Trimble (NASDAQ:TRMB) Given "Overweight" Rating at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Trimble (NASDAQ:TRMB - Free Report) in a research note issued to investors on Monday, Benzinga reports. The firm currently has a $73.00 price objective on the scientific and technical instruments company's stock.

A number of other equities analysts have also recently issued reports on the company. Oppenheimer increased their price target on Trimble from $65.00 to $72.00 and gave the stock an outperform rating in a report on Thursday, March 14th. StockNews.com cut Trimble from a buy rating to a hold rating in a report on Saturday, February 10th. JPMorgan Chase & Co. increased their price target on Trimble from $48.00 to $56.00 and gave the stock a neutral rating in a report on Friday, February 9th. Finally, Robert W. Baird increased their price target on Trimble from $59.00 to $65.00 and gave the stock an outperform rating in a report on Tuesday, February 13th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $64.83.

Trimble Trading Down 1.9 %

TRMB stock traded down $1.13 during trading on Monday, hitting $59.41. The company had a trading volume of 1,018,415 shares, compared to its average volume of 1,433,910. The business has a 50-day moving average of $60.90 and a 200-day moving average of $53.04. Trimble has a one year low of $39.57 and a one year high of $65.55. The stock has a market cap of $14.60 billion, a PE ratio of 48.46, a PEG ratio of 2.71 and a beta of 1.50. The company has a current ratio of 1.00, a quick ratio of 0.87 and a debt-to-equity ratio of 0.56.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. Trimble had a return on equity of 12.59% and a net margin of 8.19%. The business had revenue of $932.40 million for the quarter, compared to analysts' expectations of $908.43 million. During the same period in the prior year, the business posted $0.52 earnings per share. The firm's revenue was up 8.9% on a year-over-year basis. Research analysts predict that Trimble will post 2.23 earnings per share for the current fiscal year.

Insider Transactions at Trimble

In other news, CEO Robert G. Painter sold 2,500 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at $13,134,579.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Jennifer Allison sold 5,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total value of $297,900.00. Following the completion of the sale, the vice president now directly owns 2,315 shares of the company's stock, valued at approximately $137,927.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert G. Painter sold 2,500 shares of the stock in a transaction on Tuesday, February 13th. The shares were 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 directly owns 239,901 shares of the company's stock, valued at $13,134,579.75. The disclosure for this sale can be found here. Insiders have sold 15,146 shares of company stock valued at $913,634 over the last ninety days. 0.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trimble

A number of institutional investors and hedge funds have recently bought and sold shares of TRMB. Generation Investment Management LLP raised its position in Trimble by 89.5% in the 4th quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company's stock valued at $652,787,000 after buying an additional 5,796,030 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in Trimble by 86,928.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,426,266 shares of the scientific and technical instruments company's stock valued at $223,792,000 after buying an additional 4,421,180 shares during the last quarter. Morgan Stanley raised its position in Trimble by 283.9% in the 4th quarter. Morgan Stanley now owns 5,530,548 shares of the scientific and technical instruments company's stock valued at $279,625,000 after buying an additional 4,089,901 shares during the last quarter. Norges Bank purchased a new stake in shares of Trimble during the 4th quarter valued at $162,931,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Trimble by 131.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,550,902 shares of the scientific and technical instruments company's stock valued at $290,979,000 after purchasing an additional 3,155,709 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

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.