Zacks Investment Research Lowers Trimble (TRMB) to Hold

Zacks Investment Research downgraded shares of Trimble (NASDAQ:TRMB) from a buy rating to a hold rating in a report released on Friday.

According to Zacks, “Trimble’s drivers include robust organic growth, contributions from acquisitions and operational efficiency. Also, Trimble's expanding product portfolio is aiding its solid organic growth. Moreover, the geographical diversity in Trimble’s agricultural business continues to strengthen its footprints in the agricultural sector. This also aids the performance of the company’s Resources and Utilities segment. However, growing competition in the industry remains a concern. Also, the company is exposed to the risk of foreign exchange rate fluctuations. Notably, the stock has outperformed the industry it belongs to on a year-to-date basis.”

A number of other research firms have also recently issued reports on TRMB. ValuEngine upgraded shares of Trimble from a hold rating to a buy rating in a research note on Wednesday, September 12th. BidaskClub upgraded shares of Trimble from a sell rating to a hold rating in a research note on Thursday, November 22nd. Finally, Robert W. Baird lifted their target price on shares of Trimble from $44.00 to $47.00 and gave the company an outperform rating in a research note on Friday, November 2nd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Trimble currently has an average rating of Buy and an average price target of $44.20.

TRMB traded down $1.43 on Friday, reaching $35.49. 1,035,788 shares of the company traded hands, compared to its average volume of 1,138,961. Trimble has a 52-week low of $32.01 and a 52-week high of $45.70. The company has a market capitalization of $9.27 billion, a PE ratio of 27.73, a PEG ratio of 2.11 and a beta of 2.42. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.79 and a current ratio of 1.08.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Thursday, November 1st. The scientific and technical instruments company reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.03). The company had revenue of $804.70 million for the quarter, compared to analysts’ expectations of $806.12 million. Trimble had a net margin of 5.32% and a return on equity of 16.21%. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 earnings per share. On average, equities analysts forecast that Trimble will post 1.67 earnings per share for the current fiscal year.

In other news, SVP Darryl R. Matthews sold 2,400 shares of the business’s stock in a transaction on Monday, November 26th. The shares were sold at an average price of $37.21, for a total value of $89,304.00. Following the completion of the sale, the senior vice president now directly owns 13,841 shares in the company, valued at $515,023.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James A. Kirkland sold 14,292 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $39.37, for a total transaction of $562,676.04. Following the completion of the sale, the insider now owns 51,436 shares of the company’s stock, valued at $2,025,035.32. The disclosure for this sale can be found here. Insiders sold 22,393 shares of company stock valued at $880,463 over the last quarter. Corporate insiders own 1.40% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Swiss National Bank lifted its stake in shares of Trimble by 1.6% in the second quarter. Swiss National Bank now owns 821,700 shares of the scientific and technical instruments company’s stock worth $26,985,000 after buying an additional 13,300 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in shares of Trimble by 11.9% in the third quarter. IFM Investors Pty Ltd now owns 14,130 shares of the scientific and technical instruments company’s stock worth $614,000 after buying an additional 1,498 shares during the last quarter. Verition Fund Management LLC lifted its stake in shares of Trimble by 151.6% in the second quarter. Verition Fund Management LLC now owns 29,776 shares of the scientific and technical instruments company’s stock worth $978,000 after buying an additional 17,942 shares during the last quarter. Natixis lifted its stake in shares of Trimble by 16.6% in the second quarter. Natixis now owns 27,845 shares of the scientific and technical instruments company’s stock worth $914,000 after buying an additional 3,968 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its stake in shares of Trimble by 1,228.4% in the third quarter. Penserra Capital Management LLC now owns 9,724 shares of the scientific and technical instruments company’s stock worth $348,000 after buying an additional 8,992 shares during the last quarter. Institutional investors and hedge funds own 90.27% 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 operates in four segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; building information modeling software; integrated site layout and measurement systems; applications for sub-contractors and trades; integrated workplace management services software; capital program and facility management solutions; field based data collection systems; and communication systems and back-office software.

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