns 580,280 shares of the scientific and technical instruments company’s stock valued at $31,254,000 after buying an additional 176,139 shares during the period. Raymond James & Associates increased its position in shares of Trimble by 126.1% in the 4th quarter. Raymond James & Associates now owns 133,858 shares of the scientific and technical instruments company’s stock valued at $7,121,000 after buying an additional 74,667 shares in the last quarter. Vontobel Holding Ltd. raised its stake in Trimble by 10.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,560,848 shares of the scientific and technical instruments company’s stock worth $84,067,000 after buying an additional 150,125 shares during the period. Finally, Comerica Bank bought a new position in Trimble during the second quarter worth about $4,647,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $57.86 on Tuesday. The business’s 50 day moving average is $61.44 and its 200-day moving average is $53.19. The company has a current ratio of 1.00, a quick ratio of 0.87 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $14.22 billion, a PE ratio of 46.29, a PEG ratio of 2.64 and a beta of 1.50. Trimble has a 1-year low of $39.57 and a 1-year 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The company 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 revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 EPS. Sell-side analysts predict that Trimble will post 2.23 earnings per share 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.