Key Points
- Trimble director Kaigham Gabriel sold 1,718 shares at an average price of $60, generating $103,080. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced his direct ownership by 8.97% to 17,426 shares.
- Trimble reported quarterly results above expectations, with EPS of $0.79 versus $0.72 expected and revenue of $939.9 million, up 11.8% year over year. Analysts forecast full-year EPS of $3.01.
- Wall Street remains generally positive, with nine analysts rating the stock a Buy and three assigning a Hold; the consensus rating is “Moderate Buy” with an average price target of $82.62.
Trimble Inc. (NASDAQ:TRMB - Get Free Report) Director Kaigham Gabriel sold 1,718 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $60.00, for a total transaction of $103,080.00. Following the transaction, the director directly owned 17,426 shares of the company's stock, valued at $1,045,560. This represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Trimble Price Performance
Shares of NASDAQ:TRMB opened at $58.55 on Friday. Trimble Inc. has a 52 week low of $47.92 and a 52 week high of $85.42. The company has a 50-day moving average price of $53.18 and a 200 day moving average price of $61.05. The company has a market cap of $13.65 billion, a P/E ratio of 30.82, a PEG ratio of 1.95 and a beta of 1.37. The company has a quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 0.25.
Trimble (NASDAQ:TRMB - Get Free Report) last released its earnings results on Wednesday, May 6th. The scientific and technical instruments company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.07. The company had revenue of $939.90 million for the quarter, compared to analysts' expectations of $905.60 million. Trimble had a return on equity of 11.61% and a net margin of 12.38%.The firm's quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 EPS. Research analysts predict that Trimble Inc. will post 3.01 earnings per share for the current year.
Institutional Trading of Trimble
Institutional investors have recently bought and sold shares of the company. Rothschild Investment LLC grew its holdings in Trimble by 193.6% in the fourth quarter. Rothschild Investment LLC now owns 323 shares of the scientific and technical instruments company's stock valued at $25,000 after purchasing an additional 213 shares during the last quarter. DV Equities LLC purchased a new stake in shares of Trimble in the 4th quarter worth about $26,000. Bank of Jackson Hole Trust purchased a new stake in shares of Trimble in the 4th quarter worth about $27,000. Quarry LP grew its stake in 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 acquiring an additional 232 shares during the last quarter. Finally, BOKF NA increased its holdings in Trimble by 103.8% during the 4th quarter. BOKF NA now owns 426 shares of the scientific and technical instruments company's stock valued at $33,000 after acquiring an additional 217 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have issued reports on TRMB shares. Oppenheimer reiterated an "outperform" rating and issued a $80.00 price objective on shares of Trimble in a research report on Tuesday, July 7th. Wall Street Zen upgraded shares of Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Zacks Research downgraded shares of Trimble from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Piper Sandler reduced their price objective on shares of Trimble from $97.00 to $87.00 and set an "overweight" rating for the company in a research note on Wednesday, May 6th. Finally, Weiss Ratings downgraded shares of Trimble from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 4th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $82.62.
Check Out Our Latest Research Report on Trimble
About Trimble
(
Get Free Report)
Trimble Inc (NASDAQ: TRMB) is a technology company that develops hardware, software and services to improve the productivity and connectivity of customers across the construction, agriculture, geospatial, transportation and logistics, and natural resources sectors. The company's offerings center on advanced positioning technologies — including GNSS/GPS receivers, inertial sensors and laser scanning — integrated with application-specific software and cloud services to enable precise measurement, modeling, machine control and workflow automation for field and office operations.
Trimble's product portfolio spans surveying and geospatial instruments (total stations, mobile mapping and terrestrial laser scanners), construction solutions (machine control systems, site positioning and estimating), agriculture systems (auto-steer, guidance and application-control platforms), and fleet and transportation telematics.
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