Trimble (NASDAQ:TRMB) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Trimble (NASDAQ:TRMB) from a buy rating to a hold rating in a report issued on Thursday.

A number of other research firms have also commented on TRMB. Cfra raised shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a research note on Thursday, February 20th. Oppenheimer lifted their price target on Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, Piper Sandler restated an “overweight” rating and set a $84.00 price objective on shares of Trimble in a research report on Thursday. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $86.00.

Trimble Stock Performance

TRMB opened at $68.12 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. The firm has a market cap of $16.25 billion, a PE ratio of 11.19, a P/E/G ratio of 3.09 and a beta of 1.67. The business has a fifty day simple moving average of $63.87 and a 200-day simple moving average of $69.04. Trimble has a fifty-two week low of $48.65 and a fifty-two week high of $77.78.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Trimble had a return on equity of 10.56% and a net margin of 40.84%. The firm had revenue of $840.60 million for the quarter, compared to analysts’ expectations of $810.45 million. During the same quarter last year, the business posted $0.64 EPS. Trimble’s revenue was down 11.8% on a year-over-year basis. As a group, equities analysts predict that Trimble will post 2.37 EPS for the current fiscal year.

Insider Activity at Trimble

In related news, VP Christopher F. Keating sold 5,709 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total value of $411,048.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James Calvin Dalton sold 2,141 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $71.79, for a total value of $153,702.39. Following the sale, the director now directly owns 10,162 shares of the company’s stock, valued at $729,529.98. The trade was a 17.40 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Institutional Trading of Trimble

A number of institutional investors and hedge funds have recently modified their holdings of TRMB. Headlands Technologies LLC grew its stake in Trimble by 383.2% in the 1st quarter. Headlands Technologies LLC now owns 11,128 shares of the scientific and technical instruments company’s stock valued at $731,000 after buying an additional 8,825 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Trimble by 9.6% in the first quarter. Deutsche Bank AG now owns 1,830,853 shares of the scientific and technical instruments company’s stock worth $120,195,000 after purchasing an additional 160,737 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Trimble by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,113,260 shares of the scientific and technical instruments company’s stock worth $138,736,000 after purchasing an additional 32,632 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new stake in Trimble during the 1st quarter valued at approximately $2,048,000. Finally, Vanguard Group Inc. grew its holdings in Trimble by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company’s stock valued at $1,988,450,000 after buying an additional 582,124 shares during 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.