JPMorgan Chase & Co. Lowers Trimble (NASDAQ:TRMB) to Neutral

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JPMorgan Chase & Co. downgraded shares of Trimble (NASDAQ:TRMB) from an overweight rating to a neutral rating in a research note released on Wednesday, Benzinga’s Daily Ratings Newsletter reports. The brokerage currently has $46.00 price target on the scientific and technical instruments company’s stock.

Several other analysts also recently issued reports on the stock. BidaskClub downgraded shares of Vertex Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, July 9th. ValuEngine raised shares of China Southern Airlines from a sell rating to a hold rating in a research note on Tuesday, June 11th. Finally, Zacks Investment Research downgraded shares of Haynes International from a hold rating to a sell rating in a research note on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $46.33.

NASDAQ TRMB opened at $44.28 on Wednesday. The company has a market capitalization of $11.05 billion, a PE ratio of 26.20, a P/E/G ratio of 2.29 and a beta of 2.03. Trimble has a 1 year low of $29.75 and a 1 year high of $46.25. The firm has a fifty day moving average of $43.02. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.05 and a quick ratio of 0.77.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $0.40 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The company had revenue of $804.50 million for the quarter, compared to analysts’ expectations of $808.58 million. Trimble had a return on equity of 16.15% and a net margin of 9.05%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 earnings per share. On average, sell-side analysts predict that Trimble will post 1.83 earnings per share for the current year.

In other Trimble news, Director Mark S. Peek sold 4,804 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $40.99, for a total transaction of $196,915.96. Following the sale, the director now directly owns 41,080 shares of the company’s stock, valued at approximately $1,683,869.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark S. Peek sold 15,000 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $40.00, for a total transaction of $600,000.00. Following the sale, the director now directly owns 48,074 shares in the company, valued at $1,922,960. The disclosure for this sale can be found here. Over the last three months, insiders have sold 158,750 shares of company stock worth $6,637,192. Company insiders own 0.39% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Trimble by 0.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 44,310 shares of the scientific and technical instruments company’s stock valued at $1,790,000 after acquiring an additional 240 shares in the last quarter. Cornerstone Advisors Inc. grew its holdings in shares of 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 in the last quarter. Conestoga Capital Advisors LLC grew its holdings in shares of Trimble by 3.2% during the 1st quarter. Conestoga Capital Advisors LLC now owns 12,844 shares of the scientific and technical instruments company’s stock valued at $519,000 after acquiring an additional 400 shares in the last quarter. Simmons Bank grew its holdings in shares of Trimble by 2.4% during the 1st quarter. Simmons Bank now owns 19,040 shares of the scientific and technical instruments company’s stock valued at $769,000 after acquiring an additional 450 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in shares of Trimble by 3.7% during the 1st quarter. DAVENPORT & Co LLC now owns 12,665 shares of the scientific and technical instruments company’s stock valued at $512,000 after acquiring an additional 454 shares in the last quarter. Institutional investors and hedge funds own 92.02% 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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