Trimble (NASDAQ:TRMB) Rating Lowered to “Hold” at StockNews.com

Trimble (NASDAQ:TRMB) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Several other brokerages also recently weighed in on TRMB. Cfra raised Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 target price for the company in a research report on Thursday, February 20th. Oppenheimer upped their price target on Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, Piper Sandler reiterated an “overweight” rating and set a $84.00 price objective on shares of Trimble in a research note on Thursday. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $86.00.

Trimble Stock Up 1.1 %

TRMB opened at $68.12 on Thursday. Trimble has a 1 year low of $48.65 and a 1 year high of $77.78. The firm has a 50 day moving average price of $63.87 and a 200 day moving average price of $68.98. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. The company has a market cap of $16.25 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The company had revenue of $840.60 million during the quarter, compared to analyst estimates of $810.45 million. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. Sell-side analysts expect that Trimble will post 2.37 earnings per share for the current year.

Insider Buying and Selling

In other Trimble news, Director James Calvin Dalton sold 2,141 shares of Trimble stock in a transaction on Monday, February 24th. The shares were sold at an average price of $71.79, for a total value of $153,702.39. Following the completion of the transaction, the director now owns 10,162 shares of the company’s stock, valued at $729,529.98. The trade was a 17.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Christopher F. Keating sold 5,709 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $72.00, for a total transaction of $411,048.00. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Trimble

A number of institutional investors have recently modified their holdings of the business. Crowley Wealth Management Inc. bought a new position in Trimble in the fourth quarter worth about $28,000. Rialto Wealth Management LLC acquired a new position in Trimble during the 4th quarter valued at approximately $35,000. SBI Securities Co. Ltd. bought a new position in Trimble during the 4th quarter worth $36,000. Central Pacific Bank Trust Division increased its position in Trimble by 174.9% in the first quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company’s stock worth $37,000 after buying an additional 355 shares during the period. Finally, Larson Financial Group LLC lifted its stake in Trimble by 164.8% in the fourth quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company’s stock valued at $48,000 after buying an additional 422 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.

Trimble Company Profile

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.