JPMorgan Chase & Co. Increases Trimble (NASDAQ:TRMB) Price Target to $66.00

Trimble (NASDAQ:TRMB) had its target price increased by JPMorgan Chase & Co. from $58.00 to $66.00 in a research note released on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the scientific and technical instruments company’s stock.

TRMB has been the topic of several other research reports. Robert W. Baird increased 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. StockNews.com upgraded Trimble from a hold rating to a buy rating in a report on Thursday, September 12th. Piper Sandler reiterated an overweight rating and set a $73.00 target price on shares of Trimble in a report on Monday, August 19th. Finally, Oppenheimer restated an outperform rating and issued a $72.00 price target on shares of Trimble in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $66.67.

Trimble Stock Performance

TRMB stock opened at $58.57 on Thursday. Trimble has a twelve month low of $39.57 and a twelve month high of $65.55. The firm has a market cap of $14.30 billion, a price-to-earnings ratio of 61.01, a PEG ratio of 2.63 and a beta of 1.48. The business’s fifty day simple moving average is $55.34 and its two-hundred day simple moving average is $57.41. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. The company had revenue of $870.80 million for the quarter, compared to the consensus estimate of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The firm’s revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 EPS. Analysts predict that Trimble will post 2.22 earnings per share for the current year.

Institutional Trading of Trimble

Institutional investors have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Trimble during the 2nd quarter worth approximately $6,084,000. Sanctuary Advisors LLC purchased a new position in Trimble in the second quarter worth $419,000. Aristides Capital LLC acquired a new position in shares of Trimble during the second quarter worth $219,000. Truist Financial Corp lifted its holdings in shares of Trimble by 5.3% during the 2nd quarter. Truist Financial Corp now owns 43,879 shares of the scientific and technical instruments company’s stock valued at $2,454,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Quarry LP boosted its position in shares of Trimble by 4,988.6% in the 2nd quarter. Quarry LP now owns 2,239 shares of the scientific and technical instruments company’s stock worth $125,000 after purchasing an additional 2,195 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.

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.