Trimble (NASDAQ:TRMB) Downgraded by Craig Hallum

Craig Hallum downgraded shares of Trimble (NASDAQ:TRMB) from a buy rating to a hold rating in a research report released on Friday, BenzingaRatingsTable reports. The firm currently has $38.00 target price on the scientific and technical instruments company’s stock, up from their prior target price of $36.00.

A number of other research analysts also recently commented on the stock. William Blair reiterated an outperform rating on shares of Trimble in a research note on Thursday, February 13th. Morgan Stanley increased their target price on shares of Trimble from $28.00 to $30.00 and gave the stock an equal weight rating in a report on Thursday, May 7th. Oppenheimer increased their target price on shares of Trimble from $40.00 to $43.00 and gave the stock an outperform rating in a report on Thursday, May 7th. Robert W. Baird increased their target price on shares of Trimble from $31.00 to $39.00 and gave the stock an outperform rating in a report on Thursday, May 7th. Finally, Goldman Sachs Group dropped their target price on shares of Trimble from $53.00 to $35.00 and set a buy rating on the stock in a report on Thursday, March 19th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $39.88.

NASDAQ TRMB opened at $40.07 on Friday. Trimble has a 12 month low of $20.01 and a 12 month high of $46.67. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.97 and a quick ratio of 0.71. The company has a market capitalization of $10.00 billion, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 3.45 and a beta of 1.67. The company’s fifty day moving average price is $35.60 and its two-hundred day moving average price is $38.32.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Wednesday, May 6th. The scientific and technical instruments company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.08. Trimble had a net margin of 15.79% and a return on equity of 15.44%. The firm had revenue of $794.00 million for the quarter, compared to the consensus estimate of $773.19 million. During the same period in the prior year, the firm posted $0.45 EPS. The firm’s revenue was down 1.3% compared to the same quarter last year. As a group, analysts anticipate that Trimble will post 1.51 EPS for the current year.

In related news, VP Michael Bank sold 6,700 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $39.54, for a total value of $264,918.00. Following the sale, the vice president now owns 18,632 shares of the company’s stock, valued at approximately $736,709.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert G. Painter sold 12,615 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $39.45, for a total transaction of $497,661.75. Following the completion of the sale, the chief executive officer now directly owns 83,045 shares in the company, valued at approximately $3,276,125.25. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in TRMB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Trimble by 3.5% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 59,333 shares of the scientific and technical instruments company’s stock valued at $2,474,000 after purchasing an additional 1,998 shares in the last quarter. Natixis Advisors L.P. boosted its position in shares of Trimble by 28.3% during the 4th quarter. Natixis Advisors L.P. now owns 47,970 shares of the scientific and technical instruments company’s stock valued at $2,000,000 after purchasing an additional 10,594 shares in the last quarter. Ativo Capital Management LLC bought a new position in shares of Trimble during the 4th quarter valued at about $1,160,000. Nissay Asset Management Corp Japan ADV boosted its position in shares of Trimble by 3.1% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 22,225 shares of the scientific and technical instruments company’s stock valued at $707,000 after purchasing an additional 675 shares in the last quarter. Finally, CIBC Private Wealth Group LLC bought a new position in shares of Trimble during the 4th quarter valued at about $33,493,000. 91.09% of the stock is currently owned by hedge funds and other institutional investors.

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 operates in four segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; building information modeling software; integrated site layout and measurement systems; applications for sub-contractors and trades; and integrated workplace management services software.

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Analyst Recommendations for Trimble (NASDAQ:TRMB)

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