Trimble Inc. (NASDAQ:TRMB) Receives $90.75 Average Price Target from Analysts

Trimble Inc. (NASDAQ:TRMB) has been given an average rating of “Buy” by the eight analysts that are presently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $90.75.

TRMB has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on Trimble from $96.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Oppenheimer lifted their target price on shares of Trimble from $88.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Wall Street Zen upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $93.00 price objective (up previously from $85.00) on shares of Trimble in a research note on Thursday, August 7th.

Trimble Trading Up 1.6%

Trimble stock opened at $81.24 on Tuesday. The firm’s 50 day moving average price is $82.05 and its two-hundred day moving average price is $73.60. The firm has a market cap of $19.33 billion, a price-to-earnings ratio of 70.04, a price-to-earnings-growth ratio of 3.33 and a beta of 1.66. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94. Trimble has a 1 year low of $52.91 and a 1 year high of $87.50.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The firm had revenue of $875.70 million during the quarter, compared to analyst estimates of $835.81 million. During the same quarter last year, the business posted $0.62 EPS. The company’s revenue was up .6% on a year-over-year basis. On average, research analysts predict that Trimble will post 2.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Christopher F. Keating sold 7,365 shares of Trimble stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $81.74, for a total value of $602,015.10. Following the transaction, the vice president directly owned 406 shares in the company, valued at approximately $33,186.44. The trade was a 94.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jennifer Allison sold 3,156 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $252,480.00. Following the completion of the sale, the vice president directly owned 2,882 shares of the company’s stock, valued at approximately $230,560. This trade represents a 52.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 230,357 shares of company stock worth $19,181,521 in the last three months. 0.54% of the stock is owned by insiders.

Institutional Investors Weigh In On Trimble

Institutional investors have recently added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC grew its holdings in Trimble by 30.1% during the 1st quarter. OneDigital Investment Advisors LLC now owns 4,077 shares of the scientific and technical instruments company’s stock worth $268,000 after acquiring an additional 943 shares during the last quarter. DAVENPORT & Co LLC raised its position in shares of Trimble by 6.0% in the 1st quarter. DAVENPORT & Co LLC now owns 7,956 shares of the scientific and technical instruments company’s stock valued at $522,000 after acquiring an additional 452 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Trimble by 7.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 35,876 shares of the scientific and technical instruments company’s stock valued at $2,355,000 after buying an additional 2,397 shares during the period. CX Institutional raised its position in shares of Trimble by 11.7% during the second quarter. CX Institutional now owns 7,054 shares of the scientific and technical instruments company’s stock worth $536,000 after purchasing an additional 739 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Trimble by 10.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 42,719 shares of the scientific and technical instruments company’s stock valued at $2,793,000 after purchasing an additional 4,185 shares during the period. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Company Profile

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.