Trimble Inc. (NASDAQ:TRMB) Given Average Recommendation of “Buy” by Analysts

Shares of Trimble Inc. (NASDAQ:TRMB) have been given an average rating of “Buy” by the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $95.6667.

TRMB has been the subject of several recent analyst reports. Oppenheimer restated an “outperform” rating and issued a $102.00 price target on shares of Trimble in a research note on Thursday, November 6th. Barclays started coverage on Trimble in a research report on Tuesday, October 7th. They issued an “overweight” rating and a $100.00 price objective for the company. Zacks Research upgraded Trimble from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 11th. Wells Fargo & Company assumed coverage on shares of Trimble in a research note on Thursday, November 13th. They issued an “overweight” rating and a $94.00 price target on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Trimble in a research report on Wednesday, October 8th.

Insider Transactions at Trimble

In related news, Director James Calvin Dalton sold 616 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $81.99, for a total transaction of $50,505.84. Following the completion of the sale, the director directly owned 13,193 shares in the company, valued at approximately $1,081,694.07. The trade was a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kaigham Gabriel sold 1,718 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $81.00, for a total value of $139,158.00. Following the completion of the transaction, the director owned 15,170 shares in the company, valued at $1,228,770. The trade was a 10.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 32,199 shares of company stock valued at $2,565,729. Insiders own 0.54% of the company’s stock.

Institutional Trading of Trimble

Large investors have recently bought and sold shares of the business. Salomon & Ludwin LLC purchased a new position in Trimble in the 3rd quarter worth approximately $25,000. Root Financial Partners LLC acquired a new stake in shares of Trimble in the third quarter valued at approximately $30,000. Hantz Financial Services Inc. lifted its position in Trimble by 90.8% during the third quarter. Hantz Financial Services Inc. now owns 372 shares of the scientific and technical instruments company’s stock worth $30,000 after buying an additional 177 shares in the last quarter. Quarry LP boosted its stake in Trimble by 175.8% during the third quarter. Quarry LP now owns 364 shares of the scientific and technical instruments company’s stock worth $30,000 after buying an additional 232 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in Trimble in the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Trading Up 1.1%

Shares of NASDAQ:TRMB opened at $83.34 on Friday. The company has a market capitalization of $19.83 billion, a PE ratio of 57.08, a PEG ratio of 3.22 and a beta of 1.60. Trimble has a 12-month low of $52.91 and a 12-month high of $87.50. The business has a 50 day moving average of $79.61 and a two-hundred day moving average of $79.19. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24.

Trimble (NASDAQ:TRMB) last posted its earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share (EPS) for the quarter. Trimble had a net margin of 9.93% and a return on equity of 10.73%. The firm had revenue of $856.50 million during the quarter. As a group, analysts forecast that Trimble will post 2.37 EPS for the current year.

Trimble declared that its Board of Directors has approved a share repurchase plan on Friday, December 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the scientific and technical instruments company to buy up to 5.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.