Trimble Inc. (NASDAQ:TRMB) Receives $86.00 Consensus Target Price from Brokerages

Shares of Trimble Inc. (NASDAQ:TRMB) have earned an average rating of “Buy” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $86.00.

A number of research firms have weighed in on TRMB. Sanford C. Bernstein upped their price target on Trimble from $82.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Piper Sandler restated an “overweight” rating and set a $84.00 target price on shares of Trimble in a report on Wednesday, December 11th. StockNews.com lowered shares of Trimble from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 3rd. Cfra upgraded shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a research note on Thursday, February 20th. Finally, Robert W. Baird lifted their target price on Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th.

Trimble Trading Down 6.3 %

NASDAQ:TRMB opened at $56.51 on Tuesday. The stock has a market capitalization of $13.89 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 3.09 and a beta of 1.57. Trimble has a fifty-two week low of $48.65 and a fifty-two week high of $77.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07. The business’s 50-day simple moving average is $70.76 and its 200-day simple moving average is $69.14.

Insider Activity

In other news, VP Jennifer Allison sold 3,571 shares of Trimble stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $74.75, for a total value of $266,932.25. Following the completion of the sale, the vice president now directly owns 3,157 shares in the company, valued at approximately $235,985.75. The trade was a 53.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Calvin Dalton sold 2,141 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $71.79, for a total value of $153,702.39. Following the sale, the director now directly owns 10,162 shares in the company, valued at $729,529.98. This represents a 17.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,421 shares of company stock valued at $831,683. 0.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division raised its stake in Trimble by 174.9% during the first quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company’s stock worth $37,000 after acquiring an additional 355 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Trimble by 369.8% during the 1st quarter. Versant Capital Management Inc now owns 8,861 shares of the scientific and technical instruments company’s stock valued at $582,000 after purchasing an additional 6,975 shares during the last quarter. First Hawaiian Bank increased its position in Trimble by 20.9% during the 1st quarter. First Hawaiian Bank now owns 16,078 shares of the scientific and technical instruments company’s stock worth $1,056,000 after purchasing an additional 2,780 shares in the last quarter. Kera Capital Partners Inc. bought a new position in Trimble in the 1st quarter valued at approximately $274,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Trimble by 59.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 26,798 shares of the scientific and technical instruments company’s stock valued at $1,759,000 after buying an additional 10,033 shares in the last quarter. 93.21% of the stock is owned by 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.