Trimble Inc. (NASDAQ:TRMB) Receives $96.67 Average Target Price from Analysts

by · The Cerbat Gem

Shares of Trimble Inc. (NASDAQ:TRMB – Get Free Report) have received an average recommendation of “Buy” from the eleven ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $96.6667.

A number of equities analysts recently commented on the company. Barclays started coverage on Trimble in a research report on Tuesday, October 7th. They set an “overweight” rating and a $100.00 price objective on the stock. JPMorgan Chase & Co. lifted their price target on Trimble from $96.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Berenberg Bank set a $95.00 price objective on shares of Trimble and gave the company a “buy” rating in a report on Friday, October 3rd. Oppenheimer reaffirmed an “outperform” rating and set a $102.00 target price on shares of Trimble in a research note on Thursday, November 6th. Finally, KeyCorp raised shares of Trimble from a “sector weight” rating to an “overweight” rating and set a $99.00 price target for the company in a research note on Monday, December 15th.

Get Our Latest Analysis on Trimble

Trimble Price Performance

Shares of NASDAQ TRMB opened at $78.33 on Thursday. The firm has a 50-day simple moving average of $79.86 and a 200-day simple moving average of $80.14. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $18.64 billion, a price-to-earnings ratio of 53.65, a price-to-earnings-growth ratio of 2.73 and a beta of 1.59. Trimble has a 52 week low of $52.91 and a 52 week high of $87.50.

Trimble (NASDAQ:TRMB – Get Free Report) last released its quarterly earnings data on Friday, April 12th. The scientific and technical instruments company reported $0.60 EPS for the quarter. Trimble had a net margin of 9.93% and a return on equity of 10.73%. The company had revenue of $856.50 million during the quarter. On average, equities analysts predict that Trimble will post 2.37 earnings per share for the current fiscal year.

Trimble declared that its Board of Directors has approved a stock buyback plan on Friday, December 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the scientific and technical instruments company to buy up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Trimble

In other Trimble news, CFO Phillip Sawarynski sold 2,250 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $80.45, for a total value of $181,012.50. Following the transaction, the chief financial officer owned 25,684 shares of the company’s stock, valued at $2,066,277.80. This represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James Calvin Dalton sold 616 shares of Trimble stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $81.99, for a total transaction of $50,505.84. Following the sale, the director owned 13,193 shares of the company’s stock, valued at approximately $1,081,694.07. This represents a 4.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 27,084 shares of company stock valued at $2,144,726 in the last quarter. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Trimble

A number of hedge funds have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC purchased a new stake in shares of Trimble during the third quarter worth $25,000. Root Financial Partners LLC purchased a new stake in Trimble during the 3rd quarter worth about $30,000. Quarry LP increased its holdings in Trimble by 175.8% during the 3rd quarter. Quarry LP now owns 364 shares of the scientific and technical instruments company’s stock worth $30,000 after purchasing an additional 232 shares during the period. Hantz Financial Services Inc. raised its position in Trimble by 90.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 372 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 177 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its stake in shares of Trimble by 78.7% in the 3rd quarter. Global Retirement Partners LLC now owns 411 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 181 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Company Profile

(Get Free Report)

Trimble Inc (NASDAQ: TRMB) is a technology company that develops hardware, software and services to improve the productivity and connectivity of customers across the construction, agriculture, geospatial, transportation and logistics, and natural resources sectors. The company’s offerings center on advanced positioning technologies — including GNSS/GPS receivers, inertial sensors and laser scanning — integrated with application-specific software and cloud services to enable precise measurement, modeling, machine control and workflow automation for field and office operations.

Trimble’s product portfolio spans surveying and geospatial instruments (total stations, mobile mapping and terrestrial laser scanners), construction solutions (machine control systems, site positioning and estimating), agriculture systems (auto-steer, guidance and application-control platforms), and fleet and transportation telematics.

Read More