Trimble (NASDAQ:TRMB) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Trimble (NASDAQ:TRMB) had its price target increased by JPMorgan Chase & Co. from $96.00 to $98.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the scientific and technical instruments company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 18.39% from the stock’s previous close.

A number of other equities research analysts have also recently commented on TRMB. Wall Street Zen raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Oppenheimer raised their price objective on shares of Trimble from $88.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $93.00 price objective (up previously from $85.00) on shares of Trimble in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $90.75.

Trimble Price Performance

Shares of NASDAQ TRMB opened at $82.78 on Friday. The stock has a market capitalization of $19.70 billion, a price-to-earnings ratio of 71.36, a PEG ratio of 3.40 and a beta of 1.66. Trimble has a 12 month low of $52.91 and a 12 month high of $87.50. The firm’s 50 day simple moving average is $82.03 and its 200-day simple moving average is $73.13. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. The business had revenue of $875.70 million for the quarter, compared to analysts’ expectations of $835.81 million. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $0.62 EPS. Analysts expect that Trimble will post 2.37 EPS for the current year.

Insider Transactions at Trimble

In other news, Director James Calvin Dalton sold 609 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $82.41, for a total transaction of $50,187.69. Following the completion of the transaction, the director directly owned 13,809 shares of the company’s stock, valued at approximately $1,137,999.69. The trade was a 4.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jennifer Allison sold 3,156 shares of the business’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $80.00, for a total value of $252,480.00. Following the transaction, the vice president directly owned 2,882 shares of the company’s stock, valued at approximately $230,560. This represents a 52.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 222,992 shares of company stock valued at $18,579,506. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Trimble

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRMB. Brighton Jones LLC acquired a new position in Trimble in the fourth quarter valued at approximately $211,000. Cetera Investment Advisers lifted its stake in Trimble by 8.5% in the fourth quarter. Cetera Investment Advisers now owns 14,290 shares of the scientific and technical instruments company’s stock valued at $1,010,000 after buying an additional 1,119 shares during the last quarter. Royal Bank of Canada lifted its stake in Trimble by 67.3% in the fourth quarter. Royal Bank of Canada now owns 344,735 shares of the scientific and technical instruments company’s stock valued at $24,358,000 after buying an additional 138,689 shares during the last quarter. Twinbeech Capital LP purchased a new stake in Trimble in the fourth quarter valued at approximately $222,000. Finally, Vident Advisory LLC purchased a new stake in Trimble in the fourth quarter valued at approximately $271,000. 93.21% of the stock is owned by institutional investors and hedge funds.

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.