Trimble (NASDAQ:TRMB) Given New $84.00 Price Target at Piper Sandler

Trimble (NASDAQ:TRMB) had its price objective boosted by Piper Sandler from $73.00 to $84.00 in a research note issued to investors on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the scientific and technical instruments company’s stock.

Other analysts have also recently issued reports about the company. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their price target on shares of Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Robert W. Baird raised their price objective on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Oppenheimer reissued an “outperform” rating and set a $72.00 target price on shares of Trimble in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Trimble presently has an average rating of “Moderate Buy” and a consensus price target of $75.40.

Trimble Price Performance

TRMB stock traded up $0.51 during trading on Thursday, hitting $72.65. 1,300,123 shares of the stock traded hands, compared to its average volume of 1,348,144. The stock has a market cap of $17.74 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 3.23 and a beta of 1.49. Trimble has a one year low of $40.79 and a one year high of $73.17. The company has a current ratio of 1.16, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24. The company has a 50 day simple moving average of $60.14 and a 200 day simple moving average of $57.39.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Trimble had a net margin of 40.67% and a return on equity of 10.18%. The firm had revenue of $870.80 million for the quarter, compared to analyst estimates of $862.50 million. During the same quarter in the prior year, the firm earned $0.51 EPS. The company’s revenue was down 12.4% on a year-over-year basis. Equities analysts expect that Trimble will post 2.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Trimble

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its position in shares of Trimble by 21.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 32,631 shares of the scientific and technical instruments company’s stock worth $2,026,000 after purchasing an additional 5,660 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Trimble in the third quarter valued at approximately $1,963,000. Claro Advisors LLC acquired a new position in Trimble in the 3rd quarter valued at about $237,000. Mizuho Securities USA LLC raised its holdings in shares of Trimble by 361.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 86,836 shares of the scientific and technical instruments company’s stock worth $5,392,000 after buying an additional 68,005 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of Trimble by 3.4% during the 3rd quarter. Empowered Funds LLC now owns 5,802 shares of the scientific and technical instruments company’s stock valued at $360,000 after purchasing an additional 193 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

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.