Trimble Inc. (NASDAQ:TRMB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Trimble Inc. (NASDAQ:TRMB) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $64.83.

Several analysts have commented on the company. StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Robert W. Baird boosted 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. Oppenheimer boosted their target price on Trimble from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. Piper Sandler reiterated an “overweight” rating and set a $73.00 target price on shares of Trimble in a report on Monday. Finally, JPMorgan Chase & Co. boosted their target price on Trimble from $48.00 to $56.00 and gave the stock a “neutral” rating in a report on Friday, February 9th.

Insider Activity at Trimble

In related news, CEO Robert G. Painter sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total transaction of $136,875.00. Following the completion of the transaction, the chief executive officer now directly owns 239,901 shares in the company, valued at approximately $13,134,579.75. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, VP Jennifer Allison sold 5,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was 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 owns 2,315 shares of the company’s stock, valued at $137,927.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert G. Painter sold 2,500 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 239,901 shares of the company’s stock, valued at approximately $13,134,579.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,146 shares of company stock valued at $913,634. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TRMB. Generation Investment Management LLP grew its stake in shares of Trimble by 89.5% in the fourth 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 purchasing an additional 5,796,030 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of Trimble by 86,928.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,426,266 shares of the scientific and technical instruments company’s stock valued at $223,792,000 after purchasing an additional 4,421,180 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Trimble by 283.9% during the fourth quarter. Morgan Stanley now owns 5,530,548 shares of the scientific and technical instruments company’s stock valued at $279,625,000 after purchasing an additional 4,089,901 shares during the last quarter. Norges Bank purchased a new stake in shares of Trimble during the fourth quarter valued at $162,931,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Trimble by 131.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,550,902 shares of the scientific and technical instruments company’s stock valued at $290,979,000 after purchasing an additional 3,155,709 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.

Trimble Trading Down 1.9 %

NASDAQ:TRMB opened at $59.41 on Tuesday. The company has a market capitalization 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. 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 has a 52-week low of $39.57 and a 52-week high of $65.55. The stock has a fifty day simple moving average of $61.05 and a 200-day simple moving average of $53.09.

Trimble (NASDAQ:TRMB) last announced its earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. The firm had revenue of $932.40 million during the quarter, compared to the consensus estimate of $908.43 million. Trimble had a net margin of 8.19% and a return on equity of 12.59%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 EPS. On average, equities research analysts expect that Trimble will post 2.23 earnings per share 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.