Trimble (TRMB) Upgraded to “Overweight” by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Trimble (NASDAQ:TRMB) from a neutral rating to an overweight rating in a research note issued to investors on Thursday, MarketBeat reports. They currently have $40.00 price target on the scientific and technical instruments company’s stock, down from their previous price target of $41.00.

A number of other analysts have also issued reports on the company. Zacks Investment Research lowered Trimble from a buy rating to a hold rating in a research report on Saturday, January 5th. BidaskClub lowered Trimble from a hold rating to a sell rating in a research report on Wednesday, December 12th. Finally, Robert W. Baird boosted their target price on Trimble from $44.00 to $47.00 and gave the company an outperform rating in a research report on Friday, November 2nd. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of Buy and an average price target of $42.50.

Shares of NASDAQ TRMB opened at $35.21 on Thursday. The company has a market capitalization of $8.62 billion, a price-to-earnings ratio of 27.51, a PEG ratio of 1.77 and a beta of 2.24. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.79 and a current ratio of 1.08. Trimble has a 52-week low of $29.75 and a 52-week high of $45.70.

Trimble (NASDAQ:TRMB) last announced its earnings results on Thursday, November 1st. The scientific and technical instruments company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The firm had revenue of $804.70 million during the quarter, compared to analysts’ expectations of $806.12 million. Trimble had a net margin of 5.32% and a return on equity of 16.21%. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.39 EPS. Analysts predict that Trimble will post 1.67 earnings per share for the current fiscal year.

In other news, insider James A. Kirkland sold 14,292 shares of the company’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $39.37, for a total transaction of $562,676.04. Following the sale, the insider now owns 51,436 shares of the company’s stock, valued at $2,025,035.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Darryl R. Matthews sold 2,400 shares of the company’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $37.21, for a total value of $89,304.00. Following the sale, the senior vice president now directly owns 13,841 shares in the company, valued at approximately $515,023.61. The disclosure for this sale can be found here. Insiders have sold 19,242 shares of company stock worth $744,907 in the last ninety days. Corporate insiders own 0.36% of the company’s stock.

Several hedge funds have recently modified their holdings of TRMB. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Trimble by 215.3% during 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. Csenge Advisory Group acquired a new position in shares of Trimble during the third quarter worth $108,000. Korea Investment CORP acquired a new position in shares of Trimble during the second quarter worth $131,000. Commerce Bank acquired a new position in shares of Trimble during the third quarter worth $211,000. Finally, Argent Trust Co acquired a new position in shares of Trimble during the second quarter worth $214,000. Hedge funds and other institutional investors own 90.31% 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 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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