Trimble’s (TRMB) “Overweight” Rating Reaffirmed at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Trimble (NASDAQ:TRMB) in a research report released on Monday morning, Benzinga reports. They currently have a $73.00 target price on the scientific and technical instruments company’s stock.

A number of other brokerages also recently weighed in on TRMB. JPMorgan Chase & Co. upped their price objective on shares of Trimble from $48.00 to $56.00 and gave the stock a neutral rating in a research report on Friday, February 9th. Robert W. Baird upped their price objective on shares of Trimble from $59.00 to $65.00 and gave the stock an outperform rating in a research report on Tuesday, February 13th. StockNews.com downgraded shares of Trimble from a buy rating to a hold rating in a research report on Saturday, February 10th. Finally, Oppenheimer upped their price objective on shares of Trimble from $65.00 to $72.00 and gave the stock an outperform rating in a research report on Thursday, March 14th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $64.83.

Trimble Trading Down 0.7 %

NASDAQ TRMB opened at $58.49 on Monday. The company has a market capitalization of $14.37 billion, a PE ratio of 46.79, a P/E/G ratio of 2.66 and a beta of 1.50. The company has a fifty day moving average of $61.33 and a 200 day moving average of $53.16. Trimble has a 1 year low of $39.57 and a 1 year high of $65.55. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.00 and a quick ratio of 0.87.

Trimble (NASDAQ:TRMB) last posted its earnings results 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 the consensus estimate of $908.43 million. Trimble had a net margin of 8.19% and a return on equity of 12.59%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 earnings per share. Research analysts forecast that Trimble will post 2.23 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Robert G. Painter sold 3,500 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $62.50, for a total transaction of $218,750.00. Following the completion of the sale, the chief executive officer now owns 183,555 shares of the company’s stock, valued at approximately $11,472,187.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Robert G. Painter sold 3,500 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $62.50, for a total transaction of $218,750.00. Following the completion of the sale, the chief executive officer now owns 183,555 shares of the company’s stock, valued at approximately $11,472,187.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert G. Painter sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total transaction of $136,875.00. Following the sale, the chief executive officer now directly owns 239,901 shares of the company’s stock, valued at approximately $13,134,579.75. The disclosure for this sale can be found here. Insiders sold a total of 15,381 shares of company stock worth $928,002 in the last 90 days. Insiders own 0.61% of the company’s stock.

Institutional Trading of Trimble

Hedge funds have recently made changes to their positions in the company. Clear Street Markets LLC grew its stake in shares of Trimble by 93.2% in 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 grew its stake in shares of Trimble by 798.1% in 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 during the period. Frazier Financial Advisors LLC purchased a new position in shares of Trimble during the 4th quarter worth approximately $26,000. Itau Unibanco Holding S.A. purchased a new position in shares of Trimble during the 2nd quarter worth approximately $42,000. Finally, Operose Advisors LLC purchased a new position in shares of Trimble during the 3rd quarter worth approximately $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.