Trimble (NASDAQ:TRMB) has been assigned a $50.00 price objective by research analysts at Oppenheimer in a research note issued on Friday. The firm presently has a “buy” rating on the scientific and technical instruments company’s stock. Oppenheimer’s price target would indicate a potential upside of 31.34% from the company’s current price.
A number of other research analysts have also recently commented on the company. Zacks Investment Research upgraded Trimble from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Tuesday, December 26th. BidaskClub cut Trimble from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 7th. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target (up from $42.00) on shares of Trimble in a research note on Sunday, October 29th. Finally, Wells Fargo & Co 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $42.10.
Trimble (NASDAQ TRMB) traded down $1.27 during midday trading on Friday, reaching $38.07. The company’s stock had a trading volume of 2,816,587 shares, compared to its average volume of 898,018. 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 12-month low of $30.45 and a 12-month high of $45.70. The company has a market capitalization of $9,170.00, a PE ratio of 81.00, a PEG ratio of 2.40 and a beta of 2.38.
Trimble declared that its Board of Directors has initiated a stock buyback program on Wednesday, November 15th that authorizes the company to buyback $600.00 million in shares. This buyback authorization authorizes the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
In related news, SVP Darryl R. Matthews sold 1,605 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now directly owns 6,219 shares of the company’s stock, valued at approximately $248,449.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP James A. Kirkland sold 25,570 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $41.01, for a total value of $1,048,625.70. Following the transaction, the vice president now directly owns 50,221 shares of the company’s stock, valued at $2,059,563.21. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,184 shares of company stock valued at $1,987,455. 1.40% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Toronto Dominion Bank grew 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 acquiring an additional 357 shares during the period. Cerebellum GP LLC acquired a new stake in Trimble during the 4th quarter worth about $125,000. Advisory Services Network LLC grew its holdings in Trimble by 3,428.1% during the 4th quarter. Advisory Services Network LLC now owns 3,140 shares of the scientific and technical instruments company’s stock worth $128,000 after acquiring an additional 3,051 shares during the period. Fieldpoint Private Securities LLC acquired a new stake in Trimble during the 3rd quarter worth about $137,000. Finally, Howe & Rusling Inc. acquired a new stake in Trimble during the 3rd quarter worth about $139,000. 90.87% of the stock is owned by institutional investors and hedge funds.
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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.
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