StockNews.com Downgrades Trimble (NASDAQ:TRMB) to Hold

StockNews.com lowered shares of Trimble (NASDAQ:TRMB - Free Report) from a buy rating to a hold rating in a report issued on Saturday morning.

TRMB has been the subject of a number of other reports. Robert W. Baird lifted their price target on shares of Trimble from $66.00 to $82.00 and gave the company an "outperform" rating in a research report on Friday. Oppenheimer reiterated an "outperform" rating and issued a $72.00 target price on shares of Trimble in a report on Wednesday, August 7th. Piper Sandler boosted their target price on Trimble from $73.00 to $84.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their price target on Trimble from $66.00 to $74.00 and gave the stock a "neutral" rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Trimble presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.40.

Trimble Trading Up 0.7 %

TRMB stock traded up $0.51 during midday trading on Friday, hitting $72.65. 1,395,675 shares of the company's stock were exchanged, compared to its average volume of 1,348,584. Trimble has a 1-year low of $40.79 and a 1-year high of $73.17. The company has a current ratio of 1.16, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $17.74 billion, a PE ratio of 12.15, a P/E/G ratio of 3.23 and a beta of 1.49. The business has a 50-day simple moving average of $60.46 and a two-hundred day simple moving average of $57.47.

Trimble (NASDAQ:TRMB - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.04. The business had revenue of $870.80 million during the quarter, compared to analysts' expectations of $862.50 million. Trimble had a return on equity of 10.18% and a net margin of 40.67%. The company's revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 EPS. On average, sell-side analysts predict that Trimble will post 2.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Trimble

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its stake in shares of Trimble by 1,387.6% in the second quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company's stock valued at $215,176,000 after acquiring an additional 3,589,249 shares in the last quarter. AQR Capital Management LLC increased its holdings in Trimble by 2,035.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,146,995 shares of the scientific and technical instruments company's stock worth $63,635,000 after purchasing an additional 1,093,275 shares during the period. Lazard Asset Management LLC raised its position in Trimble by 25.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company's stock valued at $164,087,000 after purchasing an additional 516,789 shares in the last quarter. Impax Asset Management Group plc boosted its stake in shares of Trimble by 18.7% in the 3rd quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company's stock valued at $169,978,000 after buying an additional 434,065 shares during the period. Finally, Capital Group Private Client Services Inc. grew its position in shares of Trimble by 77.8% during the first quarter. Capital Group Private Client Services Inc. now owns 891,592 shares of the scientific and technical instruments company's stock worth $57,383,000 after buying an additional 390,171 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company's stock.

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.