Trimble Inc. (NASDAQ:TRMB) Receives Average Recommendation of "Buy" from Analysts

Trimble Inc. (NASDAQ:TRMB - Get Free Report) has been assigned an average rating of "Buy" from the seven analysts that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $88.43.

A number of analysts have weighed in on the company. Oppenheimer boosted their price target on Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Wall Street Zen cut Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Cfra raised Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price objective for the company in a research report on Thursday, February 20th. JPMorgan Chase & Co. raised their target price on Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Finally, Piper Sandler reiterated an "overweight" rating and set a $84.00 price target on shares of Trimble in a report on Thursday, May 8th.

Insider Transactions at Trimble

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total value of $466,773.59. Following the completion of the transaction, the director now owns 17,939 shares of the company's stock, valued at $1,286,046.91. This represents a 26.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On Trimble

Several large investors have recently added to or reduced their stakes in TRMB. Crowley Wealth Management Inc. acquired a new position in Trimble in the 4th quarter valued at approximately $28,000. Rialto Wealth Management LLC bought a new stake in shares of Trimble in the 4th quarter valued at approximately $35,000. SBI Securities Co. Ltd. bought a new stake in shares of Trimble in the 4th quarter valued at approximately $36,000. Central Pacific Bank Trust Division grew its stake in shares of Trimble by 174.9% in the 1st quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock valued at $37,000 after purchasing an additional 355 shares during the period. Finally, Flaharty Asset Management LLC bought a new stake in shares of Trimble in the 1st quarter valued at approximately $45,000. Institutional investors and hedge funds own 93.21% of the company's stock.

Trimble Stock Down 0.1%

NASDAQ TRMB traded down $0.06 on Friday, reaching $71.70. The stock had a trading volume of 1,129,237 shares, compared to its average volume of 1,375,854. The business has a 50 day moving average price of $67.06 and a 200 day moving average price of $69.66. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.26. Trimble has a 1 year low of $48.65 and a 1 year high of $77.78. The company has a market capitalization of $17.11 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 3.06 and a beta of 1.68.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, topping 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 company had revenue of $840.60 million during the quarter, compared to analysts' expectations of $810.45 million. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The business's quarterly revenue was down 11.8% compared to the same quarter last year. On average, analysts forecast that Trimble will post 2.37 EPS for the current fiscal year.

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.