Trimble (NASDAQ:TRMB) Price Target Raised to $84.00 at Piper Sandler

Trimble (NASDAQ:TRMB) had its target price boosted by Piper Sandler from $73.00 to $84.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the scientific and technical instruments company’s stock. Piper Sandler’s price objective would suggest a potential upside of 15.64% from the company’s current price.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. increased their price target on shares of Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Oppenheimer reiterated an “outperform” rating and issued a $72.00 price target on shares of Trimble in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Robert W. Baird increased their price objective on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Trimble presently has an average rating of “Moderate Buy” and a consensus price target of $70.60.

Trimble Stock Up 17.9 %

Shares of NASDAQ TRMB opened at $72.64 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25. Trimble has a 12 month low of $40.79 and a 12 month high of $73.17. The firm has a market capitalization of $17.74 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 2.75 and a beta of 1.49. The firm has a fifty day simple moving average of $59.82 and a two-hundred day simple moving average of $57.29.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. The business had revenue of $870.80 million during the quarter, compared to analyst estimates of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 EPS. Equities analysts expect that Trimble will post 2.23 earnings per share for the current year.

Institutional Trading of Trimble

Several institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Trimble by 25.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 296,093 shares of the scientific and technical instruments company’s stock valued at $19,057,000 after acquiring an additional 60,409 shares during the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of Trimble by 484.3% in the first quarter. Illinois Municipal Retirement Fund now owns 90,705 shares of the scientific and technical instruments company’s stock worth $5,838,000 after buying an additional 75,182 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Trimble by 11.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 247,807 shares of the scientific and technical instruments company’s stock worth $15,960,000 after buying an additional 24,938 shares during the last quarter. Trustmark National Bank Trust Department purchased a new position in shares of Trimble in the first quarter worth approximately $579,000. Finally, Swedbank AB purchased a new position in shares of Trimble in the first quarter worth approximately $17,937,000. 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.