Trimble’s (TRMB) “Overweight” Rating Reiterated at Piper Sandler

Trimble (NASDAQ:TRMB)‘s stock had its “overweight” rating reissued by research analysts at Piper Sandler in a research note issued to investors on Monday, Benzinga reports. They currently have a $73.00 price objective on the scientific and technical instruments company’s stock. Piper Sandler’s price target suggests a potential upside of 23.90% from the stock’s previous close.

Several other equities analysts also recently weighed in on TRMB. JPMorgan Chase & Co. lifted their price target on shares of Trimble from $48.00 to $56.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Oppenheimer lifted their price objective on shares of Trimble from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, March 14th. StockNews.com cut shares of Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Finally, Robert W. Baird lifted 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. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $64.83.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $58.92 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.00 and a quick ratio of 0.87. Trimble has a 1-year low of $39.57 and a 1-year high of $65.55. The company has a market capitalization of $14.48 billion, a P/E ratio of 47.14, a P/E/G ratio of 2.71 and a beta of 1.50. The firm’s 50 day simple moving average is $61.20 and its two-hundred day simple moving average is $53.12.

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

Insiders Place Their Bets

In other Trimble news, VP Jennifer Allison sold 5,000 shares of Trimble stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total transaction of $297,900.00. Following the completion of the transaction, the vice president now directly owns 2,315 shares of the company’s stock, valued at $137,927.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Robert G. Painter sold 2,500 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total transaction of $136,875.00. Following the completion of the sale, the chief executive officer now directly owns 239,901 shares of the company’s stock, valued at $13,134,579.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jennifer Allison sold 5,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total transaction of $297,900.00. Following the sale, the vice president now directly owns 2,315 shares of the company’s stock, valued at $137,927.70. The disclosure for this sale can be found here. Insiders sold 15,146 shares of company stock valued at $913,634 over the last three months. 0.61% of the stock is owned by company insiders.

Institutional Trading of Trimble

A number of large investors have recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC lifted its stake in Trimble by 383.0% in the third quarter. Schonfeld Strategic Advisors LLC now owns 220,587 shares of the scientific and technical instruments company’s stock worth $11,881,000 after acquiring an additional 174,917 shares during the period. Barclays PLC lifted its stake in Trimble by 43.6% in the third quarter. Barclays PLC now owns 580,280 shares of the scientific and technical instruments company’s stock worth $31,254,000 after acquiring an additional 176,139 shares during the period. Vontobel Holding Ltd. lifted its stake in Trimble by 10.6% in the third quarter. Vontobel Holding Ltd. now owns 1,560,848 shares of the scientific and technical instruments company’s stock worth $84,067,000 after acquiring an additional 150,125 shares during the period. Raymond James & Associates lifted its stake in Trimble by 126.1% in the fourth quarter. Raymond James & Associates now owns 133,858 shares of the scientific and technical instruments company’s stock worth $7,121,000 after acquiring an additional 74,667 shares during the period. Finally, Comerica Bank purchased a new stake in Trimble in the second quarter worth about $4,647,000. 93.21% of the stock is owned by hedge funds and other 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.