Trimble (NASDAQ:TRMB) Receives Overweight Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Trimble (NASDAQ:TRMB) in a research report sent to investors on Friday,Benzinga reports. Piper Sandler currently has a $97.00 target price on the scientific and technical instruments company’s stock.

TRMB has been the subject of several other research reports. JPMorgan Chase & Co. lifted their price target on Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Wall Street Zen upgraded shares of Trimble from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Barclays started coverage on shares of Trimble in a research report on Tuesday, October 7th. They set an “overweight” rating and a $100.00 price target for the company. Oppenheimer reiterated an “outperform” rating and issued a $102.00 price target on shares of Trimble in a report on Thursday. Finally, Berenberg Bank set a $95.00 price objective on Trimble and gave the stock a “buy” rating in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $94.20.

Trimble Trading Up 0.1%

TRMB traded up $0.08 during trading on Friday, hitting $78.90. The company’s stock had a trading volume of 1,087,883 shares, compared to its average volume of 1,520,149. Trimble has a twelve month low of $52.91 and a twelve month high of $87.50. The stock has a market cap of $18.77 billion, a PE ratio of 68.02, a PEG ratio of 3.26 and a beta of 1.66. The firm’s 50 day moving average price is $79.98 and its 200-day moving average price is $76.94. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share (EPS) for the quarter. The business had revenue of $856.50 million for the quarter. Trimble had a return on equity of 10.24% and a net margin of 8.02%. On average, analysts expect that Trimble will post 2.37 earnings per share for the current year.

Insider Activity at Trimble

In other Trimble news, CEO Robert G. Painter sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $75.65, for a total value of $567,375.00. Following the transaction, the chief executive officer directly owned 92,379 shares of the company’s stock, valued at $6,988,471.35. This trade represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Christopher F. Keating sold 7,365 shares of the business’s 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 owned 406 shares in the company, valued at approximately $33,186.44. This represents a 94.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 131,255 shares of company stock worth $10,809,718. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Trimble

Several large investors have recently bought and sold shares of the company. Salomon & Ludwin LLC purchased a new position in shares of Trimble in the third quarter valued at $25,000. Root Financial Partners LLC acquired a new position in Trimble in the 3rd quarter worth $30,000. Hantz Financial Services Inc. boosted its position in Trimble by 90.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 372 shares of the scientific and technical instruments company’s stock valued at $30,000 after buying an additional 177 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of Trimble by 78.7% during the third quarter. Global Retirement Partners LLC now owns 411 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 181 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Trimble during the second quarter worth about $34,000. 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.