Wall Street Zen Downgrades Trimble (NASDAQ:TRMB) to Hold

Trimble (NASDAQ:TRMB) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday, Wall Street Zen reports.

Several other analysts also recently weighed in on the stock. Raymond James Financial downgraded shares of Trimble from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company reduced their price objective on Trimble from $70.00 to $61.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Piper Sandler reaffirmed an “overweight” rating and set a $87.00 target price on shares of Trimble in a research report on Thursday, August 13th. Oppenheimer reiterated an “outperform” rating and issued a $80.00 target price on shares of Trimble in a report on Tuesday, July 7th. Finally, Barclays increased their price target on Trimble from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.12.

Trimble Stock Up 2.2%

Shares of TRMB opened at $58.81 on Friday. The firm has a market capitalization of $13.71 billion, a P/E ratio of -120.02, a P/E/G ratio of 1.86 and a beta of 1.34. Trimble has a 12-month low of $47.92 and a 12-month high of $84.42. The company has a current ratio of 0.95, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. The firm has a fifty day moving average price of $58.44 and a 200-day moving average price of $58.25.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings results on Wednesday, August 12th. The scientific and technical instruments company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. Trimble had a negative net margin of 2.77% and a positive return on equity of 12.29%. The company had revenue of $972.00 million for the quarter, compared to the consensus estimate of $952.09 million. During the same quarter last year, the firm posted $0.71 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. Trimble has set its Q3 2026 guidance at 0.830-0.880 EPS and its FY 2026 guidance at 3.600-3.700 EPS. Equities research analysts expect that Trimble will post 3.1 earnings per share for the current year.

Insider Transactions at Trimble

In other Trimble news, Director Kaigham Gabriel sold 1,718 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $60.00, for a total transaction of $103,080.00. Following the sale, the director owned 17,426 shares of the company’s stock, valued at approximately $1,045,560. This trade represents a 8.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.59% of the company’s stock.

Institutional Investors Weigh In On Trimble

A number of hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its holdings in shares of Trimble by 29.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 347,691 shares of the scientific and technical instruments company’s stock valued at $17,795,000 after acquiring an additional 79,069 shares during the last quarter. OP Asset Management Ltd purchased a new position in shares of Trimble during the first quarter worth $2,891,000. Summit Partners Public Asset Management LLC acquired a new position in Trimble during the fourth quarter valued at $7,287,000. State Street Corp lifted its position in Trimble by 7.9% during the second quarter. State Street Corp now owns 11,644,706 shares of the scientific and technical instruments company’s stock valued at $595,976,000 after purchasing an additional 849,549 shares during the period. Finally, BlackRock Inc. purchased a new stake in Trimble in the second quarter valued at $1,096,304,000. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

About Trimble

Trimble Inc is a technology company that provides positioning, modeling, connectivity and data-management solutions for industries that rely on accurate location and operational information. Its offerings combine hardware, software and cloud-based services to help customers plan, measure, design, build, manage and maintain physical assets and infrastructure.

The company serves the construction, geospatial, transportation and logistics, agriculture, natural resources, utilities and government markets.