Trimble (NASDAQ:TRMB) Given New $67.00 Price Target at JPMorgan Chase & Co.

Trimble (NASDAQ:TRMB) had its target price lifted by JPMorgan Chase & Co. from $57.00 to $67.00 in a research report sent to investors on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the scientific and technical instruments company’s stock.

Several other equities research analysts have also weighed in on TRMB. Piper Sandler reissued an overweight rating and issued a $73.00 price objective on shares of Trimble in a report on Monday, April 15th. StockNews.com downgraded shares of Trimble from a buy rating to a hold rating in a research note on Saturday, February 10th. Oppenheimer upped their price target on shares of Trimble from $65.00 to $72.00 and gave the company an outperform rating in a research note on Thursday, March 14th. Finally, Robert W. Baird raised their price objective on shares of Trimble from $59.00 to $65.00 and gave the stock an outperform rating in a report on Tuesday, February 13th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $66.67.

Trimble Stock Performance

NASDAQ TRMB opened at $58.59 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.87 and a current ratio of 1.00. The company has a market capitalization of $14.31 billion, a PE ratio of 46.87, a price-to-earnings-growth ratio of 2.69 and a beta of 1.51. Trimble has a 52-week low of $39.57 and a 52-week high of $65.55. The company has a 50-day simple moving average of $61.72 and a 200 day simple moving average of $53.66.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. Trimble had a net margin of 8.19% and a return on equity of 12.59%. The company had revenue of $932.40 million during the quarter, compared to analyst estimates of $908.43 million. During the same quarter last year, the business posted $0.52 EPS. Trimble’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, research analysts predict that Trimble will post 2.23 EPS for the current year.

Insider Activity

In related news, VP Jennifer Allison sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total value of $297,900.00. Following the completion of the transaction, the vice president now directly owns 2,315 shares in the company, valued at $137,927.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Jennifer Allison sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total transaction of $297,900.00. Following the transaction, the vice president now directly owns 2,315 shares of the company’s stock, valued at approximately $137,927.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Peter Large sold 1,447 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $59.10, for a total value of $85,517.70. Following the completion of the sale, the senior vice president now owns 8,220 shares of the company’s stock, valued at approximately $485,802. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,828 shares of company stock worth $1,013,519. 0.47% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trimble

Institutional investors and hedge funds have recently made changes to their positions in the business. First Horizon Advisors Inc. boosted its position in Trimble by 18.3% during the fourth quarter. First Horizon Advisors Inc. now owns 1,269 shares of the scientific and technical instruments company’s stock valued at $68,000 after buying an additional 196 shares during the period. Fulton Bank N.A. boosted its holdings in Trimble by 2.6% during the 1st quarter. Fulton Bank N.A. now owns 7,725 shares of the scientific and technical instruments company’s stock valued at $497,000 after acquiring an additional 199 shares during the period. First Eagle Investment Management LLC boosted its holdings in Trimble by 6.8% during the 4th quarter. First Eagle Investment Management LLC now owns 3,145 shares of the scientific and technical instruments company’s stock valued at $167,000 after acquiring an additional 200 shares during the period. Czech National Bank increased its stake in Trimble by 0.5% in the 1st quarter. Czech National Bank now owns 43,771 shares of the scientific and technical instruments company’s stock worth $2,817,000 after purchasing an additional 201 shares during the period. Finally, Caprock Group LLC increased its stake in Trimble by 1.9% in the 1st quarter. Caprock Group LLC now owns 12,584 shares of the scientific and technical instruments company’s stock worth $810,000 after purchasing an additional 233 shares during the period. 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.