Trimble Inc. (NASDAQ:TRMB) Given Average Rating of “Buy” by Brokerages

Trimble Inc. (NASDAQ:TRMB) has earned a consensus recommendation of “Buy” from the thirteen brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $94.1818.

Several research analysts have commented on the stock. Piper Sandler restated an “overweight” rating and set a $97.00 price objective on shares of Trimble in a research report on Friday, November 7th. Barclays initiated coverage on Trimble in a research note on Tuesday, October 7th. They issued an “overweight” rating and a $100.00 price target on the stock. Oppenheimer reissued an “outperform” rating and set a $102.00 price target on shares of Trimble in a report on Thursday, November 6th. Wall Street Zen raised Trimble from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Zacks Research upgraded Trimble from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 11th.

Trimble Trading Up 1.5%

Shares of Trimble stock opened at $83.52 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 0.24. Trimble has a 12-month low of $52.91 and a 12-month high of $87.50. The company has a market capitalization of $19.87 billion, a price-to-earnings ratio of 57.21, a PEG ratio of 3.26 and a beta of 1.60. The firm’s 50-day moving average price is $79.49 and its two-hundred day moving average price is $78.92.

Trimble (NASDAQ:TRMB) last issued its earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 EPS for the quarter. Trimble had a net margin of 9.93% and a return on equity of 10.73%. The company had revenue of $856.50 million during the quarter. On average, analysts forecast that Trimble will post 2.37 earnings per share for the current fiscal year.

Trimble announced that its Board of Directors has initiated a stock repurchase plan on Friday, December 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the scientific and technical instruments company to repurchase up to 5.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at Trimble

In related news, Director Kaigham Gabriel sold 1,718 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $81.00, for a total value of $139,158.00. Following the completion of the transaction, the director owned 15,170 shares of the company’s stock, valued at $1,228,770. This represents a 10.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James Calvin Dalton sold 616 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $81.99, for a total transaction of $50,505.84. Following the completion of the sale, the director owned 13,193 shares in the company, valued at $1,081,694.07. This represents a 4.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,699 shares of company stock valued at $1,955,304 in the last quarter. 0.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trimble

A number of hedge funds and other institutional investors have recently bought and sold shares of TRMB. Salomon & Ludwin LLC acquired a new position in Trimble in the 3rd quarter worth about $25,000. Root Financial Partners LLC acquired a new stake in shares of Trimble during the third quarter valued at about $30,000. Quarry LP grew its holdings in shares of Trimble by 175.8% during the third quarter. Quarry LP now owns 364 shares of the scientific and technical instruments company’s stock worth $30,000 after purchasing an additional 232 shares during the last quarter. Hantz Financial Services Inc. increased its stake in shares of Trimble by 90.8% in the third quarter. Hantz Financial Services Inc. now owns 372 shares of the scientific and technical instruments company’s stock valued at $30,000 after buying an additional 177 shares during the period. Finally, Global Retirement Partners LLC increased its stake in shares of Trimble by 78.7% in the third quarter. Global Retirement Partners LLC now owns 411 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 181 shares during the period. 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.