Trimble (NASDAQ:TRMB) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Trimble (NASDAQ:TRMB) from a buy rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

TRMB has been the topic of a number of other research reports. JPMorgan Chase & Co. dropped their target price on shares of Trimble from $75.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, November 5th. Piper Sandler reissued an “overweight” rating and issued a $87.00 price target on shares of Trimble in a report on Thursday, August 13th. Oppenheimer decreased their price target on shares of Trimble from $80.00 to $73.00 and set an “outperform” rating on the stock in a research report on Thursday. Barclays boosted their price objective on shares of Trimble from $79.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Finally, Raymond James Financial lowered shares of Trimble from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $78.22.

Trimble Stock Up 1.1%

TRMB stock opened at $54.68 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.93 and a quick ratio of 0.82. Trimble has a 52-week low of $47.92 and a 52-week high of $84.42. The company has a 50-day moving average of $59.54 and a two-hundred day moving average of $60.42. The stock has a market capitalization of $12.75 billion, a price-to-earnings ratio of -78.11, a price-to-earnings-growth ratio of 1.75 and a beta of 1.32.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Wednesday, November 4th. The scientific and technical instruments company reported $0.86 EPS for the quarter, hitting analysts’ consensus estimates 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 in the previous year, the company posted $0.81 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts anticipate 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 company’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $65.00, for a total value of $160,940.00. Following the completion of the transaction, the director directly owned 14,950 shares in the company, valued at approximately $971,750. This represents a 14.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.59% of the company’s stock.

Institutional Investors Weigh In On Trimble

Several institutional investors and hedge funds have recently bought and sold shares of TRMB. Figure 8 Investment Strategies LLC acquired a new position in shares of Trimble in the 3rd quarter valued at $870,000. Hantz Financial Services Inc. increased its stake in Trimble by 19.0% in the third quarter. Hantz Financial Services Inc. now owns 5,550 shares of the scientific and technical instruments company’s stock valued at $317,000 after acquiring an additional 886 shares during the period. Danica Pension Livsforsikringsaktieselskab increased its stake in Trimble by 33.4% in the third quarter. Danica Pension Livsforsikringsaktieselskab now owns 670,817 shares of the scientific and technical instruments company’s stock valued at $38,310,000 after acquiring an additional 168,000 shares during the period. Allworth Financial LP raised its position in Trimble by 5.6% in the third quarter. Allworth Financial LP now owns 4,587 shares of the scientific and technical instruments company’s stock worth $262,000 after purchasing an additional 242 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in Trimble by 12.2% in the third quarter. Fifth Third Bancorp now owns 54,877 shares of the scientific and technical instruments company’s stock worth $3,134,000 after purchasing an additional 5,969 shares in the last quarter. 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.