Trimble (NASDAQ:TRMB) Earns Overweight Rating from Piper Sandler

Trimble (NASDAQ:TRMB - Get Free Report)'s stock had its "overweight" rating reiterated by equities research analysts at Piper Sandler in a report released on Thursday,Benzinga reports. They currently have a $84.00 price objective on the scientific and technical instruments company's stock. Piper Sandler's target price would suggest a potential upside of 26.65% from the stock's previous close.

Several other equities research analysts have also commented on the company. StockNews.com lowered Trimble from a "strong-buy" rating to a "buy" rating in a research report on Monday, March 3rd. Oppenheimer upped their price objective on shares of Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Finally, Cfra upgraded 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. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $86.00.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $66.32 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. Trimble has a twelve month low of $48.65 and a twelve month high of $77.78. The company's 50 day moving average is $63.92 and its 200 day moving average is $68.88. The company has a market cap of $15.82 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its earnings results 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. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The firm had revenue of $840.60 million during the quarter, compared to analysts' expectations of $810.45 million. During the same quarter last year, the company posted $0.64 earnings per share. The firm's revenue was down 11.8% compared to the same quarter last year. On average, sell-side analysts forecast that Trimble will post 2.37 EPS for the current year.

Insider Transactions at Trimble

In other news, VP Christopher F. Keating sold 5,709 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The shares were 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 link. Also, Director James Calvin Dalton sold 2,141 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the transaction, the director now owns 10,162 shares of the company's stock, valued at approximately $729,529.98. This trade represents a 17.40 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company's stock.

Institutional Trading of Trimble

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Crowley Wealth Management Inc. acquired a new stake in shares of Trimble in the 4th quarter valued at about $28,000. Rialto Wealth Management LLC purchased a new position in shares of Trimble during the fourth quarter worth approximately $35,000. SBI Securities Co. Ltd. purchased a new stake in Trimble in the 4th quarter valued at $36,000. Central Pacific Bank Trust Division raised its position in 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 last quarter. Finally, Larson Financial Group LLC boosted its stake in Trimble by 164.8% during the 4th quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company's stock worth $48,000 after purchasing an additional 422 shares during the period. Institutional investors and hedge funds 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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