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.
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.
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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