Trimble Inc (NASDAQ:TRMB)’s share price shot up 5.1% during trading on Monday . The company traded as high as $40.20 and last traded at $40.00. 2,237,239 shares traded hands during mid-day trading, an increase of 116% from the average session volume of 1,038,022 shares. The stock had previously closed at $38.07.

Several brokerages recently commented on TRMB. TheStreet downgraded Trimble from a “b” rating to a “c+” rating in a report on Thursday, February 8th. BidaskClub downgraded Trimble from a “buy” rating to a “hold” rating in a report on Wednesday, February 7th. Oppenheimer set a $50.00 target price on Trimble and gave the company a “buy” rating in a report on Friday, February 9th. Zacks Investment Research downgraded Trimble from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $45.00 target price (up from $42.00) on shares of Trimble in a report on Sunday, October 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $42.10.

The company has a market cap of $9,955.86, a price-to-earnings ratio of 83.55, a P/E/G ratio of 2.46 and a beta of 2.38. The company has a current ratio of 1.63, a quick ratio of 1.29 and a debt-to-equity ratio of 0.33.

Trimble (NASDAQ:TRMB) last announced its earnings results on Thursday, February 8th. The scientific and technical instruments company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. Trimble had a return on equity of 13.37% and a net margin of 4.56%. The business had revenue of $708.40 million for the quarter, compared to the consensus estimate of $674.84 million. During the same period last year, the business posted $0.31 EPS. The company’s revenue was up 21.0% on a year-over-year basis. equities research analysts expect that Trimble Inc will post 1.45 earnings per share for the current fiscal year.

Trimble announced that its board has initiated a stock repurchase program on Wednesday, November 15th that allows the company to buyback $600.00 million in outstanding shares. This buyback authorization allows the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

In other Trimble news, VP James Veneziano sold 13,502 shares of Trimble stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $41.40, for a total transaction of $558,982.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Sachin Sankpal sold 6,512 shares of Trimble stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $41.99, for a total value of $273,438.88. Following the sale, the senior vice president now owns 17,997 shares in the company, valued at $755,694.03. The disclosure for this sale can be found here. Insiders have sold a total of 21,009 shares of company stock worth $874,709 over the last 90 days. 1.40% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of TRMB. Arrowstreet Capital Limited Partnership grew its position in shares of Trimble by 107.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,973,352 shares of the scientific and technical instruments company’s stock worth $80,197,000 after acquiring an additional 1,023,051 shares in the last quarter. Global X Management Co. LLC grew its position in shares of Trimble by 127.2% in the 4th quarter. Global X Management Co. LLC now owns 1,693,235 shares of the scientific and technical instruments company’s stock worth $68,813,000 after acquiring an additional 947,868 shares in the last quarter. First Quadrant L P CA grew its position in shares of Trimble by 9,319.3% in the 3rd quarter. First Quadrant L P CA now owns 609,052 shares of the scientific and technical instruments company’s stock worth $23,905,000 after acquiring an additional 602,586 shares in the last quarter. KAMES CAPITAL plc grew its position in shares of Trimble by 238.9% in the 4th quarter. KAMES CAPITAL plc now owns 763,144 shares of the scientific and technical instruments company’s stock worth $31,014,000 after acquiring an additional 537,988 shares in the last quarter. Finally, Global X MANAGEMENT CO LLC grew its position in shares of Trimble by 176.1% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 745,367 shares of the scientific and technical instruments company’s stock worth $29,256,000 after acquiring an additional 475,414 shares in the last quarter. Institutional investors own 90.41% of the company’s stock.

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About Trimble

Trimble Inc, formerly Trimble Navigation Limited, is engaged in providing technology solutions that enable professionals and field mobile workers to transform their work processes. The Company’s solutions are used across a range of industries, including agriculture, architecture, civil engineering, survey and land administration, construction, geospatial, government, natural resources, transportation and utilities.

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