Trimble (NASDAQ:TRMB) PT Raised to $50.00 at Oppenheimer

Trimble (NASDAQ:TRMB) had its target price hoisted by Oppenheimer from $46.00 to $50.00 in a research report released on Thursday, BenzingaRatingsTable reports. They currently have an outperform rating on the scientific and technical instruments company’s stock.

A number of other equities analysts also recently commented on TRMB. BidaskClub downgraded shares of Trimble from a buy rating to a hold rating in a report on Wednesday, November 13th. KeyCorp started coverage on shares of Trimble in a report on Thursday, January 9th. They issued a sector weight rating for the company. Finally, Zacks Investment Research downgraded shares of Trimble from a buy rating to a hold rating and set a $46.00 price objective for the company. in a report on Wednesday, January 22nd. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $44.25.

Trimble stock traded up $0.46 during mid-day trading on Thursday, reaching $45.36. The company’s stock had a trading volume of 1,504,239 shares, compared to its average volume of 949,144. The firm has a market cap of $11.30 billion, a price-to-earnings ratio of 35.72, a PEG ratio of 3.17 and a beta of 1.97. The business has a 50 day moving average price of $43.02 and a 200-day moving average price of $40.15. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.58. Trimble has a twelve month low of $35.86 and a twelve month high of $46.25.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Wednesday, February 12th. The scientific and technical instruments company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. The firm had revenue of $826.70 million during the quarter, compared to the consensus estimate of $784.13 million. Trimble had a net margin of 9.97% and a return on equity of 15.63%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.48 earnings per share. On average, equities analysts expect that Trimble will post 1.68 EPS for the current fiscal year.

In other news, VP Michael Bank sold 5,801 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $39.42, for a total transaction of $228,675.42. Following the completion of the transaction, the vice president now owns 16,995 shares of the company’s stock, valued at $669,942.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Darryl R. Matthews sold 5,362 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $40.01, for a total transaction of $214,533.62. Following the transaction, the senior vice president now directly owns 23,933 shares of the company’s stock, valued at approximately $957,559.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,620 shares of company stock valued at $744,248. Corporate insiders own 0.39% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Trimble by 1.0% during the second quarter. BlackRock Inc. now owns 26,202,380 shares of the scientific and technical instruments company’s stock valued at $1,181,991,000 after acquiring an additional 261,511 shares during the period. Parnassus Investments CA boosted its holdings in shares of Trimble by 7.4% during the fourth quarter. Parnassus Investments CA now owns 11,359,400 shares of the scientific and technical instruments company’s stock valued at $473,573,000 after acquiring an additional 784,810 shares during the period. Pictet Asset Management Ltd. boosted its holdings in shares of Trimble by 4.4% during the fourth quarter. Pictet Asset Management Ltd. now owns 4,455,795 shares of the scientific and technical instruments company’s stock valued at $185,762,000 after acquiring an additional 186,028 shares during the period. Johanson Financial Advisors Inc. lifted its holdings in Trimble by 4,069.0% in the fourth quarter. Johanson Financial Advisors Inc. now owns 4,374,281 shares of the scientific and technical instruments company’s stock worth $104,924,000 after purchasing an additional 4,269,357 shares during the period. Finally, King Luther Capital Management Corp lifted its holdings in Trimble by 0.6% in the fourth quarter. King Luther Capital Management Corp now owns 4,209,131 shares of the scientific and technical instruments company’s stock worth $175,479,000 after purchasing an additional 24,600 shares during the period. 90.92% of the stock is owned by 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 operates in four segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; building information modeling software; integrated site layout and measurement systems; applications for sub-contractors and trades; and integrated workplace management services software.

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