Trimble (NASDAQ:TRMB) Lifted to “Buy” at BidaskClub

Trimble (NASDAQ:TRMB) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Wednesday, BidAskClub reports.

TRMB has been the topic of a number of other reports. ValuEngine lowered Trimble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. cut Trimble from an “overweight” rating to a “neutral” rating and set a $46.00 target price for the company. in a research note on Wednesday, July 10th. Finally, Craig Hallum reaffirmed a “hold” rating and set a $35.00 target price (down previously from $36.00) on shares of Trimble in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $42.33.

Shares of TRMB traded down $0.04 during trading hours on Wednesday, reaching $40.79. 817,200 shares of the company’s stock traded hands, compared to its average volume of 1,060,459. The firm has a market capitalization of $10.32 billion, a price-to-earnings ratio of 24.14, a P/E/G ratio of 3.26 and a beta of 2.03. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 0.73. Trimble has a twelve month low of $29.75 and a twelve month high of $46.25. The business’s fifty day simple moving average is $38.93 and its two-hundred day simple moving average is $40.57.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The company had revenue of $874.30 million for the quarter, compared to analyst estimates of $807.49 million. Trimble had a return on equity of 15.63% and a net margin of 9.97%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $0.49 earnings per share. On average, equities research analysts expect that Trimble will post 1.68 EPS for the current year.

In related news, SVP James A. Kirkland sold 2,700 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $38.01, for a total transaction of $102,627.00. Following the completion of the transaction, the senior vice president now owns 54,036 shares of the company’s stock, valued at $2,053,908.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven W. Berglund sold 308,575 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $40.18, for a total value of $12,398,543.50. Following the transaction, the chief executive officer now directly owns 640,605 shares of the company’s stock, valued at approximately $25,739,508.90. The disclosure for this sale can be found here. Insiders have sold 336,040 shares of company stock valued at $13,498,633 in the last ninety days. Company insiders own 0.39% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Mirova bought a new position in Trimble during the second quarter valued at about $1,166,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Trimble by 13.9% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 34,197 shares of the scientific and technical instruments company’s stock valued at $1,543,000 after buying an additional 4,169 shares in the last quarter. Congress Asset Management Co. MA boosted its stake in Trimble by 2.0% during the third quarter. Congress Asset Management Co. MA now owns 163,027 shares of the scientific and technical instruments company’s stock valued at $6,327,000 after buying an additional 3,177 shares in the last quarter. Invesco Ltd. boosted its stake in Trimble by 6.5% during the second quarter. Invesco Ltd. now owns 1,709,100 shares of the scientific and technical instruments company’s stock valued at $77,098,000 after buying an additional 104,615 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Trimble by 3.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,164,860 shares of the scientific and technical instruments company’s stock valued at $52,547,000 after buying an additional 40,670 shares in the last quarter. 90.18% of the stock is owned by institutional investors and hedge funds.

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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