Traders Are Bullish Trimble Inc. (TRMB) After The Stock Formed Double Top Pattern

December 7, 2017 - By Stephen Andrade

Investors sentiment increased to 1.28 in 2017 Q2. Its up 0.20, from 1.08 in 2017Q1. It increased, as 25 investors sold Trimble Inc. shares while 115 reduced holdings. 51 funds opened positions while 128 raised stakes. 223.17 million shares or 0.94% less from 225.30 million shares in 2017Q1 were reported.
First Quadrant L P Ca holds 0% or 6,466 shares in its portfolio. Highbridge Cap Lc has invested 0% in Trimble Inc. (NASDAQ:TRMB). Dimensional Fund L P, a Texas-based fund reported 1.00M shares. Kames Capital Pcl reported 211,463 shares. Acadian Asset Mgmt Llc stated it has 0% in Trimble Inc. (NASDAQ:TRMB). Logan Cap Mgmt holds 177,714 shares. 39,802 are held by Luminus Mngmt Ltd Liability Company. Ahl Partners Llp invested in 0.02% or 31,364 shares. Gsa Capital Partners Llp owns 10,605 shares. Vanguard Gp Incorporated accumulated 0.04% or 21.31M shares. 891,648 were accumulated by Ny State Common Retirement Fund. 10,389 were reported by Caprock Grp Incorporated. 187,468 are held by Grandfield & Dodd Ltd. Loomis Sayles L P holds 0.02% or 257,245 shares in its portfolio. Bath Savings invested in 36,310 shares or 0.36% of the stock.

The chart of Trimble Inc. (TRMB) shows a double top with $43.73 target or 7.00 % above today’s $40.87 share price. The 9 months chart pattern indicates low risk for the $10.29 billion company. It was reported on Dec, 7 by Finviz.com. If the $43.73 price target is reached, the company will be worth $720.23 million more. Double tops are rare but powerful chart patterns.

The stock increased 0.34% or $0.14 during the last trading session, reaching $40.87. About 932,852 shares traded. Trimble Inc. (NASDAQ:TRMB) has risen 51.45% since December 7, 2016 and is uptrending. It has outperformed by 34.75% the S&P500.

Analysts await Trimble Inc. (NASDAQ:TRMB) to report earnings on February, 14. They expect $0.31 EPS, up 10.71 % or $0.03 from last year’s $0.28 per share. TRMB’s profit will be $78.04 million for 32.96 P/E if the $0.31 EPS becomes a reality. After $0.35 actual EPS reported by Trimble Inc. for the previous quarter, Wall Street now forecasts -11.43 % negative EPS growth.

Trimble Inc. (NASDAQ:TRMB) Ratings Coverage

Among 17 analysts covering Trimble Navigation Limited (NASDAQ:TRMB), 8 have Buy rating, 0 Sell and 9 Hold. Therefore 47% are positive. Trimble Navigation Limited had 35 analyst reports since August 5, 2015 according to SRatingsIntel. Dougherty & Company maintained Trimble Inc. (NASDAQ:TRMB) on Friday, November 4 with “Buy” rating. On Thursday, October 26 the stock rating was maintained by Robert W. Baird with “Buy”. On Friday, September 25 the stock rating was maintained by JP Morgan with “Overweight”. The company was maintained on Thursday, February 9 by Needham. The firm has “Hold” rating given on Thursday, February 9 by Craig Hallum. The stock of Trimble Inc. (NASDAQ:TRMB) has “Outperform” rating given on Friday, October 30 by Robert W. Baird. Piper Jaffray maintained the stock with “Buy” rating in Monday, July 24 report. The stock of Trimble Inc. (NASDAQ:TRMB) earned “Buy” rating by Oppenheimer on Wednesday, August 2. The firm has “Buy” rating by Needham given on Friday, October 27. The company was maintained on Friday, October 27 by Wells Fargo.

Another recent and important Trimble Inc. (NASDAQ:TRMB) news was published by Reuters.com which published an article titled: “Siemens, Trimble, Moody’s breached by Chinese hackers, US charges” on November 27, 2017.

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