BidaskClub upgraded shares of Trimble (NASDAQ:TRMB) from a sell rating to a hold rating in a research note released on Friday morning.
Several other research firms have also recently weighed in on TRMB. ValuEngine raised Trimble from a hold rating to a buy rating in a report on Wednesday, September 12th. Zacks Investment Research cut Trimble from a buy rating to a hold rating in a report on Tuesday, August 7th. Goldman Sachs Group cut Trimble from a conviction-buy rating to a buy rating in a report on Wednesday, June 6th. Finally, Edward Jones raised Trimble from a hold rating to a buy rating in a report on Wednesday, May 23rd. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Trimble presently has a consensus rating of Buy and an average price target of $42.38.
NASDAQ:TRMB opened at $44.11 on Friday. Trimble has a twelve month low of $32.01 and a twelve month high of $45.70. The stock has a market capitalization of $10.82 billion, a price-to-earnings ratio of 34.46, a price-to-earnings-growth ratio of 2.58 and a beta of 2.47. 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 quarterly earnings results on Wednesday, August 1st. The scientific and technical instruments company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.05. Trimble had a return on equity of 15.46% and a net margin of 4.93%. The firm had revenue of $785.50 million for the quarter, compared to analysts’ expectations of $776.31 million. During the same quarter last year, the firm posted $0.38 EPS. The company’s revenue was up 19.0% compared to the same quarter last year. research analysts expect that Trimble will post 1.62 earnings per share for the current fiscal year.
In other news, VP Bryn Fosburgh sold 38,195 shares of the stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $40.21, for a total transaction of $1,535,820.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Robert G. Painter sold 1,500 shares of the stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $34.33, for a total value of $51,495.00. Following the transaction, the chief financial officer now owns 13,888 shares in the company, valued at $476,775.04. The disclosure for this sale can be found here. Insiders have sold a total of 111,251 shares of company stock worth $4,504,418 over the last quarter. Corporate insiders own 1.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in TRMB. Whittier Trust Co. bought a new position in Trimble during the 2nd quarter worth approximately $102,000. Psagot Investment House Ltd. bought a new position in Trimble during the 2nd quarter worth approximately $118,000. Korea Investment CORP bought a new position in Trimble during the 2nd quarter worth approximately $131,000. TLP Group LLC grew its position in Trimble by 22,096.2% during the 1st quarter. TLP Group LLC now owns 5,771 shares of the scientific and technical instruments company’s stock worth $207,000 after acquiring an additional 5,745 shares during the last quarter. Finally, Argent Trust Co bought a new position in Trimble during the 2nd quarter worth approximately $214,000. Hedge funds and other institutional investors own 90.00% 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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