Trimble Inc. (NASDAQ:TRMB) Receives $86.00 Consensus Target Price from Analysts

Trimble Inc. (NASDAQ:TRMB) has been assigned an average recommendation of “Buy” from the eight research firms that are covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $86.00.

A number of brokerages have commented on TRMB. JPMorgan Chase & Co. upgraded Trimble from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $74.00 to $92.00 in a research report on Wednesday, December 4th. Oppenheimer raised their price objective on Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Robert W. Baird raised their price objective on Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Piper Sandler reissued an “overweight” rating and issued a $84.00 price target on shares of Trimble in a research note on Wednesday, December 11th. Finally, Sanford C. Bernstein boosted their price target on Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th.

Trimble Trading Up 2.1 %

Shares of NASDAQ TRMB opened at $69.06 on Friday. Trimble has a one year low of $48.65 and a one year high of $77.78. The firm has a market capitalization of $16.97 billion, a PE ratio of 11.34, a PEG ratio of 3.09 and a beta of 1.57. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average price of $72.94 and a two-hundred day moving average price of $67.64.

Insiders Place Their Bets

In other news, VP Jennifer Allison sold 3,571 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $74.75, for a total transaction of $266,932.25. Following the completion of the transaction, the vice president now directly owns 3,157 shares in the company, valued at $235,985.75. The trade was a 53.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher F. Keating sold 5,709 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total value of $411,048.00. The disclosure for this sale can be found here. Insiders sold 11,421 shares of company stock valued at $831,683 over the last 90 days. 0.47% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. KBC Group NV lifted its holdings in shares of Trimble by 81.9% during the fourth quarter. KBC Group NV now owns 159,622 shares of the scientific and technical instruments company’s stock worth $11,279,000 after buying an additional 71,891 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Trimble by 18.4% during the third quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company’s stock worth $24,296,000 after buying an additional 60,752 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Trimble by 22.2% in the third quarter. JPMorgan Chase & Co. now owns 750,423 shares of the scientific and technical instruments company’s stock valued at $46,594,000 after purchasing an additional 136,452 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of Trimble by 76.5% in the third quarter. Benjamin Edwards Inc. now owns 40,193 shares of the scientific and technical instruments company’s stock valued at $2,496,000 after purchasing an additional 17,424 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC raised its stake in shares of Trimble by 768.5% in 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 purchasing an additional 132,467 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

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.