Oppenheimer Reiterates “Outperform” Rating for Trimble (NASDAQ:TRMB)

Oppenheimer restated their outperform rating on shares of Trimble (NASDAQ:TRMB) in a research note published on Monday, Benzinga reports. The brokerage currently has a $72.00 price target on the scientific and technical instruments company’s stock.

A number of other equities analysts also recently commented on the stock. Piper Sandler reissued an overweight rating and issued a $73.00 price objective on shares of Trimble in a research note on Monday, April 15th. Robert W. Baird increased their price target on shares of Trimble from $59.00 to $65.00 and gave the company an outperform rating in a research report on Tuesday, February 13th. StockNews.com downgraded shares of Trimble from a buy rating to a hold rating in a research report on Saturday, February 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of Trimble from $57.00 to $67.00 and gave the company a neutral rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Trimble currently has an average rating of Moderate Buy and an average price target of $66.67.

Trimble Price Performance

Shares of TRMB stock opened at $56.78 on Monday. The stock has a market capitalization of $13.87 billion, a price-to-earnings ratio of 59.15, a P/E/G ratio of 2.51 and a beta of 1.51. The company has a current ratio of 1.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.57. Trimble has a twelve month low of $39.57 and a twelve month high of $65.55. The stock has a fifty day simple moving average of $61.17 and a two-hundred day simple moving average of $53.96.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. Trimble had a net margin of 6.25% and a return on equity of 12.04%. The company had revenue of $932.40 million during the quarter, compared to analyst estimates of $908.43 million. During the same period in the prior year, the firm earned $0.52 earnings per share. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, analysts predict that Trimble will post 2.23 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Robert G. Painter sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total value of $136,875.00. Following the sale, the chief executive officer now directly owns 239,901 shares of the company’s stock, valued at approximately $13,134,579.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Robert G. Painter sold 3,500 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $62.93, for a total transaction of $220,255.00. Following the sale, the chief executive officer now owns 187,055 shares in the company, valued at $11,771,371.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Robert G. Painter sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total transaction of $136,875.00. Following the completion of the transaction, the chief executive officer now owns 239,901 shares of the company’s stock, valued at approximately $13,134,579.75. 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 owned by company insiders.

Hedge Funds Weigh In On Trimble

Several institutional investors and hedge funds have recently modified their holdings of the business. Frazier Financial Advisors LLC purchased a new position in shares of Trimble during the 4th quarter valued at approximately $26,000. Tobam acquired a new stake in Trimble in the 1st quarter worth about $35,000. Operose Advisors LLC purchased a new stake in Trimble during the 3rd quarter worth approximately $43,000. Principal Securities Inc. acquired a new position in shares of Trimble during the fourth quarter valued at approximately $52,000. Finally, Sound Income Strategies LLC increased its position in shares of Trimble by 171.9% during the first quarter. Sound Income Strategies LLC now owns 998 shares of the scientific and technical instruments company’s stock worth $64,000 after purchasing an additional 631 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

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.