Trimble (NASDAQ:TRMB) Price Target Raised to $66.00

Trimble (NASDAQ:TRMB) had its target price hoisted by JPMorgan Chase & Co. from $58.00 to $66.00 in a research note published on Thursday, Benzinga reports. They currently have a neutral rating on the scientific and technical instruments company’s stock.

Other equities research analysts have also issued research reports about the stock. StockNews.com raised shares of Trimble from a hold rating to a buy rating in a research report on Thursday, September 12th. Robert W. Baird upped their target price on shares of Trimble from $65.00 to $66.00 and gave the company an outperform rating in a report on Thursday, August 8th. Piper Sandler reiterated an overweight rating and set a $73.00 price target on shares of Trimble in a research note on Monday, August 19th. Finally, Oppenheimer reissued an outperform rating and set a $72.00 price objective on shares of Trimble in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Trimble presently has an average rating of Moderate Buy and an average price target of $66.67.

Trimble Trading Down 2.7 %

Shares of TRMB stock opened at $58.57 on Thursday. The stock has a market capitalization of $14.30 billion, a P/E ratio of 61.01, a P/E/G ratio of 2.63 and a beta of 1.48. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25. The firm’s 50 day moving average is $55.34 and its 200 day moving average is $57.44. Trimble has a 12-month low of $39.57 and a 12-month high of $65.55.

Trimble (NASDAQ:TRMB) last released its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $870.80 million for the quarter, compared to the consensus estimate of $862.50 million. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same period last year, the business posted $0.51 EPS. Research analysts expect that Trimble will post 2.22 earnings per share for the current year.

Institutional Trading of Trimble

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Trimble during the 2nd quarter valued at $6,084,000. Sanctuary Advisors LLC bought a new position in shares of Trimble in the second quarter worth about $419,000. Aristides Capital LLC purchased a new stake in shares of Trimble during the second quarter worth about $219,000. Truist Financial Corp grew its position in shares of Trimble by 5.3% during the second quarter. Truist Financial Corp now owns 43,879 shares of the scientific and technical instruments company’s stock worth $2,454,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Quarry LP raised its stake in Trimble by 4,988.6% during the 2nd quarter. Quarry LP now owns 2,239 shares of the scientific and technical instruments company’s stock valued at $125,000 after purchasing an additional 2,195 shares during the period. 93.21% of the stock is owned by hedge funds and other institutional investors.

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.