Trimble (NASDAQ:TRMB) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report released on Saturday.
A number of other equities research analysts also recently issued reports on the company. Zacks Investment Research upgraded Trimble from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Tuesday, December 26th. Wells Fargo & Co boosted their price objective on Trimble from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Friday, October 27th. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price objective (up from $42.00) on shares of Trimble in a research note on Sunday, October 29th. Oppenheimer boosted their price objective on Trimble from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Finally, TheStreet downgraded Trimble from a “b” rating to a “c+” rating in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $42.10.
Shares of Trimble (NASDAQ TRMB) opened at $38.67 on Friday. The stock has a market capitalization of $9,624.85, a PE ratio of 82.28, a price-to-earnings-growth ratio of 2.30 and a beta of 2.38. Trimble has a 52 week low of $30.45 and a 52 week high of $45.70. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.29 and a current ratio of 1.63.
Trimble declared that its Board of Directors has initiated a share buyback plan on Wednesday, November 15th that authorizes the company to buyback $600.00 million in shares. This buyback authorization authorizes the scientific and technical instruments company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
In related news, CFO Robert G. Painter sold 6,946 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $40.00, for a total value of $277,840.00. Following the transaction, the chief financial officer now directly owns 15,451 shares of the company’s stock, valued at approximately $618,040. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Steven W. Berglund sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $39.25, for a total value of $7,850,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 422,941 shares of company stock valued at $16,696,928. 1.40% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Trillium Asset Management LLC lifted its holdings in Trimble by 40.4% in the 3rd quarter. Trillium Asset Management LLC now owns 54,353 shares of the scientific and technical instruments company’s stock worth $2,133,000 after purchasing an additional 15,646 shares in the last quarter. Vident Investment Advisory LLC lifted its holdings in Trimble by 60.3% in the 3rd quarter. Vident Investment Advisory LLC now owns 337,784 shares of the scientific and technical instruments company’s stock worth $13,258,000 after purchasing an additional 127,066 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Trimble in the 3rd quarter worth approximately $952,000. JPMorgan Chase & Co. lifted its holdings in Trimble by 22.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 370,304 shares of the scientific and technical instruments company’s stock worth $14,598,000 after purchasing an additional 68,984 shares in the last quarter. Finally, Armor Investment Advisors LLC purchased a new position in Trimble in the 4th quarter worth approximately $203,000. 89.78% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION NOTICE: “Trimble (TRMB) Stock Rating Lowered by BidaskClub” was first reported by Ticker Report and is the sole property of of Ticker Report. If you are viewing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.tickerreport.com/banking-finance/3222678/trimble-trmb-stock-rating-lowered-by-bidaskclub.html.
Trimble Company Profile
Trimble Inc, formerly Trimble Navigation Limited, is engaged in providing technology solutions that enable professionals and field mobile workers to transform their work processes. The Company’s solutions are used across a range of industries, including agriculture, architecture, civil engineering, survey and land administration, construction, geospatial, government, natural resources, transportation and utilities.
Receive News & Ratings for Trimble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trimble and related companies with MarketBeat.com's FREE daily email newsletter.