Trimble (NASDAQ:TRMB) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Trimble (NASDAQ:TRMB) had its price objective upped by JPMorgan Chase & Co. from $88.00 to $95.00 in a research report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the scientific and technical instruments company’s stock.

A number of other equities research analysts have also recently commented on the company. Piper Sandler restated an “overweight” rating and set a $84.00 target price on shares of Trimble in a research report on Thursday, May 8th. Wall Street Zen downgraded Trimble from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $89.43.

Trimble Stock Down 1.0%

Shares of TRMB stock opened at $79.99 on Thursday. Trimble has a twelve month low of $48.65 and a twelve month high of $81.66. The stock has a market cap of $19.08 billion, a P/E ratio of 13.05, a P/E/G ratio of 3.41 and a beta of 1.67. The stock has a 50 day moving average of $72.69 and a 200 day moving average of $70.02. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.26.

Trimble (NASDAQ:TRMB) last posted its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $840.60 million during the quarter, compared to analysts’ expectations of $810.45 million. Trimble had a net margin of 42.40% and a return on equity of 9.87%. The business’s revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 EPS. As a group, sell-side analysts expect that Trimble will post 2.37 EPS for the current year.

Insider Transactions at Trimble

In other news, CEO Robert G. Painter sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $78.86, for a total value of $591,450.00. Following the transaction, the chief executive officer directly owned 114,879 shares of the company’s stock, valued at approximately $9,059,357.94. This trade represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Kaigham Gabriel sold 6,511 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total transaction of $466,773.59. Following the sale, the director directly owned 17,939 shares of the company’s stock, valued at approximately $1,286,046.91. This represents a 26.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,487 shares of company stock valued at $1,173,352 over the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Trimble

Hedge funds and other institutional investors have recently modified their holdings of the stock. M&T Bank Corp increased its position in Trimble by 1.6% during the fourth quarter. M&T Bank Corp now owns 10,155 shares of the scientific and technical instruments company’s stock worth $717,000 after purchasing an additional 156 shares during the last quarter. MAI Capital Management lifted its holdings in Trimble by 6.6% in the first quarter. MAI Capital Management now owns 2,684 shares of the scientific and technical instruments company’s stock valued at $176,000 after acquiring an additional 165 shares during the last quarter. Huntington National Bank grew its position in Trimble by 10.4% in the fourth quarter. Huntington National Bank now owns 1,768 shares of the scientific and technical instruments company’s stock worth $125,000 after acquiring an additional 167 shares during the period. Horizon Investments LLC increased its stake in Trimble by 5.6% during the first quarter. Horizon Investments LLC now owns 3,528 shares of the scientific and technical instruments company’s stock worth $232,000 after acquiring an additional 188 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Trimble by 8.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,610 shares of the scientific and technical instruments company’s stock valued at $184,000 after purchasing an additional 193 shares during the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

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.