Trimble (NASDAQ:TRMB) Given "Hold (C)" Rating at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "hold (C)" rating for Trimble (NASDAQ:TRMB), while other research firms have issued varying ratings, with some projecting price targets as high as $100.00.
• Trimble's stock price increased by 0.9%, reaching $81.42 during midday trading, with a market capitalization of approximately $19.38 billion.
• Insider activity showed significant stock sales, including a transaction by CEO Robert G. Painter who sold over $9.5 million worth of shares, reflecting substantial decreases in their holdings.

Trimble (NASDAQ:TRMB - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

A number of other research firms also recently commented on TRMB. Raymond James Financial reiterated an "outperform" rating and set a $93.00 price objective (up from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Barclays started coverage on Trimble in a research note on Tuesday, October 7th. They issued an "overweight" rating and a $100.00 price target for the company. Berenberg Bank set a $95.00 price objective on Trimble and gave the company a "buy" rating in a research note on Friday, October 3rd. Finally, Oppenheimer lifted their target price on Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued 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 $92.10.

Trimble Stock Up 0.9%

NASDAQ TRMB traded up $0.72 during mid-day trading on Friday, reaching $81.42. 1,003,271 shares of the company's stock traded hands, compared to its average volume of 1,212,873. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. Trimble has a 1-year low of $52.91 and a 1-year high of $87.50. The company has a fifty day simple moving average of $80.36 and a 200-day simple moving average of $75.36. The company has a market cap of $19.38 billion, a price-to-earnings ratio of 70.19, a P/E/G ratio of 3.31 and a beta of 1.65.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share (EPS) for the quarter. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The company had revenue of $856.50 million for the quarter. As a group, equities research analysts expect that Trimble will post 2.37 EPS for the current year.

Insider Activity at Trimble

In other Trimble news, VP Christopher F. Keating sold 7,365 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $81.74, for a total value of $602,015.10. Following the completion of the transaction, the vice president owned 406 shares in the company, valued at approximately $33,186.44. This represents a 94.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert G. Painter sold 115,781 shares of the firm's stock in a transaction that occurred on 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. The trade was a 50.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 224,321 shares of company stock worth $18,677,518 in the last 90 days. 0.54% of the stock is currently owned by company insiders.

Institutional Trading of Trimble

Several large investors have recently added to or reduced their stakes in TRMB. OneDigital Investment Advisors LLC boosted its position in Trimble by 30.1% during the 1st quarter. OneDigital Investment Advisors LLC now owns 4,077 shares of the scientific and technical instruments company's stock worth $268,000 after acquiring an additional 943 shares during the period. CX Institutional raised its stake in shares of Trimble by 11.7% during the second quarter. CX Institutional now owns 7,054 shares of the scientific and technical instruments company's stock valued at $536,000 after purchasing an additional 739 shares in the last quarter. DAVENPORT & Co LLC raised its stake in shares of Trimble by 6.0% during the first quarter. DAVENPORT & Co LLC now owns 7,956 shares of the scientific and technical instruments company's stock valued at $522,000 after purchasing an additional 452 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Trimble by 7.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,876 shares of the scientific and technical instruments company's stock worth $2,355,000 after purchasing an additional 2,397 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Trimble by 10.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 42,719 shares of the scientific and technical instruments company's stock valued at $2,793,000 after buying an additional 4,185 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

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.

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