Shares of Trimble Inc (NASDAQ:TRMB) have received an average recommendation of “Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $41.60.

A number of equities research analysts have recently commented on TRMB shares. Wells Fargo & Co increased their target price on shares of Trimble from $34.00 to $37.00 and gave the company a “market perform” rating in a research report on Friday, October 27th. Zacks Investment Research upgraded shares of Trimble from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Tuesday, December 26th. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 target price (up from $42.00) on shares of Trimble in a research report on Sunday, October 29th. Oppenheimer reiterated a “buy” rating on shares of Trimble in a research report on Thursday, October 19th. Finally, BidaskClub cut shares of Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, December 16th.

In related news, Director Ronald S. Nersesian sold 55,000 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $40.13, for a total transaction of $2,207,150.00. Following the completion of the sale, the director now directly owns 46,820 shares in the company, valued at $1,878,886.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Steven W. Berglund sold 200,000 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $40.45, for a total transaction of $8,090,000.00. Following the sale, the chief executive officer now owns 350,489 shares of the company’s stock, valued at $14,177,280.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 320,278 shares of company stock valued at $12,969,243. 1.40% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in TRMB. JPMorgan Chase & Co. increased its position in Trimble by 8.9% during the second quarter. JPMorgan Chase & Co. now owns 301,320 shares of the scientific and technical instruments company’s stock worth $10,747,000 after purchasing an additional 24,734 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Trimble by 3.2% during the second quarter. Ameriprise Financial Inc. now owns 1,301,267 shares of the scientific and technical instruments company’s stock valued at $46,416,000 after acquiring an additional 40,886 shares during the last quarter. Laurion Capital Management LP acquired a new stake in shares of Trimble during the second quarter valued at about $1,894,000. Thrivent Financial For Lutherans increased its position in shares of Trimble by 2.7% during the second quarter. Thrivent Financial For Lutherans now owns 137,050 shares of the scientific and technical instruments company’s stock valued at $4,888,000 after acquiring an additional 3,560 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Trimble by 9.7% during the second quarter. New York State Common Retirement Fund now owns 891,648 shares of the scientific and technical instruments company’s stock valued at $31,805,000 after acquiring an additional 78,693 shares during the last quarter. Hedge funds and other institutional investors own 90.92% of the company’s stock.

Shares of Trimble (TRMB) traded down $0.10 during midday trading on Friday, hitting $44.49. 362,795 shares of the stock were exchanged, compared to its average volume of 893,272. The firm has a market capitalization of $11,260.00, a PE ratio of 58.54, a price-to-earnings-growth ratio of 2.71 and a beta of 2.36. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.44 and a quick ratio of 1.12. Trimble has a 1-year low of $28.61 and a 1-year high of $44.75.

Trimble (NASDAQ:TRMB) last issued its earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.02. The business had revenue of $670.00 million during the quarter, compared to analysts’ expectations of $660.11 million. Trimble had a net margin of 7.66% and a return on equity of 12.97%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 earnings per share. equities research analysts expect that Trimble will post 1.27 earnings per share for the current fiscal year.

Trimble announced that its board has initiated a stock buyback program on Wednesday, November 15th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the scientific and technical instruments company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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About Trimble

Trimble Inc, formerly Trimble Navigation Limited, is engaged in providing technology solutions that enable professionals and field mobile workers to transform their work processes. The Company’s solutions are used across a range of industries, including agriculture, architecture, civil engineering, survey and land administration, construction, geospatial, government, natural resources, transportation and utilities.

Analyst Recommendations for Trimble (NASDAQ:TRMB)

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