Trimble (NASDAQ:TRMB) Upgraded to Strong-Buy at Barclays

Key Points

• Trimble has been upgraded to a "strong-buy" rating by Barclays, indicating a positive outlook for the company's stock.
• Analysts' price targets for Trimble have been increased, with JPMorgan Chase setting it at $98.00 and Raymond James raising theirs to $93.00.
• Despite recent insider sales, Trimble's stock has a consensus buy rating and a current market capitalization of approximately $19.15 billion.

Trimble (NASDAQ:TRMB - Get Free Report) was upgraded by investment analysts at Barclays to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

TRMB has been the subject of several other reports. JPMorgan Chase & Co. increased 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. 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 note on Thursday, August 7th. Berenberg Bank set a $95.00 price target on Trimble and gave the stock a "buy" rating in a research note on Friday, October 3rd. Wall Street Zen upgraded Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Trimble in a research note on Wednesday. Two 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's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $92.10.

Trimble Price Performance

TRMB stock opened at $80.47 on Tuesday. The company has a market capitalization of $19.15 billion, a P/E ratio of 69.37, a PEG ratio of 3.25 and a beta of 1.65. Trimble has a twelve month low of $52.91 and a twelve month high of $87.50. The business has a 50 day simple moving average of $81.50 and a 200-day simple moving average of $74.17. 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 (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.08. The business had revenue of $875.70 million during the quarter, compared to the consensus estimate of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The company's revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 earnings per share. As a group, equities analysts anticipate that Trimble will post 2.37 EPS for the current year.

Insiders Place Their Bets

In other Trimble news, VP Christopher F. Keating sold 7,365 shares of the stock in a transaction on Thursday, September 18th. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Calvin Dalton sold 609 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $82.41, for a total value of $50,187.69. Following the completion of the transaction, the director owned 13,809 shares of the company's stock, valued at $1,137,999.69. The trade was a 4.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 216,821 shares of company stock worth $18,110,143. 0.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Catalyst Capital Advisors LLC purchased a new position in shares of Trimble in the second quarter valued at $34,000. Geneos Wealth Management Inc. increased its position in shares of Trimble by 55.4% in the second quarter. Geneos Wealth Management Inc. now owns 474 shares of the scientific and technical instruments company's stock valued at $36,000 after buying an additional 169 shares in the last quarter. Flaharty Asset Management LLC purchased a new position in shares of Trimble in the first quarter valued at $45,000. Osterweis Capital Management Inc. increased its position in shares of Trimble by 5,790.0% in the second quarter. Osterweis Capital Management Inc. now owns 589 shares of the scientific and technical instruments company's stock valued at $45,000 after buying an additional 579 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Trimble in the second quarter valued at $48,000. 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.

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