Shares of Trimble Inc (NASDAQ:TRMB) have been given an average rating of “Hold” by the twelve brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $41.78.
Several equities research analysts recently issued reports on TRMB shares. Zacks Investment Research upgraded shares of Trimble from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Tuesday, December 26th. BidaskClub cut shares of Trimble from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 7th. Wells Fargo & Co raised their target price 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. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price (up previously from $42.00) on shares of Trimble in a report on Sunday, October 29th. Finally, Oppenheimer raised their target price on shares of Trimble from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, October 27th.
Shares of Trimble (NASDAQ TRMB) opened at $40.00 on Tuesday. Trimble has a fifty-two week low of $30.45 and a fifty-two week high of $45.70. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.63 and a quick ratio of 1.29. The stock has a market cap of $9,960.00, a P/E ratio of 85.11, a P/E/G ratio of 2.33 and a beta of 2.38.
Trimble declared that its board has authorized a stock buyback 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 purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
In other Trimble news, VP Jurgen Kliem sold 995 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $42.50, for a total value of $42,287.50. Following the transaction, the vice president now directly owns 18,175 shares in the company, valued at $772,437.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Sachin Sankpal sold 6,512 shares of the stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $41.99, for a total transaction of $273,438.88. Following the completion of the transaction, the senior vice president now owns 17,997 shares in the company, valued at $755,694.03. The disclosure for this sale can be found here. Insiders sold 21,009 shares of company stock worth $874,709 over the last quarter. Insiders own 1.40% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRMB. Ark Investment Management LLC raised its position in Trimble by 38.0% in the second quarter. Ark Investment Management LLC now owns 48,462 shares of the scientific and technical instruments company’s stock worth $1,729,000 after acquiring an additional 13,357 shares during the period. Advisor Group Inc. raised its position in shares of 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 valued at $142,000 after purchasing an additional 144 shares during the period. HighTower Advisors LLC raised its position in shares of Trimble by 2.1% during the 2nd quarter. HighTower Advisors LLC now owns 19,071 shares of the scientific and technical instruments company’s stock valued at $682,000 after purchasing an additional 397 shares during the period. Royal Bank of Canada raised its position in shares of Trimble by 12.8% during the 2nd quarter. Royal Bank of Canada now owns 77,810 shares of the scientific and technical instruments company’s stock valued at $2,776,000 after purchasing an additional 8,852 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of Trimble by 10.9% during the 2nd quarter. Janus Henderson Group PLC now owns 1,146,307 shares of the scientific and technical instruments company’s stock valued at $40,892,000 after purchasing an additional 112,290 shares during the period. Institutional investors and hedge funds own 90.41% of the company’s stock.
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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