Trimble Inc. (NASDAQ:TRMB) Receives $64.83 Average Price Target from Brokerages

Trimble Inc. (NASDAQ:TRMB - Get Free Report) has earned an average recommendation of "Moderate Buy" from the six research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $64.83.

A number of brokerages have commented on TRMB. Piper Sandler reiterated an "overweight" rating and issued a $73.00 price target on shares of Trimble in a research note on Monday. Oppenheimer increased their price target on shares of Trimble from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, March 14th. Robert W. Baird increased their price target on shares of Trimble from $59.00 to $65.00 and gave the company an "outperform" rating in a research note on Tuesday, February 13th. StockNews.com cut shares of Trimble from a "buy" rating to a "hold" rating in a research note on Saturday, February 10th. Finally, JPMorgan Chase & Co. increased their price target on shares of Trimble from $48.00 to $56.00 and gave the company a "neutral" rating in a research note on Friday, February 9th.

Insider Transactions at Trimble

In other news, CEO Robert G. Painter sold 3,500 shares of the firm's stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $62.50, for a total transaction of $218,750.00. Following the completion of the sale, the chief executive officer now owns 183,555 shares in the company, valued at approximately $11,472,187.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Robert G. Painter sold 3,500 shares of the firm's stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $62.50, for a total transaction of $218,750.00. Following the transaction, the chief executive officer now directly owns 183,555 shares of the company's stock, valued at $11,472,187.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert G. Painter sold 2,500 shares of the firm's stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total transaction of $136,875.00. Following the transaction, the chief executive officer now directly owns 239,901 shares in the company, valued at $13,134,579.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,146 shares of company stock worth $913,634. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On Trimble

A number of hedge funds have recently bought and sold shares of the business. United Capital Financial Advisers LLC increased its holdings in Trimble by 0.3% in the 1st quarter. United Capital Financial Advisers LLC now owns 69,939 shares of the scientific and technical instruments company's stock valued at $5,045,000 after buying an additional 186 shares during the period. First Horizon Advisors Inc. increased its holdings in Trimble by 18.3% in the 4th quarter. First Horizon Advisors Inc. now owns 1,269 shares of the scientific and technical instruments company's stock valued at $68,000 after buying an additional 196 shares during the period. Fulton Bank N.A. increased its holdings in Trimble by 2.6% in the 1st quarter. Fulton Bank N.A. now owns 7,725 shares of the scientific and technical instruments company's stock valued at $497,000 after buying an additional 199 shares during the period. First Eagle Investment Management LLC increased its holdings in Trimble by 6.8% in the 4th quarter. First Eagle Investment Management LLC now owns 3,145 shares of the scientific and technical instruments company's stock valued at $167,000 after buying an additional 200 shares during the period. Finally, Czech National Bank increased its holdings in Trimble by 0.5% in the 1st quarter. Czech National Bank now owns 43,771 shares of the scientific and technical instruments company's stock valued at $2,817,000 after buying an additional 201 shares during the period. 93.21% of the stock is owned by institutional investors.

Trimble Stock Down 0.8 %

Trimble stock traded down $0.49 during mid-day trading on Tuesday, reaching $58.92. The company's stock had a trading volume of 897,263 shares, compared to its average volume of 1,426,558. The company has a market capitalization of $14.48 billion, a price-to-earnings ratio of 47.14, a price-to-earnings-growth ratio of 2.71 and a beta of 1.50. Trimble has a 12 month low of $39.57 and a 12 month high of $65.55. The business's 50 day simple moving average is $61.20 and its 200 day simple moving average is $53.12. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.87 and a current ratio of 1.00.

Trimble (NASDAQ:TRMB - Get Free Report) last released its earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. The business had revenue of $932.40 million during the quarter, compared to the consensus estimate of $908.43 million. Trimble had a net margin of 8.19% and a return on equity of 12.59%. The firm's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 earnings per share. As a group, research analysts anticipate that Trimble will post 2.23 earnings per share 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.