Trimble (NASDAQ:TRMB) was upgraded by investment analysts at Berenberg Bank from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $44.00 target price on the scientific and technical instruments company’s stock. Berenberg Bank’s price objective would suggest a potential upside of 17.84% from the stock’s previous close.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Trimble from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 6th. BidaskClub upgraded shares of Trimble from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Oppenheimer set a $50.00 price objective on shares of Trimble and gave the company a “buy” rating in a report on Friday, February 9th. Finally, TheStreet cut shares of Trimble from a “b” rating to a “c+” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $42.00.
Shares of TRMB traded up $0.24 on Tuesday, reaching $37.34. 1,063,744 shares of the company’s stock were exchanged, compared to its average volume of 1,110,630. The company has a market cap of $8,740.52, a price-to-earnings ratio of 29.17, a price-to-earnings-growth ratio of 2.45 and a beta of 2.43. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.63 and a quick ratio of 1.29. Trimble has a 12 month low of $30.76 and a 12 month high of $45.70.
In other news, Director Mark S. Peek sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $39.36, for a total value of $196,800.00. Following the completion of the transaction, the director now owns 35,000 shares in the company, valued at $1,377,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Darryl R. Matthews sold 5,683 shares of the company’s stock in a transaction that occurred on Wednesday, April 11th. The shares were sold at an average price of $34.75, for a total transaction of $197,484.25. Following the completion of the transaction, the senior vice president now owns 18,453 shares of the company’s stock, valued at approximately $641,241.75. The disclosure for this sale can be found here. Insiders sold 477,629 shares of company stock valued at $18,755,624 in the last quarter. Corporate insiders own 0.36% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Trimble by 46.4% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 141,798 shares of the scientific and technical instruments company’s stock valued at $5,763,000 after buying an additional 44,922 shares during the period. BlackRock Inc. boosted its holdings in shares of Trimble by 1.2% in the fourth quarter. BlackRock Inc. now owns 23,195,889 shares of the scientific and technical instruments company’s stock valued at $942,682,000 after buying an additional 277,736 shares during the period. Armor Investment Advisors LLC acquired a new position in shares of Trimble in the fourth quarter valued at approximately $203,000. JPMorgan Chase & Co. boosted its holdings in shares of Trimble by 22.9% in the third quarter. JPMorgan Chase & Co. now owns 370,304 shares of the scientific and technical instruments company’s stock valued at $14,598,000 after buying an additional 68,984 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Trimble by 7.1% in the fourth quarter. KBC Group NV now owns 85,762 shares of the scientific and technical instruments company’s stock valued at $3,485,000 after buying an additional 5,662 shares during the period. Institutional investors own 89.87% of the company’s stock.
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Trimble Company Profile
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.
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