Trimble (NASDAQ:TRMB) Stock Rating Upgraded by Zacks Research

Trimble (NASDAQ:TRMB) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other analysts have also commented on the company. JPMorgan Chase & Co. raised their price objective on Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Trimble in a research note on Wednesday, October 8th. Barclays began coverage on shares of Trimble in a report on Tuesday, October 7th. They issued an “overweight” rating and a $100.00 price target for the company. Wall Street Zen raised shares of Trimble from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Raymond James Financial restated an “outperform” rating and set a $93.00 price target (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Trimble has a consensus rating of “Buy” and a consensus price target of $94.20.

Trimble Stock Performance

Shares of NASDAQ TRMB opened at $82.19 on Tuesday. The company has a market capitalization of $19.55 billion, a PE ratio of 70.85, a price-to-earnings-growth ratio of 3.26 and a beta of 1.66. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94. The company’s fifty day moving average price is $80.05 and its 200 day moving average price is $77.48. Trimble has a 1 year low of $52.91 and a 1 year high of $87.50.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share for the quarter. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The company had revenue of $856.50 million during the quarter. On average, research analysts predict that Trimble will post 2.37 earnings per share for the current year.

Insider Activity at Trimble

In other Trimble news, VP Christopher F. Keating sold 7,365 shares of Trimble stock in a transaction dated 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 sale, the vice president directly owned 406 shares in the company, valued at $33,186.44. This trade represents a 94.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Calvin Dalton sold 609 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director owned 13,809 shares in the company, valued at approximately $1,137,999.69. This represents a 4.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 17,192 shares of company stock worth $1,358,736. 0.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Trimble

Several institutional investors and hedge funds have recently modified their holdings of the company. Salomon & Ludwin LLC acquired a new position in Trimble in the 3rd quarter valued at about $25,000. Root Financial Partners LLC acquired a new stake in Trimble during the 3rd quarter worth approximately $30,000. Hantz Financial Services Inc. boosted its position in Trimble by 90.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 372 shares of the scientific and technical instruments company’s stock valued at $30,000 after buying an additional 177 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in shares of Trimble during the second quarter worth $34,000. Finally, Global Retirement Partners LLC raised its stake in shares of Trimble by 78.7% in the third quarter. Global Retirement Partners LLC now owns 411 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 181 shares in the last quarter. Hedge funds and other 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.