Trimble (NASDAQ:TRMB) Given New $74.00 Price Target at JPMorgan Chase & Co.

Trimble (NASDAQ:TRMB) had its price target upped by JPMorgan Chase & Co. from $66.00 to $74.00 in a report published on Thursday,Benzinga reports. The firm currently has a neutral rating on the scientific and technical instruments company’s stock.

A number of other equities research analysts also recently commented on the stock. Piper Sandler lifted their target price on shares of Trimble from $73.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Robert W. Baird upped their price target 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. Finally, Oppenheimer reiterated an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.40.

Trimble Stock Up 0.7 %

Shares of NASDAQ TRMB traded up $0.51 during trading on Thursday, reaching $72.65. The company had a trading volume of 1,300,123 shares, compared to its average volume of 1,348,144. The business’s 50-day moving average is $60.14 and its 200 day moving average is $57.39. The company has a quick ratio of 0.88, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. The stock has a market cap of $17.74 billion, a PE ratio of 11.96, a P/E/G ratio of 3.23 and a beta of 1.49. Trimble has a 12-month low of $40.79 and a 12-month high of $73.17.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates 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 40.67% and a return on equity of 10.18%. Trimble’s revenue was down 12.4% compared to the same quarter last year. During the same period last year, the business earned $0.51 EPS. As a group, equities analysts forecast that Trimble will post 2.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. GPS Wealth Strategies Group LLC raised its stake in Trimble by 303.2% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock worth $36,000 after acquiring an additional 479 shares during the period. Blue Trust Inc. lifted its stake in shares of Trimble by 96.0% during the 2nd quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 313 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Trimble during the 3rd quarter valued at $49,000. Cromwell Holdings LLC raised its stake in Trimble by 86.6% during the 3rd quarter. Cromwell Holdings LLC now owns 808 shares of the scientific and technical instruments company’s stock valued at $50,000 after purchasing an additional 375 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Trimble during the second quarter valued at approximately $48,000. Institutional investors own 93.21% of the company’s stock.

Trimble Company Profile

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.