Trimble (NASDAQ:TRMB) Earns "Hold (C)" Rating from Weiss Ratings

Key Points

• Trimble has received a "Hold (C)" rating from Weiss Ratings, while several analysts from other firms have issued higher ratings, with price targets ranging from $93.00 to $100.00.
• Trimble's stock gained value to $80.47 with an average rating of "Buy" and a consensus price target of $92.10 among analysts.
• Recent insider transactions include significant sales by VP Christopher F. Keating and CEO Robert G. Painter, representing large decreases in their positions within the company.

Trimble (NASDAQ:TRMB - Get Free Report)'s stock had its "hold (c)" rating reissued by analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Trimble from $96.00 to $98.00 and gave the company an "overweight" rating in a report on Friday, September 19th. Berenberg Bank set a $95.00 target price on shares of Trimble and gave the company a "buy" rating in a research report on Friday, October 3rd. Raymond James Financial reaffirmed an "outperform" rating and issued a $93.00 price objective (up from $85.00) on shares of Trimble in a report on Thursday, August 7th. Barclays began coverage on shares of Trimble in a report on Tuesday. They issued an "overweight" rating and a $100.00 price target for the company. Finally, Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Trimble has an average rating of "Buy" and a consensus price target of $92.10.

Trimble Stock Performance

Shares of NASDAQ:TRMB traded up $1.17 on Wednesday, reaching $80.47. 1,003,143 shares of the company's stock were exchanged, compared to its average volume of 1,403,217. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $19.15 billion, a price-to-earnings ratio of 69.37, a PEG ratio of 3.25 and a beta of 1.65. The company has a fifty day moving average of $81.50 and a 200-day moving average of $74.17. Trimble has a twelve month low of $52.91 and a twelve month high of $87.50.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.08. The firm had revenue of $875.70 million for the quarter, compared to analyst estimates of $835.81 million. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The company's quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the business posted $0.62 earnings per share. On average, research analysts predict that Trimble will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling at Trimble

In other Trimble news, VP Christopher F. Keating sold 7,365 shares of the firm's 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 transaction, the vice president owned 406 shares of the company's stock, valued at approximately $33,186.44. This trade represents a 94.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert G. Painter sold 115,781 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $82.83, for a total transaction of $9,590,140.23. Following the completion of the sale, the chief executive officer owned 114,879 shares in the company, valued at $9,515,427.57. This represents a 50.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 221,381 shares of company stock valued at $18,474,943 over the last ninety days. Corporate insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On Trimble

Several institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Trimble in the 2nd quarter worth $198,583,000. Nuveen LLC purchased a new stake in Trimble during the first quarter worth about $122,070,000. Generation Investment Management LLP increased its stake in shares of Trimble by 19.1% during the second quarter. Generation Investment Management LLP now owns 9,019,663 shares of the scientific and technical instruments company's stock worth $685,314,000 after buying an additional 1,449,315 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Trimble by 26.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,978,106 shares of the scientific and technical instruments company's stock valued at $458,113,000 after purchasing an additional 1,445,851 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Trimble by 338.8% in the first quarter. Assenagon Asset Management S.A. now owns 815,909 shares of the scientific and technical instruments company's stock valued at $53,564,000 after acquiring an additional 629,960 shares during the period. 93.21% of the stock is owned by hedge funds and other institutional investors.

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.

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