Key Points
- CFO Phillip Sawarynski sold 2,250 Trimble shares on Dec. 16 at an average price of $80.45 for $181,012.50, reducing his stake by 8.05% to 25,684 shares (≈$2.07M); the transaction was disclosed in an SEC Form 4 filing.
- The board authorized a $1.0 billion share buyback (up to 5.1% of outstanding stock) via open-market repurchases, signaling management believes the stock may be undervalued.
- Analyst sentiment is positive with a consensus rating of Buy and a consensus price target of $96.67, supported by multiple recent upgrades and price targets in the mid-to-high $90s.
Trimble Inc. (NASDAQ:TRMB - Get Free Report) CFO Phillip Sawarynski sold 2,250 shares of the firm's stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $80.45, for a total transaction of $181,012.50. Following the completion of the transaction, the chief financial officer directly owned 25,684 shares of the company's stock, valued at approximately $2,066,277.80. The trade was a 8.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Trimble Price Performance
Shares of TRMB opened at $79.91 on Friday. The company has a market cap of $19.01 billion, a P/E ratio of 54.73, a PEG ratio of 3.08 and a beta of 1.60. Trimble Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $87.50. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 0.24. The firm's 50 day moving average price is $79.59 and its 200 day moving average price is $79.49.
Trimble (NASDAQ:TRMB - Get Free Report) last issued its quarterly earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 EPS for the quarter. The company had revenue of $856.50 million during the quarter. Trimble had a net margin of 9.93% and a return on equity of 10.73%. On average, research analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.
Trimble declared that its board has initiated a share buyback plan on Friday, December 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the scientific and technical instruments company to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Trimble by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 30,265,817 shares of the scientific and technical instruments company's stock worth $2,471,204,000 after acquiring an additional 192,288 shares in the last quarter. State Street Corp boosted its stake in Trimble by 0.4% in the third quarter. State Street Corp now owns 10,951,409 shares of the scientific and technical instruments company's stock valued at $894,183,000 after acquiring an additional 43,285 shares in the last quarter. Generation Investment Management LLP grew its holdings in shares of Trimble by 19.1% during the second quarter. Generation Investment Management LLP now owns 9,019,663 shares of the scientific and technical instruments company's stock worth $685,314,000 after purchasing an additional 1,449,315 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Trimble by 26.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,978,106 shares of the scientific and technical instruments company's stock worth $458,113,000 after purchasing an additional 1,445,851 shares during the last quarter. Finally, Boston Partners increased its position in shares of Trimble by 14.4% during the second quarter. Boston Partners now owns 4,170,179 shares of the scientific and technical instruments company's stock worth $318,285,000 after purchasing an additional 525,214 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company's stock.
Analyst Ratings Changes
Several research analysts recently commented on TRMB shares. Weiss Ratings reissued a "hold (c)" rating on shares of Trimble in a research note on Wednesday, October 8th. Wells Fargo & Company assumed coverage on Trimble in a research report on Thursday, November 13th. They set an "overweight" rating and a $94.00 price objective for the company. Zacks Research upgraded shares of Trimble from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, November 11th. Berenberg Bank set a $95.00 price target on shares of Trimble and gave the stock a "buy" rating in a research note on Friday, October 3rd. Finally, KeyCorp upgraded shares of Trimble from a "sector weight" rating to an "overweight" rating and set a $99.00 price target for the company in a report on Monday. Three investment 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 company. According to data from MarketBeat.com, Trimble currently has a consensus rating of "Buy" and a consensus price target of $96.67.
Get Our Latest Analysis on TRMB
About Trimble
(
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
