Trimble Inc. (NASDAQ:TRMB) Receives $66.67 Consensus Price Target from Analysts

Shares of Trimble Inc. (NASDAQ:TRMB) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $66.67.

A number of research analysts have recently weighed in on the company. Piper Sandler restated an “overweight” rating and set a $73.00 price objective on shares of Trimble in a research report on Monday, May 6th. Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research note on Monday, May 6th. JPMorgan Chase & Co. raised their target price on shares of Trimble from $57.00 to $67.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, Raymond James restated an “outperform” rating and issued a $65.00 price target on shares of Trimble in a research report on Wednesday, May 15th.

Insider Buying and Selling

In related news, SVP Peter Large sold 1,447 shares of Trimble stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total transaction of $85,517.70. Following the completion of the transaction, the senior vice president now directly owns 8,220 shares of the company’s stock, valued at approximately $485,802. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Trimble news, CEO Robert G. Painter sold 3,500 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $62.50, for a total value of $218,750.00. Following the sale, the chief executive officer now owns 183,555 shares in the company, valued at $11,472,187.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Peter Large sold 1,447 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total transaction of $85,517.70. Following the sale, the senior vice president now directly owns 8,220 shares of the company’s stock, valued at $485,802. The disclosure for this sale can be found here. Insiders sold a total of 5,182 shares of company stock worth $318,636 over the last three months. 0.47% of the stock is owned by insiders.

Institutional Investors Weigh In On Trimble

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. increased 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 worth $68,000 after acquiring an additional 196 shares during the period. Fulton Bank N.A. grew its stake in Trimble by 2.6% in the first quarter. Fulton Bank N.A. now owns 7,725 shares of the scientific and technical instruments company’s stock worth $497,000 after purchasing an additional 199 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Trimble by 6.8% during the 4th quarter. First Eagle Investment Management LLC now owns 3,145 shares of the scientific and technical instruments company’s stock worth $167,000 after purchasing an additional 200 shares during the period. Czech National Bank raised its position in Trimble by 0.5% during the 1st quarter. Czech National Bank now owns 43,771 shares of the scientific and technical instruments company’s stock valued at $2,817,000 after purchasing an additional 201 shares in the last quarter. Finally, SVB Wealth LLC lifted its holdings in shares of Trimble by 4.8% in the 1st quarter. SVB Wealth LLC now owns 4,445 shares of the scientific and technical instruments company’s stock worth $286,000 after buying an additional 204 shares during the period. Institutional investors own 93.21% of the company’s stock.

Trimble Stock Performance

NASDAQ TRMB opened at $56.22 on Friday. The business has a 50-day moving average price of $56.57 and a 200-day moving average price of $56.98. The firm has a market cap of $13.73 billion, a price-to-earnings ratio of 58.56, a price-to-earnings-growth ratio of 2.54 and a beta of 1.50. Trimble has a twelve month low of $39.57 and a twelve month high of $65.55. The company has a quick ratio of 0.88, a current ratio of 1.00 and a debt-to-equity ratio of 0.57.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings results on Friday, May 3rd. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. Trimble had a return on equity of 12.04% and a net margin of 6.25%. The business had revenue of $953.30 million during the quarter, compared to the consensus estimate of $921.15 million. As a group, equities research analysts predict that Trimble will post 2.21 EPS for the current fiscal 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.