Trimble Inc. (NASDAQ:TRMB) Receives $86.00 Consensus Price Target from Brokerages

Shares of Trimble Inc. (NASDAQ:TRMB) have been assigned an average recommendation of “Buy” from the eight brokerages that are covering the stock, Marketbeat reports. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $86.00.

Several research firms have issued reports on TRMB. Cfra upgraded shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target on the stock in a research report on Thursday, February 20th. Wolfe Research upgraded shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a research report on Monday, December 16th. Robert W. Baird raised their price target on shares of Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Piper Sandler restated an “overweight” rating and issued a $84.00 price target on shares of Trimble in a research report on Wednesday, December 11th. Finally, StockNews.com lowered shares of Trimble from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 3rd.

Insider Activity

In other news, VP Jennifer Allison sold 3,571 shares of Trimble stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $74.75, for a total transaction of $266,932.25. Following the sale, the vice president now directly owns 3,157 shares in the company, valued at approximately $235,985.75. The trade was a 53.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Calvin Dalton sold 2,141 shares of Trimble stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $71.79, for a total transaction of $153,702.39. Following the transaction, the director now directly owns 10,162 shares of the company’s stock, valued at $729,529.98. This represents a 17.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,421 shares of company stock worth $831,683. Corporate insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Trimble

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Trimble by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 29,706,534 shares of the scientific and technical instruments company’s stock valued at $2,099,064,000 after purchasing an additional 183,150 shares during the last quarter. Select Equity Group L.P. lifted its holdings in Trimble by 22.4% during the 4th quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company’s stock valued at $717,506,000 after purchasing an additional 1,857,517 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Trimble by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 6,036,228 shares of the scientific and technical instruments company’s stock valued at $425,427,000 after purchasing an additional 138,136 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Trimble by 4.1% in the fourth quarter. Victory Capital Management Inc. now owns 5,665,332 shares of the scientific and technical instruments company’s stock worth $400,312,000 after acquiring an additional 222,679 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Trimble by 2.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,532,255 shares of the scientific and technical instruments company’s stock worth $390,909,000 after acquiring an additional 134,277 shares during the last quarter. 93.21% of the stock is owned by institutional investors.

Trimble Stock Performance

NASDAQ:TRMB opened at $66.49 on Friday. Trimble has a 1 year low of $48.65 and a 1 year high of $77.78. The firm’s fifty day simple moving average is $72.78 and its 200 day simple moving average is $67.78. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $16.34 billion, a PE ratio of 10.92, a PEG ratio of 3.09 and a beta of 1.57.

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.