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

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

A number of other research analysts also recently commented on TRMB. Robert W. Baird increased their target price on Trimble from $59.00 to $65.00 and gave the stock an outperform rating in a report on Tuesday, February 13th. StockNews.com cut shares of Trimble from a buy rating to a hold rating in a report on Saturday, February 10th. JPMorgan Chase & Co. lifted their price target on shares of Trimble from $48.00 to $56.00 and gave the company a neutral rating in a report on Friday, February 9th. Finally, Oppenheimer increased their price objective on shares of 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. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $64.83.

Trimble Price Performance

Shares of NASDAQ TRMB opened at $57.86 on Monday. The business has a 50 day moving average price of $61.44 and a two-hundred day moving average price of $53.19. Trimble has a fifty-two week low of $39.57 and a fifty-two week high of $65.55. The firm has a market cap of $14.22 billion, a PE ratio of 46.29, a price-to-earnings-growth ratio of 2.64 and a beta of 1.50. The company has a quick ratio of 0.87, a current ratio of 1.00 and a debt-to-equity ratio of 0.56.

Trimble (NASDAQ:TRMB) last issued 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 analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $932.40 million during the quarter, compared to analyst estimates of $908.43 million. Trimble had a net margin of 8.19% and a return on equity of 12.59%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Sell-side analysts expect that Trimble will post 2.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Trimble news, CEO Robert G. Painter sold 2,500 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 239,901 shares in the company, valued at $13,134,579.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Robert G. Painter sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total transaction of $136,875.00. Following the completion of the sale, the chief executive officer now directly owns 239,901 shares of the company’s stock, valued at $13,134,579.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Peter Large sold 1,447 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $59.10, for a total value 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. In the last three months, insiders have sold 16,828 shares of company stock worth $1,013,519. 0.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TRMB. United Capital Financial Advisers LLC grew its position in Trimble by 0.3% in the first quarter. United Capital Financial Advisers LLC now owns 69,939 shares of the scientific and technical instruments company’s stock worth $5,045,000 after acquiring an additional 186 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Trimble by 18.3% in the 4th quarter. First Horizon Advisors Inc. now owns 1,269 shares of the scientific and technical instruments company’s stock valued at $68,000 after purchasing an additional 196 shares during the last quarter. Fulton Bank N.A. boosted its holdings 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 position in 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 worth $167,000 after buying an additional 200 shares during the last quarter. Finally, Czech National Bank increased its position in 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 worth $2,817,000 after buying an additional 201 shares during the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

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.