Trimble Inc (TRMB) Given Average Rating of “Hold” by Brokerages

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Trimble Inc (NASDAQ:TRMB) has earned an average rating of “Hold” from the fourteen ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $42.38.

TRMB has been the subject of several analyst reports. Dougherty & Co downgraded Trimble from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 9th. BidaskClub downgraded Trimble from a “hold” rating to a “sell” rating in a research report on Saturday, February 24th. Berenberg Bank upgraded Trimble from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Tuesday, April 17th. Zacks Investment Research downgraded Trimble from a “buy” rating to a “hold” rating in a research report on Wednesday, April 25th. Finally, Craig Hallum reiterated a “hold” rating and issued a $38.00 price objective (down previously from $40.00) on shares of Trimble in a research report on Tuesday, May 8th.

In other news, SVP Darryl R. Matthews sold 5,683 shares of Trimble stock in a transaction on Wednesday, April 11th. The stock was sold at an average price of $34.75, for a total value of $197,484.25. Following the completion of the sale, the senior vice president now directly owns 18,453 shares of the company’s stock, valued at approximately $641,241.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James A. Kirkland sold 7,200 shares of Trimble stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $34.96, for a total value of $251,712.00. Following the completion of the sale, the insider now directly owns 39,564 shares of the company’s stock, valued at $1,383,157.44. The disclosure for this sale can be found here. Insiders sold a total of 477,644 shares of company stock valued at $16,611,447 over the last three months. Insiders own 0.36% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRMB. Global X Management Co. LLC increased its stake in shares of Trimble by 61.4% in the 1st quarter. Global X Management Co. LLC now owns 2,732,209 shares of the scientific and technical instruments company’s stock valued at $98,032,000 after buying an additional 1,038,974 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Trimble by 107.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,973,352 shares of the scientific and technical instruments company’s stock worth $80,197,000 after purchasing an additional 1,023,051 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Trimble by 117.8% during the first quarter. Allianz Asset Management GmbH now owns 1,545,899 shares of the scientific and technical instruments company’s stock worth $55,467,000 after purchasing an additional 836,079 shares during the period. FIL Ltd grew its stake in shares of Trimble by 169.7% during the first quarter. FIL Ltd now owns 1,180,123 shares of the scientific and technical instruments company’s stock worth $42,343,000 after purchasing an additional 742,522 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Trimble during the first quarter worth $25,966,000. 88.80% of the stock is owned by institutional investors.

Shares of TRMB stock traded down $0.59 during mid-day trading on Monday, reaching $34.85. The stock had a trading volume of 1,333 shares, compared to its average volume of 1,379,533. The company has a current ratio of 0.98, a quick ratio of 0.73 and a debt-to-equity ratio of 0.28. Trimble has a one year low of $32.01 and a one year high of $45.70. The company has a market capitalization of $8.83 billion, a P/E ratio of 27.30, a P/E/G ratio of 2.42 and a beta of 2.44.

Trimble (NASDAQ:TRMB) last posted its earnings results on Monday, May 7th. The scientific and technical instruments company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.04. The business had revenue of $742.20 million during the quarter, compared to the consensus estimate of $730.66 million. Trimble had a return on equity of 14.28% and a net margin of 4.64%. Trimble’s revenue was up 21.6% on a year-over-year basis. During the same quarter last year, the company earned $0.33 EPS. sell-side analysts predict that Trimble will post 1.54 earnings per share for the current fiscal year.

About Trimble

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; integrated workplace management services software; capital program and facility management solutions; field based data collection systems; and communication systems and back-office software.

Analyst Recommendations for Trimble (NASDAQ:TRMB)

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