Trimble Inc. (NASDAQ:TRMB) Receives $88.43 Consensus Target Price from Brokerages

Shares of Trimble Inc. (NASDAQ:TRMB - Get Free Report) have received a consensus recommendation of "Buy" from the seven brokerages that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $88.43.

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

Insider Buying and Selling

In other Trimble news, VP Christopher F. Keating sold 5,709 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total value of $411,048.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kaigham Gabriel sold 6,511 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total value of $466,773.59. Following the sale, the director now directly owns 17,939 shares of the company's stock, valued at $1,286,046.91. This trade represents a 26.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trimble

Hedge funds have recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. bought a new stake in Trimble in the fourth quarter worth approximately $28,000. Rialto Wealth Management LLC acquired a new stake in shares of Trimble in the 4th quarter valued at $35,000. SBI Securities Co. Ltd. bought a new stake in Trimble in the fourth quarter worth $36,000. Central Pacific Bank Trust Division increased its position in 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 worth $37,000 after buying an additional 355 shares during the last quarter. Finally, Flaharty Asset Management LLC bought a new position in Trimble during the first quarter valued at about $45,000. Institutional investors and hedge funds own 93.21% of the company's stock.

Trimble Stock Performance

Shares of TRMB traded down $0.24 during trading hours on Wednesday, reaching $70.55. 929,216 shares of the company's stock traded hands, compared to its average volume of 1,394,463. Trimble has a twelve month low of $48.65 and a twelve month high of $77.78. The business's fifty day simple moving average is $64.43 and its two-hundred day simple moving average is $69.62. 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 firm has a market capitalization of $16.83 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 3.09 and a beta of 1.67.

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