Trimble Inc. (NASDAQ:TRMB) Receives Consensus Rating of “Moderate Buy” from Analysts

Trimble Inc. (NASDAQ:TRMB) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $64.00.

TRMB has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on Trimble from $48.00 to $56.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Piper Sandler raised shares of Trimble from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $51.00 to $68.00 in a research report on Tuesday, February 13th. Oppenheimer raised their price target on shares of Trimble from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 14th. Finally, Robert W. Baird upped their price objective on shares of Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th.

Trimble Stock Up 1.7 %

Shares of TRMB opened at $64.36 on Friday. The firm has a market cap of $15.81 billion, a PE ratio of 51.49, a price-to-earnings-growth ratio of 2.84 and a beta of 1.50. The company has a quick ratio of 0.87, a current ratio of 1.00 and a debt-to-equity ratio of 0.56. The company’s fifty day moving average is $58.50 and its two-hundred day moving average is $52.14. Trimble has a fifty-two week low of $39.57 and a fifty-two week high of $65.55.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $932.40 million during the quarter, compared to the consensus estimate of $908.43 million. Trimble had a return on equity of 12.59% and a net margin of 8.19%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 earnings per share. Analysts forecast that Trimble will post 2.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Robert G. Painter sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total value of $136,875.00. Following the sale, the chief executive officer now owns 239,901 shares in the company, valued at approximately $13,134,579.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Trimble news, CEO Robert G. Painter sold 3,500 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $62.93, for a total transaction of $220,255.00. Following the transaction, the chief executive officer now owns 187,055 shares of the company’s stock, valued at approximately $11,771,371.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Robert G. Painter sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total value of $136,875.00. Following the completion of the sale, the chief executive officer now owns 239,901 shares of the company’s stock, valued at $13,134,579.75. The disclosure for this sale can be found here. Insiders sold a total of 14,146 shares of company stock valued at $822,509 in the last ninety days. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Trimble

Several large investors have recently added to or reduced their stakes in TRMB. Clear Street Markets LLC raised its holdings in shares of Trimble by 93.2% during the first quarter. Clear Street Markets LLC now owns 485 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 234 shares during the period. IFP Advisors Inc grew its position in shares of Trimble by 798.1% during the 2nd quarter. IFP Advisors Inc now owns 467 shares of the scientific and technical instruments company’s stock valued at $25,000 after buying an additional 415 shares during the last quarter. Frazier Financial Advisors LLC acquired a new stake in Trimble during the fourth quarter worth about $26,000. Itau Unibanco Holding S.A. bought a new position in Trimble in the second quarter worth about $42,000. Finally, Operose Advisors LLC acquired a new position in Trimble in the third quarter valued at approximately $43,000. 93.21% of the stock is currently owned by institutional investors.

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.