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

Trimble Inc. (NASDAQ:TRMB) has been given a consensus recommendation of “Buy” by the seven brokerages that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $89.14.

A number of research firms have recently weighed in on TRMB. Piper Sandler reaffirmed an “overweight” rating and set a $84.00 price target on shares of Trimble in a research note on Thursday, May 8th. Oppenheimer upped their target price on shares of Trimble from $81.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. upped their target price on shares of Trimble from $88.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Finally, Wall Street Zen cut Trimble from a “buy” rating to a “hold” rating in a report on Thursday, May 8th.

Insiders Place Their Bets

In related news, Director Kaigham Gabriel sold 6,511 shares of Trimble stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total value of $466,773.59. Following the transaction, the director owned 17,939 shares in the company, valued at approximately $1,286,046.91. This trade represents a 26.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark David Schwartz sold 1,404 shares of Trimble stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $112,320.00. Following the completion of the transaction, the vice president directly owned 21,001 shares in the company, valued at $1,680,080. This represents a 6.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,047 shares of company stock worth $1,538,152 over the last ninety days. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TRMB. Brighton Jones LLC acquired a new position in Trimble during the 4th quarter worth approximately $211,000. American Century Companies Inc. raised its position in shares of Trimble by 18.1% in the 4th quarter. American Century Companies Inc. now owns 15,421 shares of the scientific and technical instruments company’s stock valued at $1,090,000 after purchasing an additional 2,360 shares in the last quarter. LPL Financial LLC raised its position in shares of Trimble by 95.2% in the 4th quarter. LPL Financial LLC now owns 44,839 shares of the scientific and technical instruments company’s stock valued at $3,168,000 after purchasing an additional 21,871 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Trimble by 17.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,595 shares of the scientific and technical instruments company’s stock valued at $395,000 after purchasing an additional 841 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in 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 buying an additional 5,472 shares during the period. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Trading Down 1.5%

NASDAQ:TRMB opened at $82.64 on Monday. The firm has a market cap of $19.72 billion, a P/E ratio of 13.48, a PEG ratio of 3.52 and a beta of 1.69. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.26. The stock’s 50 day simple moving average is $76.71 and its 200-day simple moving average is $71.21. Trimble has a 12-month low of $48.65 and a 12-month high of $86.42.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Trimble had a net margin of 42.40% and a return on equity of 9.87%. The business had revenue of $840.60 million for the quarter, compared to analyst estimates of $810.45 million. During the same period in the previous year, the business posted $0.64 earnings per share. The business’s revenue was down 11.8% compared to the same quarter last year. Equities analysts anticipate that Trimble will post 2.37 EPS for the current 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.