Trimble (NASDAQ:TRMB) Trading Down 6.2%

Trimble Inc. (NASDAQ:TRMB - Get Free Report)'s stock price was down 6.2% during trading on Friday . The company traded as low as $56.05 and last traded at $56.39. Approximately 433,607 shares changed hands during trading, a decline of 68% from the average daily volume of 1,361,404 shares. The stock had previously closed at $60.09.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Trimble from $57.00 to $67.00 and gave the stock a "neutral" rating in a report on Wednesday. StockNews.com cut shares of Trimble from a "buy" rating to a "hold" rating in a research note on Saturday, February 10th. Piper Sandler reissued an "overweight" rating and set a $73.00 price target on shares of Trimble in a research note on Monday, April 15th. Oppenheimer upped their target price on Trimble from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, March 14th. Finally, Robert W. Baird increased their target price on Trimble from $59.00 to $65.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 13th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $66.67.

Trimble Stock Performance

The stock has a 50-day simple moving average of $61.66 and a 200-day simple moving average of $53.74. The stock has a market cap of $13.66 billion, a PE ratio of 44.74, a P/E/G ratio of 2.63 and a beta of 1.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.00 and a quick ratio of 0.87.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its quarterly 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 firm had revenue of $932.40 million for the quarter, compared to analysts' expectations of $908.43 million. Trimble had a net margin of 8.19% and a return on equity of 12.59%. Trimble's revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 earnings per share. Equities analysts predict that Trimble Inc. will post 2.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Robert G. Painter sold 2,500 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total value of $136,875.00. Following the completion of the sale, the chief executive officer now owns 239,901 shares in the company, valued at $13,134,579.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Robert G. Painter sold 2,500 shares of Trimble stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total transaction of $136,875.00. Following the sale, the chief executive officer now owns 239,901 shares of the company's stock, valued at approximately $13,134,579.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Peter Large sold 1,447 shares of the company's stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total transaction of $85,517.70. Following the completion of the transaction, the senior vice president now directly owns 8,220 shares of the company's stock, valued at $485,802. The disclosure for this sale can be found here. Insiders have sold a total of 16,828 shares of company stock worth $1,013,519 over the last quarter. 0.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Trimble

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Trimble by 30.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 63,814 shares of the scientific and technical instruments company's stock valued at $3,437,000 after acquiring an additional 14,729 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Trimble by 37.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 40,782 shares of the scientific and technical instruments company's stock worth $2,197,000 after purchasing an additional 11,112 shares during the period. Xponance Inc. lifted its position in shares of Trimble by 3.9% in the 3rd quarter. Xponance Inc. now owns 35,844 shares of the scientific and technical instruments company's stock worth $1,931,000 after buying an additional 1,348 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Trimble by 3.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 16,463 shares of the scientific and technical instruments company's stock valued at $887,000 after buying an additional 550 shares during the period. Finally, Forsta AP Fonden bought a new stake in shares of Trimble during the 3rd quarter valued at about $2,795,000. Institutional investors own 93.21% of the company's stock.

About Trimble

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.