Trimble Inc. (NASDAQ:TRMB – Get Free Report) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,070,000 shares, a decline of 23.3% from the August 15th total of 2,700,000 shares. Based on an average daily trading volume, of 1,160,000 shares, the short-interest ratio is currently 1.8 days. Approximately 0.8% of the company’s shares are sold short.
Insider Buying and Selling at Trimble
In other news, CEO Robert G. Painter sold 3,000 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $55.00, for a total value of $165,000.00. Following the sale, the chief executive officer now directly owns 212,356 shares of the company’s stock, valued at approximately $11,679,580. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Robert G. Painter sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $55.00, for a total value of $165,000.00. Following the transaction, the chief executive officer now directly owns 212,356 shares of the company’s stock, valued at approximately $11,679,580. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert G. Painter sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $50.34, for a total value of $125,850.00. Following the sale, the chief executive officer now directly owns 209,856 shares of the company’s stock, valued at approximately $10,564,151.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,040 shares of company stock worth $531,470. Insiders own 0.61% of the company’s stock.
Institutional Investors Weigh In On Trimble
A number of institutional investors have recently added to or reduced their stakes in the company. United Capital Financial Advisers LLC increased its holdings in Trimble by 0.3% during the first quarter. United Capital Financial Advisers LLC now owns 69,939 shares of the scientific and technical instruments company’s stock worth $5,045,000 after buying an additional 186 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Trimble by 1.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 19,263 shares of the scientific and technical instruments company’s stock worth $1,020,000 after purchasing an additional 200 shares during the period. Inspire Investing LLC lifted its stake in Trimble by 2.4% in the second quarter. Inspire Investing LLC now owns 8,844 shares of the scientific and technical instruments company’s stock valued at $468,000 after purchasing an additional 206 shares during the last quarter. Ronald Blue Trust Inc. grew its holdings in Trimble by 39.6% during the first quarter. Ronald Blue Trust Inc. now owns 762 shares of the scientific and technical instruments company’s stock valued at $39,000 after purchasing an additional 216 shares during the period. Finally, Advisor Partners II LLC increased its position in Trimble by 2.8% in the first quarter. Advisor Partners II LLC now owns 7,961 shares of the scientific and technical instruments company’s stock worth $417,000 after buying an additional 218 shares during the last quarter. 90.20% of the stock is owned by institutional investors.
Trimble Stock Performance
Shares of Trimble stock opened at $51.34 on Friday. Trimble has a 52 week low of $45.43 and a 52 week high of $62.40. The company has a quick ratio of 0.84, a current ratio of 1.12 and a debt-to-equity ratio of 0.74. The business has a 50 day moving average price of $53.44 and a 200-day moving average price of $50.84. The company has a market cap of $12.75 billion, a PE ratio of 37.20, a price-to-earnings-growth ratio of 2.35 and a beta of 1.55.
Trimble (NASDAQ:TRMB – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The scientific and technical instruments company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. The business had revenue of $993.60 million during the quarter, compared to analyst estimates of $979.08 million. Trimble had a return on equity of 13.12% and a net margin of 9.45%. Equities analysts anticipate that Trimble will post 2.14 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on TRMB. Piper Sandler reissued a “neutral” rating and set a $51.00 target price on shares of Trimble in a research note on Friday, August 4th. StockNews.com began coverage on shares of Trimble in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group boosted their target price on Trimble from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $58.71.
About Trimble
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 route selection and design; 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.