Key Points
- Trimble CEO Robert Painter sold 7,500 shares on Dec. 9 at an average price of $81.39 for about $610,425, cutting his stake by 15.18% to 41,897 shares (≈$3.41M).
- The board authorized a $1.0 billion share buyback, permitting repurchases of up to 5.1% of outstanding shares, signaling management believes the stock may be undervalued.
- Analyst sentiment and valuation are favourable — Trimble has a market cap of ~$19.8B, a PE of ~57.1, and an average analyst rating of "Buy" with a $95.67 average price target.
Trimble Inc. (NASDAQ:TRMB - Get Free Report) CEO Robert Painter sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $81.39, for a total value of $610,425.00. Following the completion of the sale, the chief executive officer directly owned 41,897 shares of the company's stock, valued at approximately $3,409,996.83. The trade was a 15.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Trimble Stock Up 1.1%
TRMB opened at $83.34 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24. The stock's fifty day simple moving average is $79.61 and its 200 day simple moving average is $79.19. Trimble Inc. has a 1-year low of $52.91 and a 1-year high of $87.50. The stock has a market cap of $19.83 billion, a PE ratio of 57.08, a price-to-earnings-growth ratio of 3.22 and a beta of 1.60.
Trimble (NASDAQ:TRMB - Get Free Report) last issued its quarterly earnings data on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share for the quarter. The company had revenue of $856.50 million for the quarter. Trimble had a net margin of 9.93% and a return on equity of 10.73%. As a group, research analysts expect that Trimble Inc. will post 2.37 earnings per share for the current year.
Trimble declared that its board has authorized a stock buyback plan on Friday, December 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the scientific and technical instruments company to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.
Institutional Trading of Trimble
Several large investors have recently modified their holdings of the stock. Salomon & Ludwin LLC bought a new position in shares of Trimble in the third quarter worth $25,000. Root Financial Partners LLC bought a new position in Trimble in the 3rd quarter valued at about $30,000. Quarry LP raised its position in shares of Trimble by 175.8% in the 3rd quarter. Quarry LP now owns 364 shares of the scientific and technical instruments company's stock valued at $30,000 after buying an additional 232 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Trimble by 90.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 372 shares of the scientific and technical instruments company's stock worth $30,000 after acquiring an additional 177 shares during the period. Finally, Global Retirement Partners LLC boosted its position in shares of Trimble by 78.7% during the 3rd quarter. Global Retirement Partners LLC now owns 411 shares of the scientific and technical instruments company's stock worth $34,000 after acquiring an additional 181 shares in the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the company. Oppenheimer restated an "outperform" rating and set a $102.00 price objective on shares of Trimble in a report on Thursday, November 6th. Weiss Ratings restated a "hold (c)" rating on shares of Trimble in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on Trimble from $96.00 to $98.00 and gave the company an "overweight" rating in a report on Friday, September 19th. Berenberg Bank set a $95.00 target price on Trimble and gave the stock a "buy" rating in a report on Friday, October 3rd. Finally, Wells Fargo & Company assumed coverage on shares of Trimble in a research note on Thursday, November 13th. They issued an "overweight" rating and a $94.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Trimble presently has an average rating of "Buy" and an average price target of $95.67.
Read Our Latest Stock Report on TRMB
Trimble Company Profile
(
Get Free Report)
Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.
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