Piper Sandler Reiterates “Overweight” Rating for Trimble (NASDAQ:TRMB)

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

A number of other analysts also recently weighed in on the stock. StockNews.com downgraded shares of Trimble from a buy rating to a hold rating in a report on Saturday, February 10th. JPMorgan Chase & Co. upped their price target on shares of Trimble from $48.00 to $56.00 and gave the stock a neutral rating in a report on Friday, February 9th. Oppenheimer upped their price objective on shares of Trimble from $65.00 to $72.00 and gave the stock an outperform rating in a research report on Thursday, March 14th. Finally, Robert W. Baird upped their price objective on shares of Trimble from $59.00 to $65.00 and gave the stock an outperform rating in a research report on Tuesday, February 13th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $64.83.

Trimble Stock Performance

Shares of Trimble stock opened at $59.41 on Monday. The company has a 50 day moving average of $61.05 and a 200-day moving average of $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 PE ratio of 47.53, a price-to-earnings-growth ratio of 2.71 and a beta of 1.50.

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 for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. Trimble had a net margin of 8.19% and a return on equity of 12.59%. The company had revenue of $932.40 million during the quarter, compared to the consensus estimate of $908.43 million. During the same quarter in the prior year, the firm posted $0.52 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts forecast that Trimble will post 2.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Trimble news, VP Jennifer Allison sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total value of $297,900.00. Following the completion of the transaction, the vice president now directly owns 2,315 shares in the company, valued at approximately $137,927.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Jennifer Allison sold 5,000 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total transaction of $297,900.00. Following the completion of the sale, the vice president now directly owns 2,315 shares in the company, valued at $137,927.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $218,750.00. Following the sale, the chief executive officer now owns 183,555 shares of the company’s stock, valued at $11,472,187.50. The disclosure for this sale can be found here. Insiders sold a total of 15,146 shares of company stock worth $913,634 in the last three months. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Trimble

Several large investors have recently modified their holdings of the company. Clear Street Markets LLC boosted its stake in Trimble by 93.2% during the first quarter. Clear Street Markets LLC now owns 485 shares of the scientific and technical instruments company’s stock worth $25,000 after acquiring an additional 234 shares in the last quarter. IFP Advisors Inc boosted its stake in Trimble by 798.1% during the second quarter. IFP Advisors Inc now owns 467 shares of the scientific and technical instruments company’s stock worth $25,000 after acquiring an additional 415 shares in the last quarter. Frazier Financial Advisors LLC bought a new position in Trimble during the fourth quarter worth $26,000. Itau Unibanco Holding S.A. bought a new position in Trimble during the second quarter worth $42,000. Finally, Operose Advisors LLC bought a new position in Trimble during the third quarter worth $43,000. 93.21% of the stock is currently 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.