Trimble Inc. (NASDAQ:TRMB) Receives $89.14 Average PT from Brokerages

Key Points

• Trimble Inc. has received a consensus rating of "Buy" from seven brokerages, with a 12-month average price target of $89.14.
• Insider selling activity includes a director selling 6,511 shares, a transaction reflecting a 26.63% decrease in ownership.
• Institutional investors own 93.21% of Trimble's stock, indicating strong institutional interest in the company.

Shares of Trimble Inc. (NASDAQ:TRMB - Get Free Report) have received an average rating of "Buy" from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $89.1429.

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Trimble from $88.00 to $95.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Wall Street Zen downgraded Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Piper Sandler reiterated an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a report on Thursday, May 8th. Finally, Oppenheimer lifted their price target on Trimble from $81.00 to $88.00 and gave the company an "outperform" rating in a report on Thursday, July 17th.

Insider Buying and Selling

In related news, Director Kaigham Gabriel sold 6,511 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total transaction of $466,773.59. Following the completion of the sale, the director owned 17,939 shares in the company, valued at $1,286,046.91. This represents a 26.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jennifer Allison sold 3,156 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $252,480.00. Following the completion of the transaction, the vice president directly owned 2,882 shares of the company's stock, valued at approximately $230,560. This trade represents a 52.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,047 shares of company stock worth $1,538,152. Insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On Trimble

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nuveen LLC bought a new position in Trimble in the first quarter valued at $122,070,000. Select Equity Group L.P. increased its position in Trimble by 22.4% during the fourth quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company's stock worth $717,506,000 after acquiring an additional 1,857,517 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Trimble by 26.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,978,106 shares of the scientific and technical instruments company's stock worth $458,113,000 after buying an additional 1,445,851 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Trimble by 338.8% in the first quarter. Assenagon Asset Management S.A. now owns 815,909 shares of the scientific and technical instruments company's stock valued at $53,564,000 after buying an additional 629,960 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Trimble by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company's stock worth $1,988,450,000 after acquiring an additional 582,124 shares during the last quarter. Institutional investors own 93.21% of the company's stock.

Trimble Stock Performance

TRMB traded down $1.55 during trading on Monday, hitting $82.70. The stock had a trading volume of 2,126,982 shares, compared to its average volume of 1,831,050. The firm has a market capitalization of $19.73 billion, a P/E ratio of 13.49, a PEG ratio of 3.59 and a beta of 1.69. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.84. Trimble has a twelve month low of $49.84 and a twelve month high of $86.42. The company's 50-day moving average price is $76.99 and its 200 day moving average price is $71.28.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. Trimble had a return on equity of 9.87% and a net margin of 42.40%. The firm had revenue of $840.60 million for the quarter, compared to the consensus estimate of $810.45 million. During the same period in the previous year, the business earned $0.64 earnings per share. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. On average, equities research analysts forecast that Trimble will post 2.37 EPS for the current fiscal 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.