Trimble Inc (TRMB) Given Consensus Rating of “Hold” by Brokerages
Trimble Inc (NASDAQ:TRMB) has been assigned a consensus recommendation of “Hold” from the eleven brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $44.75.
TRMB has been the subject of a number of research reports. ValuEngine upgraded Trimble from a “sell” rating to a “hold” rating in a research note on Wednesday, July 25th. Zacks Investment Research lowered Trimble from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. BidaskClub upgraded Trimble from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 29th. Finally, Robert W. Baird raised their target price on Trimble from $44.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, November 2nd.
Trimble stock opened at $35.74 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.08 and a quick ratio of 0.79. Trimble has a 52-week low of $32.01 and a 52-week high of $45.70. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of 27.92, a P/E/G ratio of 2.11 and a beta of 2.45.
In related news, SVP Sachin Sankpal sold 3,151 shares of Trimble stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $43.02, for a total value of $135,556.02. Following the completion of the sale, the senior vice president now directly owns 17,997 shares in the company, valued at $774,230.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert G. Painter sold 750 shares of Trimble stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $38.87, for a total value of $29,152.50. Following the completion of the sale, the chief financial officer now owns 10,888 shares of the company’s stock, valued at $423,216.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,264 shares of company stock valued at $1,832,884. Corporate insiders own 0.36% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp increased its position in Trimble by 17.9% in the third quarter. Mackenzie Financial Corp now owns 240,666 shares of the scientific and technical instruments company’s stock worth $10,459,000 after purchasing an additional 36,455 shares during the period. Advisors Asset Management Inc. increased its position in Trimble by 14.9% in the third quarter. Advisors Asset Management Inc. now owns 30,010 shares of the scientific and technical instruments company’s stock worth $1,304,000 after purchasing an additional 3,885 shares during the period. Point72 Asset Management L.P. acquired a new stake in Trimble in the third quarter worth about $491,000. Rodgers Brothers Inc. acquired a new stake in Trimble in the third quarter worth about $261,000. Finally, Select Equity Group L.P. increased its position in Trimble by 95.0% in the third quarter. Select Equity Group L.P. now owns 3,645,708 shares of the scientific and technical instruments company’s stock worth $158,442,000 after purchasing an additional 1,776,477 shares during the period. Hedge funds and other institutional investors own 89.32% of the company’s stock.
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; integrated workplace management services software; capital program and facility management solutions; field based data collection systems; and communication systems and back-office software.
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