Trimble (NASDAQ:TRMB) Upgraded to "Strong-Buy" at Loop Capital

Key Points

• Loop Capital upgraded Trimble to “strong buy,” while analysts overall maintain a “moderate buy” consensus with an average price target of $79.56.
• Trimble reported quarterly adjusted earnings of $0.86 per share, beating estimates by $0.06, while revenue reached $972 million—up 11% year over year and above expectations.
• Trimble shares opened at $63.16, compared with a 52-week range of $47.92 to $84.42; institutional investors own approximately 93.21% of the company’s stock.

Trimble (NASDAQ:TRMB - Get Free Report) was upgraded by Loop Capital to a "strong-buy" rating in a research note issued to investors on Monday, Zacks reports.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. cut their price target on shares of Trimble from $76.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, October 8th. Piper Sandler reaffirmed an "overweight" rating and issued a $87.00 price objective on shares of Trimble in a report on Thursday, August 13th. Barclays upped their price objective on shares of Trimble from $79.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, August 19th. Wells Fargo & Company cut their price objective on shares of Trimble from $70.00 to $61.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 14th. Finally, Oppenheimer reissued an "outperform" rating and set a $80.00 target price on shares of Trimble in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Trimble presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.56.

Trimble Price Performance

Shares of TRMB stock opened at $63.16 on Monday. The business has a fifty day moving average of $59.46 and a 200 day moving average of $61.17. Trimble has a 1 year low of $47.92 and a 1 year high of $84.42. The firm has a market capitalization of $14.73 billion, a price-to-earnings ratio of -128.90 and a beta of 1.34.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The scientific and technical instruments company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. The firm had revenue of $972.00 million for the quarter, compared to analysts' expectations of $952.09 million. The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 EPS. Trimble has set its Q3 2026 guidance at 0.830-0.880 EPS and its FY 2026 guidance at 3.600-3.700 EPS. As a group, equities research analysts expect that Trimble will post 3.10 earnings per share for the current year.

Insider Activity at Trimble

In related news, Director Kaigham Gabriel sold 1,718 shares of the business's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $60.00, for a total value of $103,080.00. Following the completion of the transaction, the director directly owned 17,426 shares in the company, valued at $1,045,560. The trade was a 8.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.59% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its stake in Trimble by 29.4% during the second quarter. Assenagon Asset Management S.A. now owns 347,691 shares of the scientific and technical instruments company's stock worth $17,795,000 after purchasing an additional 79,069 shares during the period. State Street Corp boosted its stake in shares of Trimble by 7.9% during the second quarter. State Street Corp now owns 11,644,706 shares of the scientific and technical instruments company's stock valued at $595,976,000 after acquiring an additional 849,549 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of Trimble by 52.7% during the third quarter. Pinnacle Associates Ltd. now owns 381,026 shares of the scientific and technical instruments company's stock worth $21,760,000 after buying an additional 131,528 shares in the last quarter. Tidal Investments LLC raised its holdings in Trimble by 85.0% in the 2nd quarter. Tidal Investments LLC now owns 64,567 shares of the scientific and technical instruments company's stock valued at $3,305,000 after acquiring an additional 29,657 shares during the last quarter. Finally, BlackRock Inc. purchased a new position in Trimble during the second quarter worth about $1,096,304,000. Hedge funds and other institutional investors own 93.21% of the company's stock.

About Trimble

Trimble Inc develops technology solutions that connect the physical and digital worlds across construction, geospatial, transportation, agriculture, natural resources and other industrial markets. Its portfolio combines positioning technologies, field and office software, data services, connected devices and autonomous or machine-control systems to help customers plan, measure, build, manage and maintain physical assets.

The company's products and services include surveying and mapping equipment, global navigation satellite system and positioning technologies, construction modeling and project-management software, machine-control systems, fleet and transportation-management solutions, and agricultural guidance and precision-farming tools.

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