Shares of Trimble Inc (NASDAQ:TRMB) have been assigned a consensus rating of “Buy” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $43.50.
TRMB has been the subject of a number of research reports. BidaskClub upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. ValuEngine raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, Zacks Investment Research raised shares of Trimble from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Thursday, April 11th.
In related news, CFO Robert G. Painter sold 1,716 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $43.00, for a total transaction of $73,788.00. Following the sale, the chief financial officer now owns 31,527 shares of the company’s stock, valued at $1,355,661. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Steven W. Berglund sold 100,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $42.15, for a total transaction of $4,215,000.00. Following the sale, the chief executive officer now directly owns 354,144 shares in the company, valued at approximately $14,927,169.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 263,661 shares of company stock worth $10,794,124. 0.39% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. JOYN Advisors Inc. raised its stake in Trimble by 164.5% during the fourth quarter. JOYN Advisors Inc. now owns 902 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 561 shares in the last quarter. Lake Point Wealth Management purchased a new stake in shares of Trimble in the fourth quarter valued at $31,000. Liberty Wealth Management LLC purchased a new stake in shares of Trimble in the fourth quarter valued at $36,000. Cornerstone Advisors Inc. raised its stake in shares of Trimble by 34.9% in the first quarter. Cornerstone Advisors Inc. now owns 997 shares of the scientific and technical instruments company’s stock valued at $40,000 after acquiring an additional 258 shares during the period. Finally, AdvisorNet Financial Inc raised its stake in shares of Trimble by 128.5% in the first quarter. AdvisorNet Financial Inc now owns 1,067 shares of the scientific and technical instruments company’s stock valued at $43,000 after acquiring an additional 600 shares during the period. 91.25% of the stock is currently owned by institutional investors.
Shares of NASDAQ:TRMB traded down $0.29 during midday trading on Friday, reaching $40.50. 66,598 shares of the company were exchanged, compared to its average volume of 1,059,333. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 1.05. Trimble has a one year low of $29.75 and a one year high of $44.55. The firm has a market cap of $10.17 billion, a price-to-earnings ratio of 23.99, a P/E/G ratio of 2.08 and a beta of 2.15.
Trimble (NASDAQ:TRMB) last issued its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $0.40 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.40. Trimble had a net margin of 9.05% and a return on equity of 16.15%. The firm had revenue of $804.50 million during the quarter, compared to analyst estimates of $808.58 million. During the same quarter in the prior year, the business earned $0.44 earnings per share. Trimble’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, research analysts predict that Trimble will post 1.85 earnings per share for the current year.
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; and integrated workplace management services software.
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