Trimble Inc. (NASDAQ:TRMB) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Trimble Inc. (NASDAQ:TRMB) have been assigned a consensus recommendation of “Buy” from the eight research firms that are presently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $90.75.

Several research firms have commented on TRMB. Raymond James Financial restated an “outperform” rating and issued a $93.00 price target (up previously from $85.00) on shares of Trimble in a research note on Thursday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of Trimble from $96.00 to $98.00 and gave the stock an “overweight” rating in a research note on Friday. Oppenheimer boosted their price target on shares of Trimble from $88.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th.

Insider Activity

In related news, VP Christopher F. Keating sold 7,365 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $81.74, for a total transaction of $602,015.10. Following the completion of the transaction, the vice president owned 406 shares in the company, valued at approximately $33,186.44. The trade was a 94.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James Calvin Dalton sold 609 shares of the business’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $82.41, for a total transaction of $50,187.69. Following the transaction, the director owned 13,809 shares of the company’s stock, valued at approximately $1,137,999.69. The trade was a 4.22% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 230,357 shares of company stock valued at $19,181,521. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Trimble

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Trimble by 2.0% during the first quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company’s stock worth $1,988,450,000 after purchasing an additional 582,124 shares in the last quarter. State Street Corp grew its stake in shares of Trimble by 2.6% during the second quarter. State Street Corp now owns 10,908,124 shares of the scientific and technical instruments company’s stock worth $828,799,000 after purchasing an additional 273,320 shares in the last quarter. Generation Investment Management LLP lifted its position in Trimble by 19.1% in the second quarter. Generation Investment Management LLP now owns 9,019,663 shares of the scientific and technical instruments company’s stock valued at $685,314,000 after acquiring an additional 1,449,315 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Trimble by 26.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,978,106 shares of the scientific and technical instruments company’s stock valued at $458,113,000 after acquiring an additional 1,445,851 shares in the last quarter. Finally, Boston Partners boosted its stake in Trimble by 14.4% in the second quarter. Boston Partners now owns 4,170,179 shares of the scientific and technical instruments company’s stock valued at $318,285,000 after acquiring an additional 525,214 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Stock Down 0.8%

Shares of NASDAQ TRMB opened at $82.15 on Tuesday. The firm has a market cap of $19.55 billion, a price-to-earnings ratio of 70.82, a PEG ratio of 3.40 and a beta of 1.66. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. Trimble has a 52-week low of $52.91 and a 52-week high of $87.50. The business’s 50 day moving average is $82.07 and its two-hundred day moving average is $73.26.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.63 by $0.08. The business had revenue of $875.70 million during the quarter, compared to the consensus estimate of $835.81 million. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Research analysts predict that Trimble will post 2.37 EPS for the current 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's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.