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

Shares of Trimble Inc. (NASDAQ:TRMB – Get 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:TRMB – Get 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

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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.