Trimble (NASDAQ:TRMB) CFO Sells $181,012.50 in Stock

by · The Markets Daily

Trimble Inc. (NASDAQ:TRMB – Get Free Report) CFO Phillip Sawarynski sold 2,250 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was 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 owned 25,684 shares of the company’s stock, valued at $2,066,277.80. This trade represents a 8.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Trimble Trading Up 1.3%

TRMB traded up $1.02 during mid-day trading on Thursday, reaching $79.91. The stock had a trading volume of 1,602,579 shares, compared to its average volume of 1,487,738. The firm’s fifty day simple moving average is $79.58 and its two-hundred day simple moving average is $79.48. The stock has a market capitalization of $19.01 billion, a P/E ratio of 54.73, a P/E/G ratio of 3.14 and a beta of 1.60. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.86 and a current ratio of 1.00.

Trimble (NASDAQ:TRMB – Get Free Report) last released its earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share for the quarter. Trimble had a return on equity of 10.73% and a net margin of 9.93%.The company had revenue of $856.50 million during the quarter. On average, equities analysts predict that Trimble Inc. will post 2.37 EPS for the current year.

Trimble announced that its Board of Directors has authorized a stock buyback program on Friday, December 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the scientific and technical instruments company to repurchase up to 5.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $97.00 target price on shares of Trimble in a research note on Friday, November 7th. Oppenheimer restated an “outperform” rating and issued a $102.00 price objective on shares of Trimble in a report on Thursday, November 6th. JPMorgan Chase & Co. raised their price objective on shares of Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Zacks Research upgraded shares of Trimble from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 11th. Finally, KeyCorp raised Trimble from a “sector weight” rating to an “overweight” rating and set a $99.00 price target on the stock in a research note on Monday. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $96.67.

View Our Latest Stock Analysis on Trimble

Institutional Investors Weigh In On Trimble

Several hedge funds have recently bought and sold shares of TRMB. CX Institutional lifted its stake in Trimble by 11.7% in the second quarter. CX Institutional now owns 7,054 shares of the scientific and technical instruments company’s stock valued at $536,000 after buying an additional 739 shares in the last quarter. Boston Partners raised its holdings 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 acquiring an additional 525,214 shares during the period. Swiss National Bank raised its holdings in shares of Trimble by 8.0% during the second quarter. Swiss National Bank now owns 744,000 shares of the scientific and technical instruments company’s stock worth $56,529,000 after acquiring an additional 55,300 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in Trimble by 9.1% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 82,557 shares of the scientific and technical instruments company’s stock valued at $6,273,000 after acquiring an additional 6,873 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Trimble by 9.2% in the 2nd quarter. Legal & General Group Plc now owns 2,215,602 shares of the scientific and technical instruments company’s stock worth $168,341,000 after purchasing an additional 186,271 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

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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