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

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

Several other analysts also recently issued reports on TRMB. Robert W. Baird lifted their price target on shares of Trimble from $59.00 to $65.00 and gave the company an outperform rating in a research report on Tuesday, February 13th. JPMorgan Chase & Co. upped their price target on Trimble from $48.00 to $56.00 and gave the company a neutral rating in a research report on Friday, February 9th. StockNews.com lowered Trimble from a buy rating to a hold rating in a report on Saturday, February 10th. Finally, Oppenheimer upped their target price on Trimble from $65.00 to $72.00 and gave the stock an outperform rating in a research note on Thursday, March 14th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $64.83.

Trimble Trading Down 1.9 %

TRMB opened at $59.41 on Monday. The company’s 50 day moving average is $61.05 and its 200-day moving average is $53.09. Trimble has a 1-year low of $39.57 and a 1-year high of $65.55. 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 company has a market cap of $14.60 billion, a P/E ratio of 47.53, a PEG ratio of 2.71 and a beta of 1.50.

Trimble (NASDAQ:TRMB) last released its quarterly earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. Trimble had a net margin of 8.19% and a return on equity of 12.59%. The firm had revenue of $932.40 million during the quarter, compared to analyst estimates of $908.43 million. During the same quarter last year, the business earned $0.52 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. Equities research analysts predict that Trimble will post 2.23 earnings per share for the current fiscal year.

Insider Activity at Trimble

In other Trimble news, CEO Robert G. Painter sold 2,500 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total value of $136,875.00. Following the completion of the transaction, the chief executive officer now owns 239,901 shares in the company, valued at $13,134,579.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Robert G. Painter sold 3,500 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $62.50, for a total transaction of $218,750.00. Following the completion of the transaction, the chief executive officer now directly owns 183,555 shares in the company, valued at $11,472,187.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert G. Painter sold 2,500 shares of the firm’s stock in a transaction 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 owns 239,901 shares of the company’s stock, valued at $13,134,579.75. The disclosure for this sale can be found here. Insiders sold a total of 15,146 shares of company stock worth $913,634 over the last quarter. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trimble

Several institutional investors and hedge funds have recently modified their holdings of the stock. United Capital Financial Advisers LLC increased its holdings in shares of Trimble by 0.3% during the first quarter. United Capital Financial Advisers LLC now owns 69,939 shares of the scientific and technical instruments company’s stock valued at $5,045,000 after acquiring an additional 186 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Trimble by 18.3% during the fourth quarter. First Horizon Advisors Inc. now owns 1,269 shares of the scientific and technical instruments company’s stock valued at $68,000 after buying an additional 196 shares during the last quarter. Fulton Bank N.A. boosted its position in shares of Trimble by 2.6% during the first quarter. Fulton Bank N.A. now owns 7,725 shares of the scientific and technical instruments company’s stock valued at $497,000 after buying an additional 199 shares during the last quarter. First Eagle Investment Management LLC boosted its position in shares of Trimble by 6.8% during the fourth quarter. First Eagle Investment Management LLC now owns 3,145 shares of the scientific and technical instruments company’s stock valued at $167,000 after buying an additional 200 shares during the last quarter. Finally, Czech National Bank boosted its position in shares of Trimble by 0.5% during the first quarter. Czech National Bank now owns 43,771 shares of the scientific and technical instruments company’s stock valued at $2,817,000 after buying an additional 201 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors.

Trimble Company Profile

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.