Brokerages Set Trimble Inc. (NASDAQ:TRMB) PT at $90.50

Key Points

• Analysts have given Trimble Inc. (NASDAQ: TRMB) an average rating of "Buy", with seven out of eight analysts recommending a buy and one suggesting a strong buy, along with an average 12-month target price of $90.50.
• In its recent earnings report, Trimble surpassed consensus estimates by posting $0.71 earnings per share, alongside revenue of $875.70 million, exceeding analyst projections.
• Insider transactions have seen CEO Robert G. Painter selling over 115,000 shares for approximately $9.59 million, resulting in a significant decrease in his ownership stake.

Shares of Trimble Inc. (NASDAQ:TRMB - Get Free Report) have received an average rating of "Buy" from the eight brokerages that are presently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $90.50.

A number of research analysts recently issued reports on the company. Raymond James Financial reiterated an "outperform" rating and issued a $93.00 target price (up from $85.00) on shares of Trimble in a report on Thursday, August 7th. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. boosted their price objective on Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Oppenheimer boosted their price objective on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a research note on Thursday, May 8th.

Trimble Trading Down 1.7%

Trimble stock traded down $1.39 during midday trading on Friday, reaching $80.82. 1,210,105 shares of the stock traded hands, compared to its average volume of 1,806,406. The firm has a market cap of $19.23 billion, a PE ratio of 69.67, a price-to-earnings-growth ratio of 3.32 and a beta of 1.69. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. The company has a 50-day simple moving average of $80.99 and a two-hundred day simple moving average of $72.24. Trimble has a 12-month low of $52.91 and a 12-month high of $87.50.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.08. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The company had revenue of $875.70 million for the quarter, compared to analyst estimates of $835.81 million. During the same period in the prior year, the firm earned $0.62 earnings per share. The business's revenue for the quarter was up .6% compared to the same quarter last year. Research analysts expect that Trimble will post 2.37 earnings per share for the current fiscal year.

Insider Transactions at Trimble

In related news, VP Mark David Schwartz sold 1,404 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $112,320.00. Following the completion of the sale, the vice president owned 21,001 shares in the company, valued at $1,680,080. This trade represents a 6.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert G. Painter sold 115,781 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $82.83, for a total value of $9,590,140.23. Following the transaction, the chief executive officer directly owned 114,879 shares of the company's stock, valued at approximately $9,515,427.57. This trade represents a 50.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 222,383 shares of company stock worth $18,529,318 over the last 90 days. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trimble

Several hedge funds have recently bought and sold shares of the stock. OneDigital Investment Advisors LLC lifted its holdings in Trimble by 30.1% in the 1st quarter. OneDigital Investment Advisors LLC now owns 4,077 shares of the scientific and technical instruments company's stock valued at $268,000 after purchasing an additional 943 shares in the last quarter. DAVENPORT & Co LLC grew its holdings in shares of Trimble by 6.0% during the first quarter. DAVENPORT & Co LLC now owns 7,956 shares of the scientific and technical instruments company's stock worth $522,000 after buying an additional 452 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Trimble by 7.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,876 shares of the scientific and technical instruments company's stock valued at $2,355,000 after buying an additional 2,397 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Trimble by 10.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 42,719 shares of the scientific and technical instruments company's stock valued at $2,793,000 after buying an additional 4,185 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Trimble by 25.1% during the first quarter. GAMMA Investing LLC now owns 5,275 shares of the scientific and technical instruments company's stock valued at $346,000 after buying an additional 1,059 shares during the period. Hedge funds and other 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.