Trimble Inc. (NASDAQ:TRMB) Given Average Rating of "Buy" by Brokerages

Shares of Trimble Inc. (NASDAQ:TRMB - Get Free Report) have been given a consensus recommendation of "Buy" by the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $88.43.

TRMB has been the topic of several analyst reports. Oppenheimer increased their price objective on Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 price target on shares of Trimble in a research report on Thursday, May 8th. JPMorgan Chase & Co. boosted their price objective on Trimble from $84.00 to $88.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Wall Street Zen lowered shares of Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Cfra upgraded shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price target for the company in a research note on Thursday, February 20th.

Trimble Trading Down 1.8%

NASDAQ TRMB opened at $71.08 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07. The stock has a market capitalization of $16.96 billion, a P/E ratio of 11.67, a PEG ratio of 3.09 and a beta of 1.68. The firm's 50-day moving average is $66.30 and its two-hundred day moving average is $69.65. Trimble has a 12 month low of $48.65 and a 12 month high of $77.78.

Trimble (NASDAQ:TRMB - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. The business had revenue of $840.60 million for the quarter, compared to the consensus estimate of $810.45 million. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The business's revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. On average, sell-side analysts anticipate that Trimble will post 2.37 earnings per share for the current year.

Insider Activity 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 transaction of $466,773.59. Following the completion of the sale, the director now directly 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 Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Brighton Jones LLC purchased a new position in shares of Trimble in the fourth quarter valued at $211,000. Apollon Wealth Management LLC increased its holdings in Trimble by 5.5% during the 4th quarter. Apollon Wealth Management LLC now owns 3,577 shares of the scientific and technical instruments company's stock valued at $253,000 after acquiring an additional 188 shares in the last quarter. Empowered Funds LLC raised its position in Trimble by 10.6% during the fourth quarter. Empowered Funds LLC now owns 6,416 shares of the scientific and technical instruments company's stock worth $453,000 after acquiring an additional 614 shares during the last quarter. Savant Capital LLC lifted its holdings in shares of Trimble by 2.2% in the fourth quarter. Savant Capital LLC now owns 11,471 shares of the scientific and technical instruments company's stock valued at $811,000 after purchasing an additional 247 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Trimble by 34.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 38,534 shares of the scientific and technical instruments company's stock valued at $2,686,000 after purchasing an additional 9,813 shares during the last quarter. 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.

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