Trimble (NASDAQ:TRMB) Stock Gets Price Target Reduction from Barclays

Trimble (NASDAQ:TRMB) had its price objective decreased by equities researchers at Barclays from $80.00 to $78.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the scientific and technical instruments company’s stock. Barclays‘s price objective indicates a potential upside of 41.92% from the company’s current price.

Several other brokerages have also commented on TRMB. Wells Fargo & Company dropped their price target on Trimble from $61.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday. Loop Capital assumed coverage on Trimble in a research note on Monday, October 26th. They issued a “buy” rating and a $76.00 price objective on the stock. Wall Street Zen cut Trimble from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings raised shares of Trimble from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Finally, Sanford C. Bernstein dropped their target price on shares of Trimble from $85.00 to $73.00 and set an “outperform” rating for the company in a research report on Thursday, August 13th. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.22.

Trimble Trading Up 1.6%

Shares of NASDAQ TRMB traded up $0.85 during trading on Monday, hitting $54.96. 316,899 shares of the company traded hands, compared to its average volume of 2,520,750. The firm has a market capitalization of $12.82 billion, a P/E ratio of -78.51, a P/E/G ratio of 1.75 and a beta of 1.32. The company has a quick ratio of 0.80, a current ratio of 0.93 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average price of $59.67 and a 200-day moving average price of $60.50. Trimble has a 1 year low of $47.92 and a 1 year high of $84.42.

Trimble (NASDAQ:TRMB) last issued its earnings results on Wednesday, November 4th. The scientific and technical instruments company reported $0.86 earnings per share for the quarter, hitting the consensus estimate of $0.86. Trimble had a positive return on equity of 12.73% and a negative net margin of 4.08%. The business had revenue of $966.80 million for the quarter, compared to analyst estimates of $966.41 million. During the same period last year, the company posted $0.81 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities analysts predict that Trimble will post 3.10 EPS for the current year.

Insider Activity

In related news, Director Kaigham Gabriel sold 2,476 shares of the firm’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $65.00, for a total transaction of $160,940.00. Following the sale, the director directly owned 14,950 shares in the company, valued at approximately $971,750. This trade represents a 14.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.59% of the company’s stock.

Hedge Funds Weigh In On Trimble

A number of institutional investors and hedge funds have recently bought and sold shares of TRMB. BlackRock Inc. purchased a new stake in shares of Trimble during the second quarter valued at approximately $1,096,304,000. Generation Investment Management LLP purchased a new position in shares of Trimble in the second quarter valued at $367,994,000. Primecap Management Co. CA purchased a new position in shares of Trimble in the second quarter valued at $200,405,000. Legal & General Group Plc purchased a new position in shares of Trimble in the second quarter valued at $112,613,000. Finally, Hsbc Holdings PLC acquired a new stake in Trimble during the 2nd quarter valued at $109,046,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Company Profile

Trimble Inc develops technology that connects the physical and digital worlds to help customers plan, build, and manage infrastructure and other assets. Its offerings combine positioning technologies, hardware, software, and data services for industries including construction, geospatial, transportation, and agriculture.

Products and services include GNSS and surveying equipment, machine-control systems, mapping and measurement tools, and software for design, project management, fleet operations, and asset tracking.