Analysts Set Trimble Inc. (NASDAQ:TRMB) Price Target at $92.10

Trimble Inc. (NASDAQ:TRMB) has received an average recommendation of “Buy” from the eleven research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $92.10.

A number of brokerages recently weighed in on TRMB. JPMorgan Chase & Co. boosted their price objective on shares of Trimble from $96.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Barclays began coverage on shares of Trimble in a report on Tuesday, October 7th. They issued an “overweight” rating and a $100.00 price objective for the company. Berenberg Bank set a $95.00 price objective on shares of Trimble and gave the stock a “buy” rating in a report on Friday, October 3rd. Oppenheimer boosted their price objective on shares of Trimble from $88.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Trimble in a report on Friday.

Trimble Price Performance

TRMB stock opened at $81.42 on Friday. The firm has a 50 day moving average price of $80.36 and a 200-day moving average price of $75.36. Trimble has a 52-week low of $52.91 and a 52-week high of $87.50. The firm has a market capitalization of $19.38 billion, a price-to-earnings ratio of 70.19, a PEG ratio of 3.31 and a beta of 1.65. 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 (NASDAQ:TRMB) last released its earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share (EPS) for the quarter. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The firm had revenue of $856.50 million during the quarter. Equities research analysts forecast that Trimble will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director James Calvin Dalton sold 609 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $82.41, for a total value of $50,187.69. Following the completion of the transaction, the director directly owned 13,809 shares in the company, valued at $1,137,999.69. The trade was a 4.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert G. Painter sold 115,781 shares of the business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $82.83, for a total transaction of $9,590,140.23. Following the sale, the chief executive officer owned 114,879 shares of the company’s stock, valued at approximately $9,515,427.57. This represents a 50.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 224,321 shares of company stock worth $18,677,518 in the last three months. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Trimble

A number of hedge funds have recently added to or reduced their stakes in TRMB. Norges Bank purchased a new stake in Trimble during the 2nd quarter valued at $198,583,000. Nuveen LLC purchased a new stake in Trimble during the 1st quarter valued at $122,070,000. Generation Investment Management LLP raised its stake in Trimble by 19.1% during the 2nd quarter. Generation Investment Management LLP now owns 9,019,663 shares of the scientific and technical instruments company’s stock valued at $685,314,000 after buying an additional 1,449,315 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Trimble by 26.1% during the 1st 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 buying an additional 1,445,851 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Trimble by 2.0% during the 1st 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 buying an additional 582,124 shares during the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

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.