Trimble Inc. (NASDAQ:TRMB) Given Consensus Rating of “Buy” by Analysts

Shares of Trimble Inc. (NASDAQ:TRMB) have been assigned an average recommendation of “Buy” from the seven ratings firms that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $88.43.

A number of analysts recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and issued a $84.00 price objective on shares of Trimble in a research report on Thursday, May 8th. Oppenheimer raised their target price on shares of Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. StockNews.com downgraded shares of Trimble from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. boosted their target price on shares of Trimble from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 14th. Finally, Cfra upgraded shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a research report on Thursday, February 20th.

Insiders Place Their Bets

In other news, VP Christopher F. Keating sold 5,709 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total transaction of $411,048.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James Calvin Dalton sold 2,141 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $71.79, for a total transaction of $153,702.39. Following the sale, the director now directly owns 10,162 shares of the company’s stock, valued at approximately $729,529.98. This represents a 17.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. KBC Group NV boosted its stake in Trimble by 81.9% during the 4th quarter. KBC Group NV now owns 159,622 shares of the scientific and technical instruments company’s stock valued at $11,279,000 after purchasing an additional 71,891 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Trimble by 5.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 376,368 shares of the scientific and technical instruments company’s stock worth $26,560,000 after buying an additional 17,785 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Trimble by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 22,360 shares of the scientific and technical instruments company’s stock worth $1,580,000 after acquiring an additional 5,472 shares during the last quarter. Simon Quick Advisors LLC increased its position in Trimble by 34.1% during the fourth quarter. Simon Quick Advisors LLC now owns 13,634 shares of the scientific and technical instruments company’s stock worth $963,000 after acquiring an additional 3,465 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Trimble by 3,560.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 16,765 shares of the scientific and technical instruments company’s stock valued at $1,185,000 after purchasing an additional 16,307 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.

Trimble Trading Up 0.9%

Shares of Trimble stock opened at $72.31 on Wednesday. The company’s 50-day moving average price is $64.41 and its 200-day moving average price is $69.54. Trimble has a 12-month low of $48.65 and a 12-month high of $77.78. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The company has a market cap of $17.25 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 3.09 and a beta of 1.67.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $840.60 million during the quarter, compared to analyst estimates of $810.45 million. Trimble had a return on equity of 10.56% and a net margin of 40.84%. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the company earned $0.64 EPS. On average, equities analysts expect that Trimble will post 2.37 earnings per share for the current fiscal year.

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.