Trimble’s (TRMB) Hold Rating Reiterated at Craig Hallum

Craig Hallum reiterated their hold rating on shares of Trimble (NASDAQ:TRMB) in a report issued on Thursday morning, Briefing.com Automated Import reports. They currently have a $35.00 price objective on the scientific and technical instruments company’s stock, down from their previous price objective of $36.00.

Other equities analysts also recently issued research reports about the company. BidaskClub downgraded Trimble from a strong-buy rating to a buy rating in a research note on Tuesday, July 9th. ValuEngine upgraded Trimble from a hold rating to a buy rating in a research note on Tuesday, June 11th. Zacks Investment Research downgraded Trimble from a buy rating to a hold rating in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. downgraded Trimble from an overweight rating to a neutral rating and set a $46.00 price objective on the stock. in a research note on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $43.50.

TRMB stock traded up $0.28 during mid-day trading on Thursday, reaching $38.41. 1,734,197 shares of the company traded hands, compared to its average volume of 1,061,516. The firm has a market cap of $9.59 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 1.99 and a beta of 1.99. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.57. Trimble has a fifty-two week low of $29.75 and a fifty-two week high of $46.25. The company has a 50 day simple moving average of $44.11.

Trimble (NASDAQ:TRMB) last announced its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $0.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.48. Trimble had a return on equity of 15.96% and a net margin of 9.80%. The firm had revenue of $855.80 million for the quarter, compared to the consensus estimate of $864.69 million. During the same quarter in the previous year, the business earned $0.50 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. On average, equities analysts predict that Trimble will post 1.71 EPS for the current fiscal year.

In related news, Director Merit E. Janow sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $40.59, for a total value of $324,720.00. Following the transaction, the director now owns 30,362 shares in the company, valued at $1,232,393.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Ronald Bisio sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $42.41, for a total value of $254,460.00. Following the completion of the transaction, the vice president now owns 9,938 shares in the company, valued at approximately $421,470.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,230 shares of company stock worth $5,766,488. 0.39% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC raised its holdings in Trimble by 347.1% during the 2nd quarter. Advisory Services Network LLC now owns 760 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 590 shares during the period. Liberty Wealth Management LLC bought a new stake in Trimble during the 4th quarter valued at $36,000. Cornerstone Advisors Inc. raised its holdings in Trimble by 34.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 997 shares of the scientific and technical instruments company’s stock valued at $40,000 after acquiring an additional 258 shares during the period. Enterprise Financial Services Corp bought a new stake in Trimble during the 1st quarter valued at $163,000. Finally, First Mercantile Trust Co. bought a new stake in Trimble during the 1st quarter valued at $176,000. Institutional investors and hedge funds own 91.89% of the company’s stock.

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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