JPMorgan Chase & Co. upgraded shares of Trimble (NASDAQ:TRMB) from a neutral rating to an overweight rating in a research note released on Thursday, Marketbeat reports. They currently have $40.00 price target on the scientific and technical instruments company’s stock, down from their previous price target of $41.00.
A number of other brokerages have also recently issued reports on TRMB. BidaskClub upgraded shares of Trimble from a sell rating to a hold rating in a research note on Friday, September 14th. ValuEngine upgraded shares of Trimble from a hold rating to a buy rating in a research note on Wednesday, September 12th. Zacks Investment Research cut shares of Trimble from a buy rating to a hold rating in a research note on Tuesday, October 16th. Finally, Robert W. Baird upped their target price on shares of Trimble from $44.00 to $47.00 and gave the company an outperform rating in a research note on Friday, November 2nd. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Trimble currently has a consensus rating of Buy and an average price target of $42.50.
Trimble stock traded down $0.09 during mid-day trading on Thursday, reaching $35.21. The stock had a trading volume of 867,500 shares, compared to its average volume of 949,300. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of 27.51, a PEG ratio of 1.77 and a beta of 2.24. Trimble has a one year low of $29.75 and a one year high of $45.70. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.08 and a quick ratio of 0.79.
Trimble (NASDAQ:TRMB) last announced its quarterly earnings results on Thursday, November 1st. The scientific and technical instruments company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.03). The firm had revenue of $804.70 million during the quarter, compared to the consensus estimate of $806.12 million. Trimble had a return on equity of 16.21% and a net margin of 5.32%. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 EPS. On average, equities analysts expect that Trimble will post 1.67 EPS for the current fiscal year.
In other Trimble news, insider James A. Kirkland sold 14,292 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $39.37, for a total transaction of $562,676.04. Following the transaction, the insider now owns 51,436 shares in the company, valued at approximately $2,025,035.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert G. Painter sold 750 shares of the company’s stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $38.87, for a total transaction of $29,152.50. Following the transaction, the chief financial officer now owns 10,888 shares in the company, valued at approximately $423,216.56. The disclosure for this sale can be found here. Insiders have sold a total of 19,242 shares of company stock worth $744,907 in the last 90 days. Company insiders own 0.36% of the company’s stock.
Several large investors have recently modified their holdings of TRMB. Bank of New York Mellon Corp lifted its stake in shares of Trimble by 24,279.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,787,337 shares of the scientific and technical instruments company’s stock worth $164,597,000 after purchasing an additional 3,771,802 shares during the period. Capital International Investors lifted its stake in shares of Trimble by 38.2% in the 3rd quarter. Capital International Investors now owns 11,285,352 shares of the scientific and technical instruments company’s stock worth $490,461,000 after purchasing an additional 3,121,423 shares during the period. FMR LLC lifted its stake in shares of Trimble by 28.7% in the 2nd quarter. FMR LLC now owns 8,494,787 shares of the scientific and technical instruments company’s stock worth $278,969,000 after purchasing an additional 1,893,300 shares during the period. Select Equity Group L.P. lifted its stake in shares of Trimble by 95.0% in the 3rd quarter. Select Equity Group L.P. now owns 3,645,708 shares of the scientific and technical instruments company’s stock worth $158,442,000 after purchasing an additional 1,776,477 shares during the period. Finally, Capital World Investors bought a new position in shares of Trimble in the 3rd quarter worth approximately $65,199,000. Hedge funds and other institutional investors own 90.31% 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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