Trimble (TRMB) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Trimble (NASDAQ:TRMB) from a buy rating to a hold rating in a research note released on Thursday morning.

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 analysts have also commented on TRMB. ValuEngine raised shares of Trimble from a hold rating to a buy rating in a research report on Wednesday, September 12th. BidaskClub raised shares of Trimble from a sell rating to a hold rating in a research report on Thursday, November 22nd. Finally, Robert W. Baird upped their price objective on shares of Trimble from $44.00 to $47.00 and gave the company an outperform rating in a research report on Friday, November 2nd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $44.20.

TRMB stock opened at $38.03 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.08 and a quick ratio of 0.79. Trimble has a 52-week low of $32.01 and a 52-week high of $45.70. The stock has a market cap of $9.39 billion, a price-to-earnings ratio of 29.71, a PEG ratio of 2.15 and a beta of 2.45.

Trimble (NASDAQ:TRMB) last released its quarterly earnings results on Thursday, November 1st. The scientific and technical instruments company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.03). Trimble had a net margin of 5.32% and a return on equity of 16.21%. The firm had revenue of $804.70 million for the quarter, compared to the consensus estimate of $806.12 million. During the same quarter last year, the company earned $0.39 earnings per share. The firm’s revenue was up 18.9% on a year-over-year basis. As a group, equities analysts anticipate that Trimble will post 1.66 EPS for the current fiscal year.

In other news, SVP Darryl R. Matthews sold 2,400 shares of the company’s stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $37.21, for a total transaction of $89,304.00. Following the completion of the transaction, the senior vice president now owns 13,841 shares of the company’s stock, valued at $515,023.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert G. Painter sold 750 shares of the company’s stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $38.87, for a total transaction of $29,152.50. Following the transaction, the chief financial officer now directly owns 10,888 shares of the company’s stock, valued at approximately $423,216.56. The disclosure for this sale can be found here. Insiders have sold 9,934 shares of company stock valued at $395,671 in the last ninety days. 1.40% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. State Treasurer State of Michigan raised its position in Trimble by 1.4% in the second quarter. State Treasurer State of Michigan now owns 91,800 shares of the scientific and technical instruments company’s stock worth $3,015,000 after purchasing an additional 1,300 shares in the last quarter. Stanley Laman Group Ltd. raised its position in Trimble by 0.9% in the second quarter. Stanley Laman Group Ltd. now owns 151,716 shares of the scientific and technical instruments company’s stock worth $4,982,000 after purchasing an additional 1,332 shares in the last quarter. IFM Investors Pty Ltd raised its position in 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 purchasing an additional 1,498 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in Trimble by 215.3% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,396 shares of the scientific and technical instruments company’s stock worth $104,000 after purchasing an additional 1,636 shares in the last quarter. Finally, MetLife Investment Advisors LLC raised its position in Trimble by 1.1% in the second quarter. MetLife Investment Advisors LLC now owns 156,634 shares of the scientific and technical instruments company’s stock worth $5,144,000 after purchasing an additional 1,702 shares in the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

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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