Trimble (NASDAQ:TRMB) Downgraded by StockNews.com to “Hold”

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

A number of other analysts also recently issued reports on TRMB. Piper Sandler restated an “overweight” rating and set a $73.00 price objective on shares of Trimble in a report on Monday, August 19th. Robert W. Baird lifted their target price on shares of Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Raymond James restated an “outperform” rating and issued a $65.00 price objective on shares of Trimble in a research report on Wednesday, May 15th. Oppenheimer restated an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Trimble from $65.00 to $58.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Trimble presently has an average rating of “Moderate Buy” and a consensus price target of $65.33.

Trimble Stock Up 1.0 %

Shares of TRMB stock traded up $0.55 on Wednesday, hitting $55.49. The stock had a trading volume of 1,325,624 shares, compared to its average volume of 1,359,926. The business has a 50 day moving average of $55.16 and a 200 day moving average of $57.83. The stock has a market cap of $13.55 billion, a price-to-earnings ratio of 57.80, a price-to-earnings-growth ratio of 2.55 and a beta of 1.48. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.88. Trimble has a 12-month low of $39.57 and a 12-month high of $65.55.

Trimble (NASDAQ:TRMB) last announced its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. The company had revenue of $870.80 million during the quarter, compared to the consensus estimate of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.51 earnings per share. As a group, analysts expect that Trimble will post 2.22 EPS for the current year.

Institutional Trading of Trimble

A number of hedge funds have recently modified their holdings of TRMB. Vanguard Group Inc. boosted its stake in Trimble by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 29,213,613 shares of the scientific and technical instruments company’s stock worth $1,554,164,000 after purchasing an additional 273,863 shares in the last quarter. Generation Investment Management LLP increased its holdings in Trimble by 89.5% in the 4th quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company’s stock worth $652,787,000 after acquiring an additional 5,796,030 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Trimble by 2.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,315,941 shares of the scientific and technical instruments company’s stock worth $342,134,000 after purchasing an additional 126,472 shares during the period. Primecap Management Co. CA boosted its stake in Trimble by 3.9% in the 4th quarter. Primecap Management Co. CA now owns 5,025,141 shares of the scientific and technical instruments company’s stock worth $267,338,000 after purchasing an additional 188,790 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Trimble by 1,387.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock worth $215,176,000 after purchasing an additional 3,589,249 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.