JPMorgan Chase & Co. Lowers Trimble (NASDAQ:TRMB) to Neutral

JPMorgan Chase & Co. cut shares of Trimble (NASDAQ:TRMB) from an overweight rating to a neutral rating in a report released on Wednesday, Benzinga’s Daily Ratings Newsletter reports. They currently have $46.00 target price on the scientific and technical instruments company’s stock.

Several other analysts have also weighed in on TRMB. BidaskClub lowered Vertex Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, July 9th. Zacks Investment Research lowered Haynes International from a hold rating to a sell rating in a report on Wednesday, May 8th. Finally, ValuEngine raised China Southern Airlines from a sell rating to a hold rating in a report on Tuesday, June 11th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $46.33.

Shares of Trimble stock opened at $44.28 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 1.05. The company has a market capitalization of $11.05 billion, a price-to-earnings ratio of 26.20, a P/E/G ratio of 2.29 and a beta of 2.03. Trimble has a fifty-two week low of $29.75 and a fifty-two week high of $46.25. The company has a 50-day moving average price of $43.02.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported $0.40 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The firm had revenue of $804.50 million during the quarter, compared to analyst estimates of $808.58 million. Trimble had a return on equity of 16.15% and a net margin of 9.05%. Trimble’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 earnings per share. On average, equities analysts anticipate that Trimble will post 1.83 EPS for the current year.

In other Trimble news, Director Mark S. Peek sold 15,000 shares of Trimble stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $40.00, for a total value of $600,000.00. Following the completion of the transaction, the director now directly owns 48,074 shares in the company, valued at $1,922,960. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert G. Painter sold 5,300 shares of Trimble stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $44.00, for a total value of $233,200.00. Following the completion of the transaction, the chief financial officer now owns 60,697 shares of the company’s stock, valued at $2,670,668. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,750 shares of company stock valued at $6,637,192. 0.39% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of TRMB. Lake Point Wealth Management acquired a new position in Trimble in the fourth quarter valued at approximately $31,000. Liberty Wealth Management LLC acquired a new position in shares of Trimble during the fourth quarter worth approximately $36,000. Cornerstone Advisors Inc. boosted its position in shares of Trimble by 34.9% during the first quarter. Cornerstone Advisors Inc. now owns 997 shares of the scientific and technical instruments company’s stock worth $40,000 after buying an additional 258 shares during the period. Captrust Financial Advisors boosted its position in shares of Trimble by 152.3% during the fourth quarter. Captrust Financial Advisors now owns 1,882 shares of the scientific and technical instruments company’s stock worth $62,000 after buying an additional 1,136 shares during the period. Finally, Enterprise Financial Services Corp acquired a new position in shares of Trimble during the first quarter worth approximately $163,000. Institutional investors own 92.02% 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; and integrated workplace management services software.

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