Trimble (NASDAQ:TRMB) Given New $66.00 Price Target at JPMorgan Chase & Co.

Trimble (NASDAQ:TRMB) had its target price boosted by equities research analysts at JPMorgan Chase & Co. from $58.00 to $66.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the scientific and technical instruments company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 12.69% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Piper Sandler restated an “overweight” rating and set a $73.00 price target on shares of Trimble in a research note on Monday, August 19th. Oppenheimer restated an “outperform” rating and set a $72.00 price target on shares of Trimble in a research note on Wednesday, August 7th. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, Robert W. Baird upped their price target on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.67.

Trimble Trading Down 2.7 %

Shares of Trimble stock opened at $58.57 on Thursday. The firm has a market capitalization of $14.30 billion, a price-to-earnings ratio of 61.01, a PEG ratio of 2.63 and a beta of 1.48. Trimble has a fifty-two week low of $39.57 and a fifty-two week high of $65.55. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99. The stock has a 50 day moving average of $55.32 and a 200 day moving average of $57.50.

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

Institutional Trading of Trimble

A number of hedge funds and other institutional investors have recently bought and sold shares of TRMB. Generation Investment Management LLP raised its stake in Trimble by 89.5% in the fourth quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company’s stock valued at $652,787,000 after buying an additional 5,796,030 shares in the last quarter. Victory Capital Management Inc. raised its stake in Trimble by 1,387.6% in the second quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock valued at $215,176,000 after buying an additional 3,589,249 shares in the last quarter. Norges Bank acquired a new stake in Trimble in the fourth quarter valued at $132,319,000. AQR Capital Management LLC raised its stake in Trimble by 2,035.1% in the second quarter. AQR Capital Management LLC now owns 1,146,995 shares of the scientific and technical instruments company’s stock valued at $63,635,000 after buying an additional 1,093,275 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in Trimble by 25.4% in the first quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock valued at $164,087,000 after buying an additional 516,789 shares in 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.