Trimble (TRMB) Upgraded to Sell by BidaskClub
Trimble (NASDAQ:TRMB) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Wednesday, August 29th.
Other equities research analysts have also recently issued reports about the stock. Goldman Sachs Group cut shares of Trimble from a “conviction-buy” rating to a “buy” rating in a report on Wednesday, June 6th. Edward Jones raised shares of Trimble from a “hold” rating to a “buy” rating in a report on Friday, June 1st. Zacks Investment Research raised shares of Trimble from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Thursday, July 12th. Craig Hallum reissued a “hold” rating and issued a $38.00 price target (down from $40.00) on shares of Trimble in a report on Tuesday, May 8th. Finally, ValuEngine raised shares of Trimble from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Trimble currently has a consensus rating of “Buy” and a consensus target price of $42.38.
NASDAQ TRMB traded up $0.08 on Wednesday, reaching $44.11. The company had a trading volume of 1,260,848 shares, compared to its average volume of 1,056,696. The firm has a market cap of $10.82 billion, a PE ratio of 28.66, a PEG ratio of 2.58 and a beta of 2.47. The company has a current ratio of 1.93, a quick ratio of 1.54 and a debt-to-equity ratio of 0.51. Trimble has a 1-year low of $32.01 and a 1-year high of $45.70.
In other news, SVP Sachin Sankpal sold 3,151 shares of Trimble stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $43.02, for a total transaction of $135,556.02. Following the completion of the transaction, the senior vice president now directly owns 17,997 shares in the company, valued at $774,230.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert G. Painter sold 1,500 shares of Trimble stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $34.33, for a total transaction of $51,495.00. Following the transaction, the chief financial officer now owns 13,888 shares of the company’s stock, valued at $476,775.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,251 shares of company stock worth $4,504,418. 1.40% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC boosted its holdings in Trimble by 28.7% during the second quarter. FMR LLC now owns 8,494,787 shares of the scientific and technical instruments company’s stock worth $278,969,000 after purchasing an additional 1,893,300 shares during the last quarter. BlackRock Inc. boosted its holdings in Trimble by 4.9% during the second quarter. BlackRock Inc. now owns 24,840,805 shares of the scientific and technical instruments company’s stock worth $815,770,000 after purchasing an additional 1,164,391 shares during the last quarter. Global X Management Co. LLC boosted its holdings in Trimble by 61.4% during the first quarter. Global X Management Co. LLC now owns 2,732,209 shares of the scientific and technical instruments company’s stock worth $98,032,000 after purchasing an additional 1,038,974 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Trimble by 185.7% during the second quarter. Victory Capital Management Inc. now owns 1,436,710 shares of the scientific and technical instruments company’s stock worth $47,181,000 after purchasing an additional 933,800 shares during the last quarter. Finally, Global Thematic Partners LLC purchased a new position in Trimble during the second quarter worth about $29,949,000. Hedge funds and other institutional investors own 90.00% 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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