Trimble Inc. (NASDAQ:TRMB) Receives Average Rating of “Hold” from Brokerages

Shares of Trimble Inc. (NASDAQ:TRMBGet Rating) have been given an average recommendation of “Hold” by the ten brokerages that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $65.00.

A number of brokerages have recently issued reports on TRMB. Piper Sandler decreased their target price on Trimble from $70.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, November 3rd. TheStreet lowered Trimble from a “b-” rating to a “c+” rating in a research report on Tuesday, October 11th. Robert W. Baird reduced their price target on Trimble from $70.00 to $65.00 in a research report on Thursday, November 3rd. StockNews.com lowered Trimble from a “buy” rating to a “hold” rating in a research report on Thursday, November 3rd. Finally, Oppenheimer reduced their price target on Trimble from $86.00 to $72.00 in a research report on Thursday, November 3rd.

Trimble Stock Up 2.9 %

TRMB opened at $55.79 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.99 and a quick ratio of 0.72. The stock has a market capitalization of $13.76 billion, a price-to-earnings ratio of 29.36, a price-to-earnings-growth ratio of 1.73 and a beta of 1.57. The business has a 50-day moving average of $54.57 and a two-hundred day moving average of $58.76. Trimble has a 12 month low of $47.52 and a 12 month high of $74.87.

Trimble (NASDAQ:TRMBGet Rating) last issued its earnings results on Wednesday, November 2nd. The scientific and technical instruments company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Trimble had a return on equity of 14.45% and a net margin of 12.80%. The firm had revenue of $884.90 million for the quarter, compared to analysts’ expectations of $910.81 million. On average, research analysts expect that Trimble will post 2.25 earnings per share for the current year.

Hedge Funds Weigh In On Trimble

A number of institutional investors have recently made changes to their positions in TRMB. Assenagon Asset Management S.A. raised its position in shares of Trimble by 2,428.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,040,789 shares of the scientific and technical instruments company’s stock valued at $118,835,000 after purchasing an additional 1,960,069 shares in the last quarter. Congress Asset Management Co. MA raised its position in shares of Trimble by 299.9% during the 2nd quarter. Congress Asset Management Co. MA now owns 1,820,578 shares of the scientific and technical instruments company’s stock valued at $106,012,000 after acquiring an additional 1,365,307 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Trimble by 30.4% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 2,744,617 shares of the scientific and technical instruments company’s stock valued at $148,950,000 after acquiring an additional 639,323 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of Trimble by 13,579.6% during the 1st quarter. Baird Financial Group Inc. now owns 465,379 shares of the scientific and technical instruments company’s stock valued at $33,572,000 after acquiring an additional 461,977 shares in the last quarter. Finally, Robeco Schweiz AG raised its position in shares of Trimble by 91.6% during the 1st quarter. Robeco Schweiz AG now owns 842,428 shares of the scientific and technical instruments company’s stock valued at $60,773,000 after acquiring an additional 402,852 shares in the last quarter. 89.49% of the stock is owned by institutional investors and hedge funds.

Trimble Company Profile

(Get Rating)

Trimble, Inc engages in the provision of positioning technology solutions. It operates through the following segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment serves architects, engineers, contractors, owners, and operators.

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