Brokerages Set Trimble Inc. (NASDAQ:TRMB) Price Target at $66.67

Trimble Inc. (NASDAQ:TRMB) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $66.67.

Several brokerages recently issued reports on TRMB. JPMorgan Chase & Co. raised their target price on shares of Trimble from $57.00 to $67.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Piper Sandler restated an “overweight” rating and issued a $73.00 target price on shares of Trimble in a report on Monday, May 6th. Raymond James restated an “outperform” rating and issued a $65.00 target price on shares of Trimble in a report on Wednesday, May 15th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $72.00 price target on shares of Trimble in a research report on Monday, May 6th.

Trimble Trading Down 0.7 %

NASDAQ:TRMB opened at $55.00 on Thursday. The company’s 50 day moving average price is $55.95 and its 200-day moving average price is $57.55. Trimble has a 52 week low of $39.57 and a 52 week high of $65.55. The company has a quick ratio of 0.88, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. The stock has a market cap of $13.43 billion, a price-to-earnings ratio of 57.29, a PEG ratio of 2.51 and a beta of 1.50.

Trimble (NASDAQ:TRMB) last issued its earnings results on Friday, May 3rd. The scientific and technical instruments company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. Trimble had a net margin of 6.25% and a return on equity of 12.04%. The company had revenue of $953.30 million for the quarter, compared to analysts’ expectations of $921.15 million. On average, equities research analysts forecast that Trimble will post 2.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Truist Financial Corp raised its position in shares of Trimble by 56.7% during the 4th quarter. Truist Financial Corp now owns 38,884 shares of the scientific and technical instruments company’s stock valued at $2,069,000 after purchasing an additional 14,074 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position 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 purchasing an additional 60,409 shares during the period. Hunter Associates Investment Management LLC raised its position in shares of Trimble by 51.3% during the 4th quarter. Hunter Associates Investment Management LLC now owns 40,988 shares of the scientific and technical instruments company’s stock valued at $2,185,000 after purchasing an additional 13,899 shares during the period. Jump Financial LLC raised its position in shares of Trimble by 80.9% during the 4th quarter. Jump Financial LLC now owns 40,203 shares of the scientific and technical instruments company’s stock valued at $2,139,000 after purchasing an additional 17,979 shares during the period. Finally, Contour Asset Management LLC raised its position in shares of Trimble by 14.6% during the 4th quarter. Contour Asset Management LLC now owns 3,479,817 shares of the scientific and technical instruments company’s stock valued at $185,126,000 after purchasing an additional 442,131 shares during the period. 93.21% of the stock is currently 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'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.