Trimble (NASDAQ:TRMB) Raised to Strong-Buy at Zacks Research

Trimble (NASDAQ:TRMB) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other research analysts have also weighed in on the company. Berenberg Bank set a $95.00 target price on Trimble and gave the stock a “buy” rating in a report on Friday, October 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $97.00 price objective on shares of Trimble in a report on Friday, November 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Trimble in a research report on Wednesday, October 8th. Wall Street Zen raised Trimble from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, JPMorgan Chase & Co. raised their price objective on Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $94.20.

Trimble Stock Down 6.3%

Shares of NASDAQ:TRMB traded down $5.17 during trading on Tuesday, hitting $77.02. 1,487,237 shares of the company were exchanged, compared to its average volume of 1,514,899. The stock has a market cap of $18.32 billion, a price-to-earnings ratio of 66.40, a P/E/G ratio of 3.26 and a beta of 1.66. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. Trimble has a fifty-two week low of $52.91 and a fifty-two week high of $87.50. The firm has a fifty day moving average price of $80.05 and a two-hundred day moving average price of $77.48.

Trimble (NASDAQ:TRMB) last released its earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share for the quarter. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The business had revenue of $856.50 million during the quarter. As a group, research analysts anticipate that Trimble will post 2.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Trimble news, Director Kaigham Gabriel sold 1,718 shares of Trimble stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $81.00, for a total transaction of $139,158.00. Following the transaction, the director owned 15,170 shares of the company’s stock, valued at $1,228,770. This trade represents a 10.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher F. Keating sold 7,365 shares of the firm’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $81.74, for a total value of $602,015.10. Following the sale, the vice president directly owned 406 shares of the company’s stock, valued at approximately $33,186.44. This represents a 94.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 17,192 shares of company stock valued at $1,358,736. 0.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Trimble

A number of hedge funds have recently modified their holdings of TRMB. Salomon & Ludwin LLC purchased a new stake in Trimble in the third quarter worth $25,000. Root Financial Partners LLC purchased a new stake in Trimble in the 3rd quarter worth about $30,000. Hantz Financial Services Inc. raised its stake in Trimble by 90.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 372 shares of the scientific and technical instruments company’s stock valued at $30,000 after acquiring an additional 177 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in Trimble during the second quarter valued at about $34,000. Finally, Global Retirement Partners LLC boosted its position in Trimble by 78.7% during the third quarter. Global Retirement Partners LLC now owns 411 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 181 shares during the period. Institutional investors own 93.21% 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'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.