Trimble (NASDAQ:TRMB) Cut to “Hold” at StockNews.com

Trimble (NASDAQ:TRMB) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

TRMB has been the topic of several other reports. Piper Sandler reissued an “overweight” rating and issued a $73.00 target price on shares of Trimble in a report on Monday, August 19th. JPMorgan Chase & Co. lifted their price objective on shares of Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Robert W. Baird upped their target price on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $72.00 price target on shares of Trimble in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $66.67.

Trimble Price Performance

Shares of TRMB stock traded up $0.26 during trading on Thursday, hitting $60.56. The company had a trading volume of 904,354 shares, compared to its average volume of 1,348,829. The firm has a market capitalization of $14.79 billion, a P/E ratio of 9.90, a price-to-earnings-growth ratio of 2.70 and a beta of 1.49. Trimble has a one year low of $39.57 and a one year high of $65.55. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99. The stock’s 50-day moving average price is $58.55 and its 200 day moving average price is $57.14.

Trimble (NASDAQ:TRMB) last released its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The firm had revenue of $870.80 million during the quarter, compared to the consensus estimate of $862.50 million. During the same period in the prior year, the company posted $0.51 EPS. The company’s revenue was down 12.4% compared to the same quarter last year. Equities analysts expect that Trimble will post 2.23 EPS for the current fiscal year.

Institutional Trading of Trimble

Hedge funds and other institutional investors have recently modified their holdings of the stock. Farrow Financial Inc. lifted its stake in shares of Trimble by 0.5% in the 3rd quarter. Farrow Financial Inc. now owns 39,062 shares of the scientific and technical instruments company’s stock valued at $2,425,000 after acquiring an additional 192 shares during the last quarter. SVB Wealth LLC raised its position in Trimble by 4.8% in the first quarter. SVB Wealth LLC now owns 4,445 shares of the scientific and technical instruments company’s stock valued at $286,000 after purchasing an additional 204 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of Trimble by 4.6% during the second quarter. Profund Advisors LLC now owns 4,937 shares of the scientific and technical instruments company’s stock valued at $276,000 after purchasing an additional 219 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Trimble by 5.8% during the third quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock worth $247,000 after purchasing an additional 219 shares during the last quarter. Finally, Capital Insight Partners LLC increased its stake in shares of Trimble by 4.0% in the third quarter. Capital Insight Partners LLC now owns 7,295 shares of the scientific and technical instruments company’s stock valued at $453,000 after buying an additional 280 shares during the period. Institutional investors own 93.21% 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'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.