Trimble (NASDAQ:TRMB) Price Target Raised to $74.00 at JPMorgan Chase & Co.

Trimble (NASDAQ:TRMB) had its target price raised by JPMorgan Chase & Co. from $66.00 to $74.00 in a report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the scientific and technical instruments company’s stock.

A number of other research analysts also recently issued reports on TRMB. Robert W. Baird boosted their target price on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Piper Sandler upped their price target on Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Oppenheimer reissued an “outperform” rating and set a $72.00 price target on shares of Trimble in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Trimble presently has an average rating of “Moderate Buy” and an average price target of $75.40.

Trimble Trading Up 0.7 %

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

Trimble (NASDAQ:TRMB) last announced its quarterly earnings results 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 firm had revenue of $870.80 million during the quarter, compared to analysts’ expectations of $862.50 million. Trimble had a net margin of 40.67% and a return on equity of 10.18%. The company’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 EPS. On average, research analysts anticipate that Trimble will post 2.25 EPS for the current year.

Institutional Investors Weigh In On Trimble

Several institutional investors have recently modified their holdings of TRMB. Victory Capital Management Inc. raised its holdings in Trimble by 41.4% during the third quarter. Victory Capital Management Inc. now owns 5,442,653 shares of the scientific and technical instruments company’s stock worth $337,934,000 after purchasing an additional 1,594,732 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Trimble by 7.0% during the second quarter. Thrivent Financial for Lutherans now owns 3,647,641 shares of the scientific and technical instruments company’s stock worth $203,976,000 after acquiring an additional 239,673 shares during the period. Impax Asset Management Group plc lifted its position in shares of Trimble by 18.7% during the 3rd quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company’s stock valued at $169,978,000 after acquiring an additional 434,065 shares during the period. Lazard Asset Management LLC grew its stake in Trimble by 25.4% in the 1st 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 acquiring an additional 516,789 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Trimble by 24.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,839,180 shares of the scientific and technical instruments company’s stock worth $102,842,000 after purchasing an additional 361,421 shares in the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

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.