Trimble (NASDAQ:TRMB) Stock Gets Price Target Reduction from Barclays

Trimble (NASDAQ:TRMB) had its price target trimmed by Barclays from $80.00 to $78.00 in a report published on Monday morning,Benzinga reports. The firm currently has an overweight rating on the scientific and technical instruments company’s stock.

A number of other analysts also recently issued reports on TRMB. Wells Fargo & Company lowered their target price on Trimble from $61.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, November 5th. Oppenheimer lowered their price target on shares of Trimble from $80.00 to $73.00 and set an “outperform” rating on the stock in a report on Thursday, November 5th. JPMorgan Chase & Co. cut their price objective on shares of Trimble from $75.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, November 5th. Wall Street Zen downgraded shares of Trimble from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. Finally, Raymond James Financial cut Trimble from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Nine research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Trimble currently has an average rating of “Moderate Buy” and an average target price of $78.22.

Trimble Stock Up 3.2%

TRMB stock opened at $56.48 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.93 and a quick ratio of 0.80. The stock has a market capitalization of $12.95 billion, a P/E ratio of -80.68, a P/E/G ratio of 1.77 and a beta of 1.32. Trimble has a fifty-two week low of $47.92 and a fifty-two week high of $84.42. The business has a 50-day moving average of $59.39 and a 200-day moving average of $60.26.

Trimble (NASDAQ:TRMB) last announced its earnings results on Wednesday, November 4th. The scientific and technical instruments company reported $0.86 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.86. The business had revenue of $966.80 million for the quarter, compared to analyst estimates of $966.41 million. Trimble had a positive return on equity of 12.73% and a negative net margin of 4.08%. Trimble’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.81 EPS. On average, sell-side analysts anticipate that Trimble will post 3.10 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Trimble news, Director Kaigham Gabriel sold 2,476 shares of Trimble stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $65.00, for a total value of $160,940.00. Following the completion of the sale, the director directly owned 14,950 shares in the company, valued at approximately $971,750. The trade was a 14.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Trimble

A number of large investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. bought a new stake in shares of Trimble during the 3rd quarter worth $767,000. Voya Investment Management LLC increased its holdings in Trimble by 1.0% in the 3rd quarter. Voya Investment Management LLC now owns 46,235 shares of the scientific and technical instruments company’s stock worth $2,640,000 after acquiring an additional 453 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in Trimble by 94.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 81,505 shares of the scientific and technical instruments company’s stock worth $4,904,000 after acquiring an additional 39,603 shares during the last quarter. Rothschild Investment LLC increased its holdings in Trimble by 51.0% in the 3rd quarter. Rothschild Investment LLC now owns 586 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 198 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new stake in Trimble in the 3rd quarter valued at about $6,443,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Company Profile

Trimble Inc. develops technology that connects the physical and digital worlds to help customers plan, build, and manage infrastructure and other assets. Its offerings combine positioning technologies, hardware, software, and data services for industries including construction, geospatial, transportation, and agriculture. Products and services include GNSS and surveying equipment, machine-control systems, mapping and measurement tools, and software for design, project management, fleet operations, and asset tracking.