Trimble (NASDAQ:TRMB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Trimble reported impressive fourth-quarter 2017 results. Both earnings and revenues increased on a year-over-year basis. The company’s aggressive acquisition strategy has helped it to rapidly expand product portfolio, improve competitiveness and enter new markets. Moreover, acquisitions have expanded Trimble’s Transportation, Agriculture Management and Forest solutions portfolio. Further, they have aided the company to expand in markets like Germany, Finland and Canada. We also note that the company’s initiatives toward lowering the cost structure are helping in improving profits. However, weakness in European Geospatial market, slowdown in Asia Pacific, uncertainty in the United States and Mexico are major headwinds. Also, stiff competition is a headwind.”
TRMB has been the topic of several other reports. Wells Fargo & Co increased their target price on shares of Trimble from $34.00 to $37.00 and gave the stock a “market perform” rating in a research note on Friday, October 27th. Needham & Company LLC restated a “buy” rating and set a $45.00 price target (up previously from $42.00) on shares of Trimble in a research report on Sunday, October 29th. Oppenheimer restated a “buy” rating on shares of Trimble in a research report on Thursday, October 19th. BidaskClub downgraded shares of Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, December 16th. Finally, TheStreet downgraded shares of Trimble from a “b” rating to a “c+” rating in a research report on Thursday, February 8th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $42.10.
Trimble (NASDAQ:TRMB) last posted its earnings results on Thursday, February 8th. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. Trimble had a net margin of 4.56% and a return on equity of 13.37%. The business had revenue of $708.40 million for the quarter, compared to analyst estimates of $674.84 million. During the same period in the prior year, the company posted $0.31 EPS. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. research analysts predict that Trimble will post 1.45 EPS for the current year.
Trimble announced that its board has approved a share buyback plan 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 buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
In other Trimble news, VP James Veneziano sold 13,502 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $41.40, for a total value of $558,982.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jurgen Kliem sold 995 shares of the stock in a transaction dated Monday, December 4th. The shares were 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 approximately $772,437.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,009 shares of company stock valued at $874,709. 1.40% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Advisor Group Inc. increased its holdings 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 worth $142,000 after buying an additional 144 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of 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 last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Trimble by 5.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 10,052 shares of the scientific and technical instruments company’s stock worth $359,000 after buying an additional 521 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Trimble by 1.4% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 93,232 shares of the scientific and technical instruments company’s stock worth $3,659,000 after buying an additional 1,283 shares during the last quarter. Finally, Aperio Group LLC increased its holdings in shares of Trimble by 1.9% during the 4th quarter. Aperio Group LLC now owns 69,923 shares of the scientific and technical instruments company’s stock worth $2,842,000 after buying an additional 1,317 shares during the last quarter. Institutional investors own 90.41% 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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