Trimble (NASDAQ:TRMB) Stock Rating Reaffirmed by Oppenheimer

Trimble (NASDAQ:TRMB)‘s stock had its “outperform” rating reiterated by investment analysts at Oppenheimer in a research note issued on Monday, Benzinga reports. They currently have a $72.00 price target on the scientific and technical instruments company’s stock. Oppenheimer’s price target suggests a potential upside of 26.32% from the stock’s current price.

Several other analysts have also issued reports on TRMB. Piper Sandler restated an “overweight” rating and set a $73.00 target price on shares of Trimble in a research report on Monday, April 15th. Robert W. Baird boosted their target price on shares of Trimble from $59.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, February 13th. JPMorgan Chase & Co. raised their target price on shares of Trimble from $57.00 to $67.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Finally, StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Trimble currently has a consensus rating of “Moderate Buy” and an average target price of $66.67.

Trimble Stock Up 1.4 %

Trimble stock opened at $57.00 on Monday. 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 12 month low of $39.57 and a 12 month high of $65.55. The firm has a market cap of $13.92 billion, a price-to-earnings ratio of 59.38, a PEG ratio of 2.51 and a beta of 1.51. The stock has a fifty day simple moving average of $61.34 and a two-hundred day simple moving average of $53.92.

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

Insider Transactions at Trimble

In related news, CEO Robert G. Painter sold 2,500 shares of the firm’s 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 sale, the chief executive officer now directly owns 239,901 shares in the company, valued at $13,134,579.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Peter Large sold 1,447 shares of Trimble stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total transaction of $85,517.70. Following the completion of the sale, the senior vice president now owns 8,220 shares in the company, valued at approximately $485,802. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert G. Painter sold 2,500 shares of Trimble 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 sale, 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 90 days, insiders sold 16,828 shares of company stock worth $1,013,519. 0.47% of the stock is currently owned by company insiders.

Institutional Trading of Trimble

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Trimble by 0.9% in the fourth 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 purchasing an additional 273,863 shares during the last quarter. Generation Investment Management LLP raised its stake in 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 valued at $652,787,000 after buying an additional 5,796,030 shares during the last quarter. Morgan Stanley boosted its holdings in Trimble by 10.0% in the third quarter. Morgan Stanley now owns 7,654,744 shares of the scientific and technical instruments company’s stock worth $412,285,000 after acquiring an additional 694,842 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Trimble by 2.4% during the first 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 in the last quarter. Finally, Primecap Management Co. CA grew its holdings in shares of 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 valued at $267,338,000 after buying an additional 188,790 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.

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.