Trimble (NASDAQ:TRMB) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Wednesday, September 12th.
Several other analysts have also recently commented on the stock. Goldman Sachs Group cut shares of Trimble from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, June 6th. Edward Jones upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Friday, June 1st. Zacks Investment Research cut shares of Trimble from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Finally, BidaskClub upgraded shares of Trimble from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 29th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Trimble currently has an average rating of “Buy” and a consensus target price of $42.00.
Shares of TRMB stock traded down $0.42 during mid-day trading on Wednesday, hitting $41.16. The stock had a trading volume of 1,103,700 shares, compared to its average volume of 1,274,886. Trimble has a fifty-two week low of $32.01 and a fifty-two week high of $45.70. The stock has a market capitalization of $10.86 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 2.59 and a beta of 2.42. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.54 and a current ratio of 1.93.
Trimble (NASDAQ:TRMB) last released its earnings results on Wednesday, August 1st. The scientific and technical instruments company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.05. Trimble had a net margin of 4.93% and a return on equity of 15.46%. The company had revenue of $785.50 million during the quarter, compared to analysts’ expectations of $776.31 million. During the same quarter last year, the business earned $0.38 EPS. The business’s revenue was up 19.0% on a year-over-year basis. Equities analysts forecast that Trimble will post 1.62 earnings per share for the current fiscal year.
In other news, SVP Sachin Sankpal sold 3,151 shares of Trimble stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $43.02, for a total transaction of $135,556.02. Following the completion of the sale, the senior vice president now directly owns 17,997 shares in the company, valued at $774,230.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Bryn Fosburgh sold 38,195 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $40.21, for a total transaction of $1,535,820.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,251 shares of company stock valued at $4,504,418. Insiders own 0.36% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank grew its holdings in Trimble by 1.6% in the second quarter. Swiss National Bank now owns 821,700 shares of the scientific and technical instruments company’s stock valued at $26,985,000 after purchasing an additional 13,300 shares during the period. Retirement Systems of Alabama grew its stake in Trimble by 0.5% during the second quarter. Retirement Systems of Alabama now owns 322,715 shares of the scientific and technical instruments company’s stock worth $10,598,000 after buying an additional 1,629 shares during the period. Bank of New York Mellon Corp grew its stake in Trimble by 3.9% during the second quarter. Bank of New York Mellon Corp now owns 5,557,677 shares of the scientific and technical instruments company’s stock worth $182,514,000 after buying an additional 207,766 shares during the period. State of Alaska Department of Revenue grew its stake in Trimble by 15.0% during the second quarter. State of Alaska Department of Revenue now owns 25,720 shares of the scientific and technical instruments company’s stock worth $844,000 after buying an additional 3,350 shares during the period. Finally, Unigestion Holding SA purchased a new stake in Trimble during the second quarter worth approximately $17,547,000. Hedge funds and other institutional investors own 90.04% of the company’s stock.
Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company operates in four segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; building information modeling software; integrated site layout and measurement systems; applications for sub-contractors and trades; integrated workplace management services software; capital program and facility management solutions; field based data collection systems; and communication systems and back-office software.
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