Trimble (NASDAQ:TRMB) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report issued on Saturday.

Several other equities research analysts also recently commented on TRMB. Berenberg Bank started coverage on Trimble in a report on Wednesday, August 23rd. They issued a “hold” rating and a $38.00 price objective for the company. Piper Jaffray Companies set a $43.00 price target on Trimble and gave the company a “buy” rating in a research note on Friday, August 25th. Robert W. Baird increased their price target on Trimble from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, September 22nd. Oppenheimer restated a “buy” rating on shares of Trimble in a research note on Thursday, October 19th. Finally, Wells Fargo & Company increased their price target on Trimble from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Friday, October 27th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Trimble currently has an average rating of “Hold” and an average target price of $41.70.

Shares of Trimble (NASDAQ:TRMB) opened at $40.67 on Friday. The company has a market capitalization of $10,300.00, a P/E ratio of 32.41, a PEG ratio of 2.84 and a beta of 2.35. The company has a quick ratio of 1.12, a current ratio of 1.44 and a debt-to-equity ratio of 0.22. Trimble has a twelve month low of $28.61 and a twelve month high of $43.97.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $670.00 million during the quarter, compared to the consensus estimate of $660.11 million. Trimble had a return on equity of 12.97% and a net margin of 7.66%. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 EPS. analysts forecast that Trimble will post 1.27 earnings per share for the current year.

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

In other Trimble news, VP James A. Kirkland sold 25,570 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $41.01, for a total transaction of $1,048,625.70. Following the transaction, the vice president now owns 50,221 shares in the company, valued at approximately $2,059,563.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven W. Berglund sold 200,000 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $40.45, for a total value of $8,090,000.00. Following the transaction, the chief executive officer now owns 350,489 shares in the company, valued at approximately $14,177,280.05. The disclosure for this sale can be found here. Insiders have sold a total of 320,278 shares of company stock worth $12,969,243 in the last quarter. Company insiders own 1.40% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Parametric Portfolio Associates LLC increased its position in Trimble by 19.3% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 454,402 shares of the scientific and technical instruments company’s stock worth $17,835,000 after buying an additional 73,629 shares during the period. AXA increased its position in Trimble by 19.5% during the 3rd quarter. AXA now owns 1,322,542 shares of the scientific and technical instruments company’s stock worth $51,910,000 after buying an additional 215,351 shares during the period. Public Employees Retirement System of Ohio increased its position in Trimble by 16.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 466,673 shares of the scientific and technical instruments company’s stock worth $18,317,000 after buying an additional 65,225 shares during the period. GSA Capital Partners LLP increased its position in Trimble by 223.1% during the 3rd quarter. GSA Capital Partners LLP now owns 34,269 shares of the scientific and technical instruments company’s stock worth $1,345,000 after buying an additional 23,664 shares during the period. Finally, IFM Investors Pty Ltd bought a new position in Trimble during the 3rd quarter worth $340,000. Hedge funds and other institutional investors own 89.73% 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.

Analyst Recommendations for Trimble (NASDAQ:TRMB)

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