Trimble (NASDAQ:TRMB) Rating Reiterated by Oppenheimer

Trimble (NASDAQ:TRMB)‘s stock had its “outperform” rating reissued by analysts at Oppenheimer in a report released on Monday, Benzinga reports. They currently have a $72.00 price target on the scientific and technical instruments company’s stock. Oppenheimer’s price objective points to a potential upside of 26.32% from the company’s current price.

Several other research firms have also issued reports on TRMB. Piper Sandler reiterated an “overweight” rating and set a $73.00 target price on shares of Trimble in a report on Monday, April 15th. JPMorgan Chase & Co. upped their price objective on Trimble from $57.00 to $67.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Robert W. Baird raised their target price on shares of Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, February 13th. Finally, StockNews.com downgraded shares of Trimble from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Two 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, Trimble presently has an average rating of “Moderate Buy” and a consensus price target of $66.67.

Trimble Trading Up 1.4 %

NASDAQ TRMB opened at $57.00 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.88. The firm has a market cap of $13.92 billion, a P/E ratio of 59.38, a P/E/G ratio of 2.51 and a beta of 1.51. The stock’s 50-day moving average is $61.34 and its 200-day moving average is $53.92. Trimble has a one year low of $39.57 and a one year high of $65.55.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings data on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $932.40 million during the quarter, compared to the consensus estimate of $908.43 million. Trimble had a net margin of 6.25% and a return on equity of 12.04%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Sell-side analysts anticipate that Trimble will post 2.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Trimble news, CEO Robert G. Painter sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total transaction of $136,875.00. Following the transaction, the chief executive officer now owns 239,901 shares in the company, valued at approximately $13,134,579.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Robert G. Painter sold 3,500 shares of Trimble stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $62.93, for a total value of $220,255.00. Following the transaction, the chief executive officer now owns 187,055 shares in the company, valued at approximately $11,771,371.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert G. Painter sold 2,500 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total value of $136,875.00. Following the transaction, the chief executive officer now directly owns 239,901 shares of the company’s stock, valued at approximately $13,134,579.75. The disclosure for this sale can be found here. Insiders have sold a total of 16,828 shares of company stock worth $1,013,519 in the last quarter. Corporate insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Trimble

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRMB. Frazier Financial Advisors LLC acquired a new stake in shares of Trimble during the 4th quarter valued at $26,000. Tobam acquired a new stake in shares of Trimble during the first quarter valued at about $35,000. Operose Advisors LLC bought a new stake in shares of Trimble during the third quarter worth about $43,000. Principal Securities Inc. acquired a new position in shares of Trimble in the fourth quarter valued at approximately $52,000. Finally, Sound Income Strategies LLC raised its holdings in Trimble by 171.9% in the 1st quarter. Sound Income Strategies LLC now owns 998 shares of the scientific and technical instruments company’s stock valued at $64,000 after buying an additional 631 shares during the last quarter. Institutional investors 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.