Trimble Inc. (NASDAQ:TRMB) Receives $65.33 Average PT from Analysts

Shares of Trimble Inc. (NASDAQ:TRMB) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $65.33.

Several analysts recently commented on the company. Oppenheimer reiterated an “outperform” rating and issued a $72.00 target price on shares of Trimble in a report on Wednesday, August 7th. Robert W. Baird raised their price target on shares of Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Piper Sandler reiterated an “overweight” rating and issued a $73.00 price target on shares of Trimble in a research report on Monday, August 19th. JPMorgan Chase & Co. dropped their price target on Trimble from $65.00 to $58.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research note on Thursday.

Trimble Price Performance

Shares of TRMB stock opened at $56.50 on Friday. Trimble has a 52 week low of $39.57 and a 52 week high of $65.55. The stock has a market capitalization of $13.80 billion, a PE ratio of 58.85, a PEG ratio of 2.50 and a beta of 1.48. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99. The stock’s fifty day moving average is $55.08 and its 200-day moving average is $57.52.

Trimble (NASDAQ:TRMB) last released its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The company had revenue of $870.80 million during the quarter, compared to analysts’ expectations of $862.50 million. During the same quarter in the prior year, the company earned $0.51 earnings per share. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. Equities research analysts expect that Trimble will post 2.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TRMB. Generation Investment Management LLP increased its stake in Trimble by 89.5% during the 4th quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company’s stock worth $652,787,000 after buying an additional 5,796,030 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Trimble by 1,387.6% during the second quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock worth $215,176,000 after purchasing an additional 3,589,249 shares during the last quarter. Norges Bank purchased a new position in Trimble during the 4th quarter worth approximately $132,319,000. AQR Capital Management LLC increased its holdings in shares of Trimble by 2,035.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,146,995 shares of the scientific and technical instruments company’s stock valued at $63,635,000 after acquiring an additional 1,093,275 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in shares of Trimble by 25.4% in the first quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock valued at $164,087,000 after buying an additional 516,789 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other 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.