Trimble (NASDAQ:TRMB – Free Report) had its target price upped by JPMorgan Chase & Co. from $96.00 to $98.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the scientific and technical instruments company’s stock.
A number of other research firms also recently commented on TRMB. Wall Street Zen upgraded Trimble from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Oppenheimer boosted their target price on Trimble from $88.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $93.00 target price (up from $85.00) on shares of Trimble in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $90.75.
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Trimble Price Performance
NASDAQ:TRMB opened at $82.78 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $19.70 billion, a P/E ratio of 71.36, a P/E/G ratio of 3.35 and a beta of 1.66. Trimble has a 12 month low of $52.91 and a 12 month high of $87.50. The business’s 50-day moving average is $82.03 and its 200 day moving average is $73.10.
Trimble (NASDAQ:TRMB – Get Free Report) last posted its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. The company had revenue of $875.70 million for the quarter, compared to the consensus estimate of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 earnings per share. On average, equities research analysts forecast that Trimble will post 2.37 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Director James Calvin Dalton sold 609 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $82.41, for a total value of $50,187.69. Following the sale, the director directly owned 13,809 shares in the company, valued at approximately $1,137,999.69. This represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert G. Painter sold 115,781 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $82.83, for a total value of $9,590,140.23. Following the completion of the sale, the chief executive officer owned 114,879 shares in the company, valued at approximately $9,515,427.57. The trade was a 50.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 222,992 shares of company stock valued at $18,579,506. 0.54% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Trimble
Hedge funds and other institutional investors have recently modified their holdings of the business. OneDigital Investment Advisors LLC raised its holdings in shares of Trimble by 30.1% in the first quarter. OneDigital Investment Advisors LLC now owns 4,077 shares of the scientific and technical instruments company’s stock worth $268,000 after buying an additional 943 shares during the period. DAVENPORT & Co LLC raised its holdings in shares of Trimble by 6.0% in the first quarter. DAVENPORT & Co LLC now owns 7,956 shares of the scientific and technical instruments company’s stock worth $522,000 after buying an additional 452 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Trimble by 7.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,876 shares of the scientific and technical instruments company’s stock worth $2,355,000 after buying an additional 2,397 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Trimble by 10.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 42,719 shares of the scientific and technical instruments company’s stock worth $2,793,000 after buying an additional 4,185 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Trimble by 25.1% in the first quarter. GAMMA Investing LLC now owns 5,275 shares of the scientific and technical instruments company’s stock worth $346,000 after buying an additional 1,059 shares during the period. 93.21% of the stock is currently owned by hedge funds and other institutional investors.
About Trimble
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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.
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