Trimble (TRMB) Stock Rating Lowered by BidaskClub

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

Several other research firms have also recently commented on TRMB. Oppenheimer restated a “buy” rating and set a $50.00 price target (up from $45.00) on shares of Trimble in a report on Wednesday, January 31st. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price objective (up from $42.00) on shares of Trimble in a report on Sunday, October 29th. Wells Fargo & Co upped their price objective on shares of Trimble from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Friday, October 27th. Finally, Zacks Investment Research cut shares of Trimble from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $42.10.

Trimble (NASDAQ TRMB) opened at $40.32 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 1.44. Trimble has a fifty-two week low of $29.71 and a fifty-two week high of $45.70. The company has a market cap of $10,040.00, a price-to-earnings ratio of 53.05, a PEG ratio of 2.63 and a beta of 2.38.

Trimble announced that its Board of Directors has initiated a share buyback program on Wednesday, November 15th that allows the company to repurchase $600.00 million in 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 usually a sign that the company’s management believes its stock is undervalued.

In related news, SVP Sachin Sankpal sold 6,512 shares of the company’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $41.99, for a total value of $273,438.88. Following the completion of the sale, the senior vice president now directly owns 17,997 shares in the company, valued at $755,694.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jurgen Kliem sold 995 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $42.50, for a total transaction of $42,287.50. Following the completion of the sale, the vice president now owns 18,175 shares of the company’s stock, valued at $772,437.50. The disclosure for this sale can be found here. Insiders sold 48,184 shares of company stock valued at $1,987,455 over the last quarter. 1.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Farr Miller & Washington LLC DC boosted its holdings in Trimble by 0.3% during the fourth quarter. Farr Miller & Washington LLC DC now owns 8,743 shares of the scientific and technical instruments company’s stock valued at $264,000 after acquiring an additional 25 shares during the period. FTB Advisors Inc. boosted its holdings in Trimble by 0.5% during the third quarter. FTB Advisors Inc. now owns 8,267 shares of the scientific and technical instruments company’s stock valued at $236,000 after acquiring an additional 42 shares during the period. Creative Planning boosted its holdings in Trimble by 0.3% during the first quarter. Creative Planning now owns 17,341 shares of the scientific and technical instruments company’s stock valued at $555,000 after acquiring an additional 51 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Trimble by 0.5% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 16,964 shares of the scientific and technical instruments company’s stock valued at $484,000 after acquiring an additional 77 shares during the period. Finally, Huntington National Bank boosted its holdings in Trimble by 1.8% during the first quarter. Huntington National Bank now owns 4,552 shares of the scientific and technical instruments company’s stock valued at $146,000 after acquiring an additional 82 shares during the period. Institutional investors own 90.87% of the company’s stock.

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Trimble Company Profile

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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