Trimble (NASDAQ:TRMB) Upgraded at StockNews.com

StockNews.com upgraded shares of Trimble (NASDAQ:TRMB) from a hold rating to a buy rating in a research note released on Friday.

TRMB has been the subject of several other reports. Piper Sandler reiterated an “overweight” rating and set a $73.00 target price on shares of Trimble in a research note on Monday, August 19th. JPMorgan Chase & Co. raised their price objective on Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Oppenheimer restated an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. Finally, Robert W. Baird increased their target price on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.40.

Trimble Stock Up 0.2 %

NASDAQ TRMB opened at $61.31 on Friday. The stock has a market cap of $14.97 billion, a PE ratio of 10.04, a P/E/G ratio of 2.71 and a beta of 1.49. Trimble has a fifty-two week low of $40.79 and a fifty-two week high of $65.55. The business has a 50 day moving average price of $59.30 and a two-hundred day moving average price of $57.13. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB) last released its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. The company had revenue of $870.80 million during the quarter, compared to analysts’ expectations of $862.50 million. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The business’s revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 EPS. As a group, sell-side analysts predict that Trimble will post 2.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Trimble by 25.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 296,093 shares of the scientific and technical instruments company’s stock worth $19,057,000 after buying an additional 60,409 shares during the period. Illinois Municipal Retirement Fund increased its position in Trimble by 484.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 90,705 shares of the scientific and technical instruments company’s stock worth $5,838,000 after buying an additional 75,182 shares during the period. CANADA LIFE ASSURANCE Co increased its position in Trimble by 11.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 247,807 shares of the scientific and technical instruments company’s stock worth $15,960,000 after buying an additional 24,938 shares during the period. Trustmark National Bank Trust Department bought a new position in Trimble in the 1st quarter worth approximately $579,000. Finally, Swedbank AB bought a new position in Trimble in the 1st quarter worth approximately $17,937,000. 93.21% of the stock is owned by institutional investors.

About Trimble

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.