Trimble (NASDAQ:TRMB) Upgraded at Zacks Research

Zacks Research upgraded shares of Trimble (NASDAQ:TRMB) from a hold rating to a strong-buy rating in a report published on Tuesday,Zacks.com reports.

Several other analysts have also recently commented on TRMB. Berenberg Bank set a $95.00 target price on Trimble and gave the company a “buy” rating in a report on Friday, October 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Trimble in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on shares of Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Oppenheimer reiterated an “outperform” rating and set a $102.00 price objective on shares of Trimble in a research report on Thursday, November 6th. Finally, Raymond James Financial reissued an “outperform” rating and set a $93.00 target price (up previously from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $94.18.

Trimble Stock Performance

NASDAQ TRMB opened at $77.02 on Tuesday. The company has a market capitalization of $18.32 billion, a price-to-earnings ratio of 66.40, a PEG ratio of 3.26 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 twelve month low of $52.91 and a twelve month high of $87.50. The stock has a fifty day simple moving average of $79.99 and a 200 day simple moving average of $77.47.

Trimble (NASDAQ:TRMB) last announced its earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 EPS for the quarter. The firm had revenue of $856.50 million for the quarter. Trimble had a return on equity of 10.24% and a net margin of 8.02%. Sell-side analysts expect that Trimble will post 2.37 EPS for the current year.

Insider Activity at Trimble

In other news, Director Kaigham Gabriel sold 1,718 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $81.00, for a total value of $139,158.00. Following the completion of the sale, the director directly owned 15,170 shares in the company, valued at $1,228,770. This trade represents a 10.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James Calvin Dalton sold 609 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $82.41, for a total value of $50,187.69. Following the completion of the sale, the director directly owned 13,809 shares of the company’s stock, valued at $1,137,999.69. The trade was a 4.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 24,692 shares of company stock valued at $1,954,986. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Trimble

Several hedge funds and other institutional investors have recently modified their holdings of TRMB. Vanguard Group Inc. lifted its holdings in shares of Trimble by 2.0% in the 1st 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 raised its holdings in 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 buying an additional 273,320 shares during the last quarter. Generation Investment Management LLP lifted its stake in shares of 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 buying an additional 1,449,315 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Trimble by 26.1% during 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 buying an additional 1,445,851 shares during the last quarter. Finally, Boston Partners increased its position in shares of Trimble by 14.4% during the second quarter. Boston Partners now owns 4,170,179 shares of the scientific and technical instruments company’s stock worth $318,285,000 after acquiring an additional 525,214 shares in the last quarter. Institutional investors own 93.21% of the company’s stock.

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.