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

Trimble (NASDAQ:TRMB) had its price objective upped by research analysts at JPMorgan Chase & Co. from $66.00 to $74.00 in a research note issued to investors 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 suggests a potential upside of 2.95% from the company’s previous close.

Other equities analysts have also issued research reports about the company. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Robert W. Baird boosted their price target on Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Oppenheimer restated an “outperform” rating and set a $72.00 price target on shares of Trimble in a research note on Wednesday, August 7th. Finally, Piper Sandler boosted their price target on Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.20.

Trimble Stock Down 1.0 %

Shares of TRMB traded down $0.76 during trading hours on Thursday, hitting $71.88. The company had a trading volume of 667,898 shares, compared to its average volume of 1,343,496. The firm has a fifty day moving average price of $59.82 and a 200-day moving average price of $57.29. 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 market capitalization of $17.55 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 2.75 and a beta of 1.49. Trimble has a 52-week low of $40.79 and a 52-week high of $73.17.

Trimble (NASDAQ:TRMB) last issued its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The business had revenue of $870.80 million during the quarter, compared to analyst estimates of $862.50 million. During the same quarter in the previous year, the firm earned $0.51 EPS. Trimble’s revenue was down 12.4% on a year-over-year basis. On average, equities research analysts forecast that Trimble will post 2.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Trimble

Hedge funds and other institutional investors have recently made changes to their positions in the company. Farrow Financial Inc. boosted its position in Trimble by 0.5% during the third quarter. Farrow Financial Inc. now owns 39,062 shares of the scientific and technical instruments company’s stock valued at $2,425,000 after purchasing an additional 192 shares in the last quarter. Empowered Funds LLC boosted its position in Trimble by 3.4% during the third quarter. Empowered Funds LLC now owns 5,802 shares of the scientific and technical instruments company’s stock valued at $360,000 after purchasing an additional 193 shares in the last quarter. SVB Wealth LLC boosted its position in Trimble by 4.8% during the first quarter. SVB Wealth LLC now owns 4,445 shares of the scientific and technical instruments company’s stock valued at $286,000 after purchasing an additional 204 shares in the last quarter. Profund Advisors LLC boosted its position in Trimble by 4.6% during the second quarter. Profund Advisors LLC now owns 4,937 shares of the scientific and technical instruments company’s stock valued at $276,000 after purchasing an additional 219 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in Trimble by 5.8% in the third quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock valued at $247,000 after buying an additional 219 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.

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.