Trimble Inc. (NASDAQ:TRMB) Receives $86.00 Consensus PT from Brokerages

Shares of Trimble Inc. (NASDAQ:TRMB) have been given a consensus rating of “Buy” by the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $86.00.

TRMB has been the subject of a number of recent analyst reports. Sanford C. Bernstein increased their target price on shares of Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Wolfe Research raised Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price objective for the company in a research note on Monday, December 16th. Piper Sandler reissued an “overweight” rating and set a $84.00 target price on shares of Trimble in a research report on Wednesday, December 11th. Oppenheimer upped their price target on Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, Cfra raised shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target on the stock in a research report on Thursday, February 20th.

Insider Buying and Selling

In other news, VP Christopher F. Keating sold 5,709 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total transaction of $411,048.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jennifer Allison sold 3,571 shares of Trimble stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $74.75, for a total value of $266,932.25. Following the completion of the sale, the vice president now directly owns 3,157 shares of the company’s stock, valued at approximately $235,985.75. This trade represents a 53.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,421 shares of company stock valued at $831,683. 0.47% of the stock is owned by insiders.

Hedge Funds Weigh In On Trimble

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRMB. KBC Group NV grew its position in shares of Trimble by 81.9% in the fourth quarter. KBC Group NV now owns 159,622 shares of the scientific and technical instruments company’s stock valued at $11,279,000 after purchasing an additional 71,891 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Trimble by 22.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 750,423 shares of the scientific and technical instruments company’s stock valued at $46,594,000 after buying an additional 136,452 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in Trimble by 76.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 40,193 shares of the scientific and technical instruments company’s stock valued at $2,496,000 after buying an additional 17,424 shares in the last quarter. Worldquant Millennium Advisors LLC increased its position in shares of Trimble by 768.5% during the third quarter. Worldquant Millennium Advisors LLC now owns 149,705 shares of the scientific and technical instruments company’s stock valued at $9,295,000 after buying an additional 132,467 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Trimble by 5.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 376,368 shares of the scientific and technical instruments company’s stock worth $26,560,000 after buying an additional 17,785 shares in the last quarter. Institutional investors own 93.21% of the company’s stock.

Trimble Stock Performance

Trimble stock opened at $56.51 on Tuesday. The business has a 50 day moving average of $70.76 and a 200-day moving average of $69.14. The company has a market capitalization of $13.89 billion, a P/E ratio of 9.28, a P/E/G ratio of 3.09 and a beta of 1.57. Trimble has a 1 year low of $48.65 and a 1 year high of $77.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07.

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.