Insider Selling: Trimble (NASDAQ:TRMB) CFO Sells 2,250 Shares of Stock

Trimble Inc. (NASDAQ:TRMB) CFO Phillip Sawarynski sold 2,250 shares of Trimble stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $80.45, for a total value of $181,012.50. Following the completion of the sale, the chief financial officer directly owned 25,684 shares in the company, valued at approximately $2,066,277.80. This represents a 8.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Trimble Stock Up 1.3%

NASDAQ:TRMB traded up $1.02 during trading hours on Thursday, reaching $79.91. 1,602,579 shares of the stock were exchanged, compared to its average volume of 1,487,738. The stock has a market cap of $19.01 billion, a PE ratio of 54.73, a PEG ratio of 3.14 and a beta of 1.60. Trimble Inc. has a twelve month low of $52.91 and a twelve month high of $87.50. The firm has a 50 day moving average of $79.58 and a 200 day moving average of $79.48. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.00 and a quick ratio of 0.86.

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

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Salomon & Ludwin LLC bought a new stake in Trimble in the 3rd quarter valued at $25,000. Root Financial Partners LLC acquired a new position in shares of Trimble in the third quarter valued at $30,000. Hantz Financial Services Inc. raised its position in shares of Trimble by 90.8% in the third quarter. Hantz Financial Services Inc. now owns 372 shares of the scientific and technical instruments company’s stock valued at $30,000 after purchasing an additional 177 shares during the period. Quarry LP lifted its stake in shares of Trimble by 175.8% during the 3rd quarter. Quarry LP now owns 364 shares of the scientific and technical instruments company’s stock worth $30,000 after buying an additional 232 shares during the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Trimble during the 2nd quarter worth about $34,000. 93.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on TRMB. Piper Sandler restated an “overweight” rating and set a $97.00 price objective on shares of Trimble in a research note on Friday, November 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Trimble in a report on Wednesday, October 8th. Oppenheimer restated an “outperform” rating and issued a $102.00 price target on shares of Trimble in a research note on Thursday, November 6th. Barclays began coverage on Trimble in a research note on Tuesday, October 7th. They set an “overweight” rating and a $100.00 price objective on the stock. Finally, Wells Fargo & Company initiated coverage on Trimble in a report on Thursday, November 13th. They issued an “overweight” rating and a $94.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $96.67.

Trimble Company Profile

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.