Trimble Inc (NASDAQ:TRMB) has earned an average recommendation of “Buy” from the eleven research firms that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $41.60.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Trimble from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Tuesday, December 26th. BidaskClub downgraded shares of Trimble from a “buy” rating to a “hold” rating in a report on Saturday, December 16th. Needham & Company LLC restated a “buy” rating and set a $45.00 price objective (up from $42.00) on shares of Trimble in a research note on Sunday, October 29th. Oppenheimer lifted their price objective on shares of Trimble from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Finally, Wells Fargo & Co lifted their price objective on shares of Trimble from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Friday, October 27th.
Shares of Trimble (NASDAQ:TRMB) traded up $0.17 on Friday, hitting $44.08. 776,100 shares of the stock traded hands, compared to its average volume of 894,200. Trimble has a 52 week low of $28.61 and a 52 week high of $44.32. The firm has a market capitalization of $11,160.00, a P/E ratio of 58.00, a price-to-earnings-growth ratio of 2.67 and a beta of 2.36. The company has a current ratio of 1.44, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22.
Trimble announced that its Board of Directors has approved a stock repurchase program on Wednesday, November 15th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
In other Trimble news, SVP Darryl R. Matthews sold 1,094 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $40.51, for a total value of $44,317.94. Following the sale, the senior vice president now directly owns 4,475 shares in the company, valued at $181,282.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Darryl R. Matthews sold 1,605 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $39.95, for a total transaction of $64,119.75. Following the completion of the sale, the senior vice president now owns 6,219 shares in the company, valued at $248,449.05. The disclosure for this sale can be found here. Over the last quarter, insiders sold 320,278 shares of company stock worth $12,969,243. 1.40% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank raised its holdings in Trimble by 13.0% during the 2nd quarter. Toronto Dominion Bank now owns 3,100 shares of the scientific and technical instruments company’s stock worth $111,000 after buying an additional 357 shares during the period. Fieldpoint Private Securities LLC acquired a new stake in Trimble during the 3rd quarter worth about $137,000. Howe & Rusling Inc. acquired a new stake in Trimble during the 3rd quarter worth about $139,000. Advisor Group Inc. raised its holdings in Trimble by 3.7% during the 2nd quarter. Advisor Group Inc. now owns 4,016 shares of the scientific and technical instruments company’s stock worth $142,000 after buying an additional 144 shares during the period. Finally, Fulton Bank N.A. acquired a new stake in Trimble during the 3rd quarter worth about $200,000. Hedge funds and other institutional investors own 90.72% of the company’s stock.
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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.
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