Trimble (NASDAQ:TRMB) Upgraded to Strong-Buy at Zacks Research

Trimble (NASDAQ:TRMB) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on TRMB. Piper Sandler reaffirmed an “overweight” rating and set a $97.00 target price on shares of Trimble in a research report on Friday, November 7th. Raymond James Financial restated an “outperform” rating and issued a $93.00 price target (up previously from $85.00) on shares of Trimble in a report on Thursday, August 7th. Oppenheimer reaffirmed an “outperform” rating and set a $102.00 target price on shares of Trimble in a research report on Thursday, November 6th. Wall Street Zen upgraded Trimble from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Trimble in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $94.20.

Trimble Price Performance

TRMB stock opened at $82.19 on Tuesday. The stock has a market cap of $19.55 billion, a PE ratio of 70.85, a P/E/G ratio of 3.26 and a beta of 1.66. Trimble has a 12 month low of $52.91 and a 12 month high of $87.50. The company has a 50-day moving average price of $80.05 and a 200 day moving average price of $77.48. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Friday, April 12th. The scientific and technical instruments company reported $0.60 EPS for the quarter. The company had revenue of $856.50 million for the quarter. Trimble had a return on equity of 10.24% and a net margin of 8.02%. Equities research analysts anticipate that Trimble will post 2.37 earnings per share for the current year.

Insider Activity at Trimble

In other Trimble news, VP Christopher F. Keating sold 7,365 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $81.74, for a total transaction of $602,015.10. Following the sale, the vice president owned 406 shares of the company’s stock, valued at approximately $33,186.44. The trade was a 94.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James Calvin Dalton sold 609 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $82.41, for a total transaction of $50,187.69. Following the completion of the transaction, the director directly owned 13,809 shares of the company’s stock, valued at approximately $1,137,999.69. This represents a 4.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 17,192 shares of company stock valued at $1,358,736 over the last 90 days. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Trimble

Hedge funds and other institutional investors have recently bought and sold shares of the business. Salomon & Ludwin LLC purchased a new stake in shares of Trimble in the 3rd quarter valued at $25,000. Root Financial Partners LLC acquired a new position in Trimble during the third quarter valued at $30,000. Hantz Financial Services Inc. boosted its holdings in Trimble by 90.8% in the third quarter. Hantz Financial Services Inc. now owns 372 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 177 shares during the last quarter. Global Retirement Partners LLC grew its position in Trimble by 78.7% during the 3rd quarter. Global Retirement Partners LLC now owns 411 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 181 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Trimble during the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Company Profile

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.