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

Trimble logo with Industrials background

Shares of Trimble Inc. (NASDAQ:TRMB - Get Free Report) have received an average rating of "Buy" from the seven analysts that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $89.43.

Several research firms have recently commented on TRMB. JPMorgan Chase & Co. boosted their price target on shares of Trimble from $88.00 to $95.00 and gave the company an "overweight" rating in a report on Thursday. Wall Street Zen lowered Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $84.00 price target on shares of Trimble in a research note on Thursday, May 8th.

Read Our Latest Analysis on TRMB

Trimble Trading Up 1.5%

Trimble stock traded up $1.21 during midday trading on Thursday, reaching $80.83. The stock had a trading volume of 1,546,863 shares, compared to its average volume of 1,401,352. The firm has a market cap of $19.29 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 3.38 and a beta of 1.67. The firm's fifty day simple moving average is $72.01 and its two-hundred day simple moving average is $69.91. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.72. Trimble has a twelve month low of $48.65 and a twelve month high of $81.63.

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

Insiders Place Their Bets

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total transaction of $466,773.59. Following the completion of the transaction, the director owned 17,939 shares of the company's stock, valued at $1,286,046.91. The trade was 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. Also, VP Mark David Schwartz sold 1,476 shares of Trimble stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $78.00, for a total value of $115,128.00. Following the completion of the transaction, the vice president owned 22,405 shares in the company, valued at $1,747,590. The trade was a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

Institutional Investors Weigh In On Trimble

Several hedge funds have recently modified their holdings of TRMB. Crowley Wealth Management Inc. acquired a new position in Trimble during the 4th quarter valued at $28,000. SBI Securities Co. Ltd. acquired a new stake in Trimble in the 4th quarter worth $36,000. Central Pacific Bank Trust Division raised its position in shares of Trimble by 174.9% during the first quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock valued at $37,000 after buying an additional 355 shares during the last quarter. Flaharty Asset Management LLC bought a new stake in shares of Trimble in the first quarter valued at about $45,000. Finally, Larson Financial Group LLC lifted its stake in shares of Trimble by 164.8% in the fourth quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company's stock valued at $48,000 after buying an additional 422 shares during the period. 93.21% of the stock is owned by institutional investors.

About Trimble

(Get Free Report

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.

Further Reading

Analyst Recommendations for Trimble (NASDAQ:TRMB)

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