Trimble (NASDAQ:TRMB) Coverage Initiated at Piper Sandler

Investment analysts at Piper Sandler initiated coverage on shares of Trimble (NASDAQ:TRMB) in a report issued on Thursday, The Fly reports. The firm set an “overweight” rating on the scientific and technical instruments company’s stock.

Separately, Morgan Stanley lowered shares of Trimble from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $80.00 to $74.00 in a research note on Thursday, September 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $69.20.

Shares of TRMB stock traded up $2.49 on Thursday, hitting $83.58. 42,408 shares of the stock traded hands, compared to its average volume of 1,569,961. The firm’s 50-day moving average price is $89.22 and its two-hundred day moving average price is $83.43. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.02 and a current ratio of 1.28. The stock has a market capitalization of $21.03 billion, a PE ratio of 40.77, a PEG ratio of 4.32 and a beta of 1.53. Trimble has a twelve month low of $47.19 and a twelve month high of $96.49.

Trimble (NASDAQ:TRMB) last posted its earnings results on Wednesday, August 4th. The scientific and technical instruments company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.12. Trimble had a net margin of 15.01% and a return on equity of 15.69%. The company had revenue of $945.30 million for the quarter, compared to analysts’ expectations of $870.23 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. Trimble’s revenue for the quarter was up 28.6% compared to the same quarter last year. On average, equities research analysts anticipate that Trimble will post 2.17 EPS for the current fiscal year.

In other news, VP Bryn Fosburgh sold 3,260 shares of the firm’s stock in a transaction on Thursday, September 9th. The stock was sold at an average price of $93.65, for a total value of $305,299.00. Following the completion of the transaction, the vice president now owns 5,153 shares in the company, valued at $482,578.45. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Darryl R. Matthews sold 15,000 shares of the firm’s stock in a transaction on Thursday, August 5th. The shares were sold at an average price of $88.86, for a total value of $1,332,900.00. Following the completion of the transaction, the senior vice president now owns 17,307 shares of the company’s stock, valued at approximately $1,537,900.02. The disclosure for this sale can be found here. Insiders sold 323,510 shares of company stock valued at $29,236,572 over the last ninety days. 0.48% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of TRMB. First Trust Advisors LP boosted its stake in Trimble by 20.8% in the 1st quarter. First Trust Advisors LP now owns 20,141 shares of the scientific and technical instruments company’s stock worth $814,000 after buying an additional 3,465 shares during the last quarter. Brinker Capital Investments LLC acquired a new stake in Trimble in the 1st quarter worth about $517,000. E Fund Management Co. Ltd. acquired a new stake in Trimble in the 1st quarter worth about $264,000. Panagora Asset Management Inc. boosted its stake in Trimble by 41.6% in the 1st quarter. Panagora Asset Management Inc. now owns 5,606 shares of the scientific and technical instruments company’s stock worth $436,000 after buying an additional 1,648 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Trimble by 174.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,290,046 shares of the scientific and technical instruments company’s stock valued at $100,353,000 after purchasing an additional 820,123 shares in the last quarter. Hedge funds and other institutional investors own 90.08% of the company’s stock.

About Trimble

Trimble, Inc engages in the provision of positioning technology solutions. It operates through the following segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment serves architects, engineers, contractors, owners, and operators.

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