Wells Fargo & Company Cuts Trimble (NASDAQ:TRMB) Price Target to $79.00

Trimble (NASDAQ:TRMB) had its price target trimmed by Wells Fargo & Company from $94.00 to $79.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the scientific and technical instruments company’s stock.

A number of other research analysts have also recently weighed in on TRMB. Barclays increased their target price on shares of Trimble from $100.00 to $101.00 and gave the company an “overweight” rating in a research report on Monday, January 12th. Sanford C. Bernstein reissued an “outperform” rating on shares of Trimble in a report on Wednesday. Zacks Research lowered Trimble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Piper Sandler reaffirmed an “overweight” rating and set a $97.00 price target on shares of Trimble in a research report on Friday, November 7th. Finally, KeyCorp raised Trimble from a “sector weight” rating to an “overweight” rating and set a $99.00 price objective for the company in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Trimble has a consensus rating of “Moderate Buy” and an average price target of $93.33.

Trimble Stock Up 0.6%

TRMB stock opened at $66.40 on Thursday. The stock has a market cap of $15.80 billion, a P/E ratio of 37.94, a P/E/G ratio of 2.28 and a beta of 1.59. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24. The stock’s fifty day simple moving average is $75.31 and its two-hundred day simple moving average is $78.71. Trimble has a 1-year low of $52.91 and a 1-year high of $87.50.

Trimble (NASDAQ:TRMB) last released its earnings results on Tuesday, February 10th. The scientific and technical instruments company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. The company had revenue of $969.80 million for the quarter, compared to analysts’ expectations of $949.97 million. Trimble had a return on equity of 11.18% and a net margin of 11.82%.The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.89 EPS. Trimble has set its FY 2026 guidance at 3.420-3.620 EPS and its Q1 2026 guidance at 0.690-0.740 EPS. Analysts expect that Trimble will post 2.37 EPS for the current year.

Trimble declared that its board has approved a share repurchase plan on Friday, December 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the scientific and technical instruments company to repurchase up to 5.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Phillip Sawarynski sold 2,250 shares of Trimble stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $80.45, for a total transaction of $181,012.50. Following the completion of the sale, the chief financial officer owned 25,684 shares of the company’s stock, valued at approximately $2,066,277.80. This trade represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert G. Painter sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $80.88, for a total value of $606,600.00. Following the completion of the sale, the chief executive officer directly owned 34,397 shares in the company, valued at approximately $2,782,029.36. The trade was a 17.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 17,866 shares of company stock worth $1,448,543. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Trimble

A number of hedge funds have recently made changes to their positions in TRMB. Salomon & Ludwin LLC purchased a new stake in shares of Trimble in the 3rd quarter valued at $25,000. Rothschild Investment LLC lifted its stake in Trimble by 193.6% in the fourth quarter. Rothschild Investment LLC now owns 323 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 213 shares during the last quarter. Toth Financial Advisory Corp purchased a new stake in Trimble during the fourth quarter valued at about $27,000. Bank of Jackson Hole Trust bought a new position in shares of Trimble during the fourth quarter valued at about $27,000. Finally, Root Financial Partners LLC purchased a new position in shares of Trimble in the third quarter worth about $30,000. 93.21% of the stock is owned by institutional investors.

About Trimble

Trimble Inc (NASDAQ: TRMB) is a technology company that develops hardware, software and services to improve the productivity and connectivity of customers across the construction, agriculture, geospatial, transportation and logistics, and natural resources sectors. The company’s offerings center on advanced positioning technologies — including GNSS/GPS receivers, inertial sensors and laser scanning — integrated with application-specific software and cloud services to enable precise measurement, modeling, machine control and workflow automation for field and office operations.

Trimble’s product portfolio spans surveying and geospatial instruments (total stations, mobile mapping and terrestrial laser scanners), construction solutions (machine control systems, site positioning and estimating), agriculture systems (auto-steer, guidance and application-control platforms), and fleet and transportation telematics.