Trimble (NASDAQ:TRMB) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Tuesday, ValuEngine reports.
Other analysts also recently issued research reports about the company. BidaskClub upgraded Trimble from a “hold” rating to a “buy” rating in a report on Thursday, May 30th. Zacks Investment Research upgraded Trimble from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Thursday, April 11th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $44.33.
NASDAQ TRMB opened at $42.60 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 1.05. The stock has a market cap of $10.72 billion, a price-to-earnings ratio of 25.21, a P/E/G ratio of 2.20 and a beta of 2.02. Trimble has a 1 year low of $29.75 and a 1 year high of $44.55.
Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported $0.40 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. The firm had revenue of $804.50 million for the quarter, compared to the consensus estimate of $808.58 million. Trimble had a return on equity of 16.15% and a net margin of 9.05%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 EPS. On average, sell-side analysts expect that Trimble will post 1.84 earnings per share for the current year.
In other Trimble news, CEO Steven W. Berglund sold 100,000 shares of Trimble stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $42.15, for a total transaction of $4,215,000.00. Following the transaction, the chief executive officer now owns 354,144 shares of the company’s stock, valued at approximately $14,927,169.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert G. Painter sold 1,717 shares of Trimble stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $39.35, for a total value of $67,563.95. Following the transaction, the chief financial officer now directly owns 34,960 shares in the company, valued at approximately $1,375,676. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,884 shares of company stock worth $6,541,953. Corporate insiders own 0.39% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. ETRADE Capital Management LLC grew its stake in Trimble by 3.3% during the 4th quarter. ETRADE Capital Management LLC now owns 22,293 shares of the scientific and technical instruments company’s stock valued at $734,000 after acquiring an additional 718 shares in the last quarter. Impax Asset Management Group plc grew its stake in Trimble by 0.8% during the 4th quarter. Impax Asset Management Group plc now owns 5,559,309 shares of the scientific and technical instruments company’s stock valued at $182,957,000 after acquiring an additional 46,661 shares in the last quarter. Nordea Investment Management AB grew its stake in Trimble by 37.1% during the 4th quarter. Nordea Investment Management AB now owns 683,744 shares of the scientific and technical instruments company’s stock valued at $22,502,000 after acquiring an additional 184,974 shares in the last quarter. Raymond James & Associates grew its stake in Trimble by 14.6% during the 4th quarter. Raymond James & Associates now owns 39,764 shares of the scientific and technical instruments company’s stock valued at $1,309,000 after acquiring an additional 5,076 shares in the last quarter. Finally, Parnassus Investments CA grew its stake in Trimble by 41.6% during the 4th quarter. Parnassus Investments CA now owns 3,285,552 shares of the scientific and technical instruments company’s stock valued at $108,128,000 after acquiring an additional 964,512 shares in the last quarter. 92.11% of the stock is currently owned by institutional investors.
Trimble Company Profile
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; and integrated workplace management services software.
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