Trimble (NASDAQ:TRMB) Price Target Cut to $61.00 by Analysts at Wells Fargo & Company

Trimble (NASDAQ:TRMB) had its target price dropped by stock analysts at Wells Fargo & Company from $70.00 to $61.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the scientific and technical instruments company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 16.66% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on Trimble from $88.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday. Wall Street Zen upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Barclays reduced their price target on Trimble from $103.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, May 29th. Weiss Ratings lowered Trimble from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Finally, Zacks Research cut Trimble from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Trimble has an average rating of “Moderate Buy” and an average target price of $83.78.

Trimble Trading Down 1.0%

NASDAQ TRMB opened at $52.29 on Tuesday. Trimble has a 52 week low of $47.92 and a 52 week high of $87.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 1.01. The stock’s 50 day moving average price is $54.10 and its two-hundred day moving average price is $64.14. The stock has a market capitalization of $12.19 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 1.77 and a beta of 1.38.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Wednesday, May 6th. The scientific and technical instruments company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.07. The company had revenue of $939.90 million during the quarter, compared to analysts’ expectations of $905.60 million. Trimble had a net margin of 12.38% and a return on equity of 11.61%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the business earned $0.61 EPS. Trimble has set its Q2 2026 guidance at 0.780-0.820 EPS and its FY 2026 guidance at 3.470-3.640 EPS. As a group, analysts anticipate that Trimble will post 2.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Trimble

In other news, VP Mark David Schwartz sold 16,725 shares of the business’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $67.01, for a total transaction of $1,120,742.25. Following the sale, the vice president directly owned 19,668 shares in the company, valued at approximately $1,317,952.68. The trade was a 45.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.59% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trimble

Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in Trimble by 126.0% during the fourth quarter. Wellington Management Group LLP now owns 6,199,706 shares of the scientific and technical instruments company’s stock worth $485,747,000 after buying an additional 3,455,949 shares in the last quarter. Norges Bank purchased a new stake in shares of Trimble during the 4th quarter valued at approximately $213,133,000. Arrowstreet Capital Limited Partnership boosted its holdings in Trimble by 487.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,541,598 shares of the scientific and technical instruments company’s stock worth $100,558,000 after buying an additional 1,279,030 shares during the period. Ninety One UK Ltd bought a new stake in Trimble during the 4th quarter valued at $67,741,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Trimble by 487.9% in the first quarter. Renaissance Technologies LLC now owns 946,744 shares of the scientific and technical instruments company’s stock worth $61,756,000 after acquiring an additional 785,700 shares during the period. Institutional investors and hedge funds own 93.21% of the company’s stock.

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.