Trimble (NASDAQ:TRMB) Given Overweight Rating at Piper Sandler

Trimble (NASDAQ:TRMB)‘s stock had its “overweight” rating reaffirmed by equities researchers at Piper Sandler in a research report issued on Monday, Benzinga reports. They presently have a $73.00 target price on the scientific and technical instruments company’s stock. Piper Sandler’s price target would indicate a potential upside of 28.07% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. Oppenheimer reissued an “outperform” rating and set a $72.00 price objective on shares of Trimble in a report on Monday. Robert W. Baird lifted their price target on shares of Trimble from $59.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. JPMorgan Chase & Co. boosted their price objective on shares of Trimble from $57.00 to $67.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, StockNews.com lowered shares of Trimble from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $66.67.

Trimble Stock Up 1.4 %

TRMB stock opened at $57.00 on Monday. The company’s 50 day moving average is $61.34 and its 200 day moving average is $53.92. The stock has a market cap of $13.92 billion, a price-to-earnings ratio of 59.38, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. The company has a current ratio of 1.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.57. Trimble has a 1-year low of $39.57 and a 1-year high of $65.55.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. Trimble had a net margin of 6.25% and a return on equity of 12.04%. The firm had revenue of $932.40 million for the quarter, compared to analyst estimates of $908.43 million. During the same quarter in the prior year, the firm earned $0.52 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Sell-side analysts predict that Trimble will post 2.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other 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 transaction, the chief executive officer now directly owns 239,901 shares of the company’s stock, valued at $13,134,579.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Jennifer Allison sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total transaction 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. Also, CEO Robert G. Painter sold 2,500 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 239,901 shares of the company’s stock, valued at $13,134,579.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,828 shares of company stock valued at $1,013,519. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Trimble

A number of hedge funds have recently made changes to their positions in TRMB. Vanguard Group Inc. increased its stake in Trimble by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 29,213,613 shares of the scientific and technical instruments company’s stock worth $1,554,164,000 after acquiring an additional 273,863 shares during the last quarter. Generation Investment Management LLP lifted its position in Trimble by 89.5% during the fourth quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company’s stock valued at $652,787,000 after purchasing an additional 5,796,030 shares during the last quarter. Morgan Stanley increased its holdings in shares of Trimble by 10.0% in the 3rd quarter. Morgan Stanley now owns 7,654,744 shares of the scientific and technical instruments company’s stock worth $412,285,000 after buying an additional 694,842 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Trimble by 2.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,315,941 shares of the scientific and technical instruments company’s stock valued at $342,134,000 after acquiring an additional 126,472 shares during the last quarter. Finally, Primecap Management Co. CA increased its stake in Trimble by 3.9% during the fourth quarter. Primecap Management Co. CA now owns 5,025,141 shares of the scientific and technical instruments company’s stock worth $267,338,000 after acquiring an additional 188,790 shares during the last quarter. 93.21% of the stock is currently 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.