Trimble (NASDAQ:TRMB) Given New $95.00 Price Target at JPMorgan Chase & Co.

Trimble (NASDAQ:TRMB - Get Free Report) had its price objective increased by research analysts at JPMorgan Chase & Co. from $88.00 to $95.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the scientific and technical instruments company's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 17.53% from the company's previous close.

Several other equities research analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Piper Sandler reissued an "overweight" rating and set a $84.00 price objective on shares of Trimble in a research report on Thursday, May 8th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Trimble has an average rating of "Buy" and an average target price of $89.43.

Trimble Trading Up 1.5%

NASDAQ TRMB traded up $1.21 during trading hours on Thursday, hitting $80.83. The company's stock had a trading volume of 1,535,168 shares, compared to its average volume of 1,401,351. The stock has a fifty day moving average of $72.01 and a 200 day moving average of $69.91. Trimble has a twelve month low of $48.65 and a twelve month high of $81.63. The firm has a market capitalization of $19.29 billion, a P/E ratio of 13.19, a PEG ratio of 3.38 and a beta of 1.67. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 0.26.

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

Insider Buying and Selling at Trimble

In related news, VP Mark David Schwartz sold 1,476 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $78.00, for a total transaction of $115,128.00. Following the completion of the transaction, the vice president owned 22,405 shares in the company, valued at approximately $1,747,590. This represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kaigham Gabriel sold 6,511 shares of the 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 sale, the director owned 17,939 shares of the company's stock, valued at approximately $1,286,046.91. This represents a 26.63% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

Institutional Trading of Trimble

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Trimble by 2.0% in the first quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company's stock valued at $1,988,450,000 after acquiring an additional 582,124 shares during the last quarter. Select Equity Group L.P. lifted its stake in Trimble by 22.4% in the fourth quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company's stock valued at $717,506,000 after acquiring an additional 1,857,517 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Trimble by 26.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,978,106 shares of the scientific and technical instruments company's stock valued at $458,113,000 after acquiring an additional 1,445,851 shares during the last quarter. Geode Capital Management LLC lifted its stake in Trimble by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 6,036,228 shares of the scientific and technical instruments company's stock valued at $425,427,000 after acquiring an additional 138,136 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Trimble by 2.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,532,255 shares of the scientific and technical instruments company's stock valued at $390,909,000 after acquiring an additional 134,277 shares during the last quarter. 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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