Trimble (NASDAQ:TRMB) Rating Increased to Equal Weight at Morgan Stanley

Trimble (NASDAQ:TRMBGet Rating) was upgraded by equities research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a report released on Monday, Briefing.com reports. The firm currently has a $67.00 price objective on the scientific and technical instruments company’s stock, down from their previous price objective of $70.00. Morgan Stanley’s price target would indicate a potential upside of 2.71% from the company’s current price.

TRMB has been the topic of a number of other reports. William Blair reissued an “outperform” rating on shares of Trimble in a report on Thursday, May 5th. Robert W. Baird cut their target price on shares of Trimble from $90.00 to $80.00 in a report on Friday, May 6th. StockNews.com started coverage on Trimble in a report on Thursday, March 31st. They set a “buy” rating for the company. Piper Sandler raised their price target on Trimble from $101.00 to $102.00 and gave the stock an “overweight” rating in a report on Thursday, February 10th. Finally, JPMorgan Chase & Co. lowered their price objective on Trimble from $79.00 to $77.00 and set a “neutral” rating for the company in a research note on Monday, March 28th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $84.50.

Shares of TRMB stock opened at $65.23 on Monday. The stock has a market capitalization of $16.32 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 2.13 and a beta of 1.53. Trimble has a one year low of $59.89 and a one year high of $96.49. The company’s 50-day simple moving average is $68.48 and its 200-day simple moving average is $74.71. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 1.26.

Trimble (NASDAQ:TRMBGet Rating) last issued its earnings results on Thursday, May 5th. The scientific and technical instruments company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. The company had revenue of $993.70 million during the quarter, compared to analyst estimates of $967.25 million. Trimble had a return on equity of 15.20% and a net margin of 12.97%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.58 EPS. As a group, research analysts forecast that Trimble will post 2.41 EPS for the current year.

In related news, Director Thomas W. Sweet bought 1,500 shares of the business’s stock in a transaction dated Monday, May 9th. The shares were bought at an average cost of $62.28 per share, with a total value of $93,420.00. Following the completion of the transaction, the director now directly owns 3,082 shares of the company’s stock, valued at $191,946.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Ronald Bisio sold 2,660 shares of the stock in a transaction on Friday, March 11th. The shares were sold at an average price of $65.98, for a total value of $175,506.80. The disclosure for this sale can be found here. 0.43% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. raised its stake in Trimble by 5.1% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,672 shares of the scientific and technical instruments company’s stock valued at $220,000 after purchasing an additional 130 shares during the period. Scotia Capital Inc. boosted its position in Trimble by 2.5% during the 3rd quarter. Scotia Capital Inc. now owns 5,590 shares of the scientific and technical instruments company’s stock worth $460,000 after acquiring an additional 137 shares during the period. Pallas Capital Advisors LLC grew its stake in Trimble by 2.5% during the 3rd quarter. Pallas Capital Advisors LLC now owns 6,107 shares of the scientific and technical instruments company’s stock valued at $538,000 after acquiring an additional 147 shares in the last quarter. First Republic Investment Management Inc. increased its holdings in shares of Trimble by 2.2% in the 3rd quarter. First Republic Investment Management Inc. now owns 6,859 shares of the scientific and technical instruments company’s stock valued at $564,000 after purchasing an additional 150 shares during the period. Finally, National Asset Management Inc. lifted its position in shares of Trimble by 2.4% in the third quarter. National Asset Management Inc. now owns 6,388 shares of the scientific and technical instruments company’s stock worth $526,000 after purchasing an additional 152 shares in the last quarter. 91.47% of the stock is currently owned by institutional investors and hedge funds.

About Trimble (Get Rating)

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 route selection and design; 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.

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