Trimble Inc. (NASDAQ:TRMB) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Trimble Inc. (NASDAQ:TRMB – Get Rating) have been assigned an average recommendation of “Buy” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $85.17.

A number of research firms have issued reports on TRMB. JPMorgan Chase & Co. decreased their price target on shares of Trimble from $79.00 to $77.00 and set a “neutral” rating for the company in a report on Monday, March 28th. Zacks Investment Research upgraded shares of Trimble from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Tuesday, January 4th. Piper Sandler lifted their target price on shares of Trimble from $101.00 to $102.00 and gave the stock an “overweight” rating in a research note on Thursday, February 10th. StockNews.com assumed coverage on shares of Trimble in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Raymond James dropped their price objective on shares of Trimble from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, February 10th.

In related news, Director Sandra Macquillan sold 10,500 shares of the stock in a transaction that occurred on Monday, February 14th. The stock was sold at an average price of $66.44, for a total value of $697,620.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Ronald Bisio sold 2,660 shares of the company’s stock in a transaction that occurred on Friday, March 11th. The stock was sold at an average price of $65.98, for a total value of $175,506.80. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Several large investors have recently added to or reduced their stakes in TRMB. Norges Bank acquired a new position in shares of Trimble during the 4th quarter worth approximately $301,255,000. Thrivent Financial for Lutherans lifted its position in shares of Trimble by 10,875.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,212,913 shares of the scientific and technical instruments company’s stock valued at $105,754,000 after acquiring an additional 1,201,862 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Trimble by 170.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,865,065 shares of the scientific and technical instruments company’s stock valued at $153,402,000 after acquiring an additional 1,176,661 shares during the period. Select Equity Group L.P. raised its holdings in shares of Trimble by 31.7% during the 4th quarter. Select Equity Group L.P. now owns 4,076,035 shares of the scientific and technical instruments company’s stock worth $355,389,000 after buying an additional 980,979 shares in the last quarter. Finally, Impax Asset Management Group plc raised its holdings in shares of Trimble by 7.0% during the 4th quarter. Impax Asset Management Group plc now owns 8,512,207 shares of the scientific and technical instruments company’s stock worth $741,152,000 after buying an additional 555,983 shares in the last quarter. Institutional investors and hedge funds own 88.84% of the company’s stock.

NASDAQ:TRMB opened at $68.95 on Friday. Trimble has a 12 month low of $62.32 and a 12 month high of $96.49. The company has a 50 day simple moving average of $69.17 and a two-hundred day simple moving average of $77.81. The company has a current ratio of 1.22, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The company has a market cap of $17.26 billion, a PE ratio of 35.54, a price-to-earnings-growth ratio of 2.19 and a beta of 1.58.

Trimble (NASDAQ:TRMB – Get Rating) last announced its earnings results on Wednesday, February 9th. The scientific and technical instruments company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.02. The firm had revenue of $926.00 million for the quarter, compared to analysts’ expectations of $889.75 million. Trimble had a net margin of 13.47% and a return on equity of 15.08%. During the same period in the prior year, the company earned $0.53 EPS. Research analysts forecast that Trimble will post 2.43 earnings per share for the current year.

Trimble Company Profile (Get Rating)

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 route selection and design; 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.

Further Reading