Trimble (NASDAQ:TRMB) Director Kaigham Gabriel Sells 1,718 Shares

Trimble Inc. (NASDAQ:TRMB) Director Kaigham Gabriel sold 1,718 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $60.00, for a total value of $103,080.00. Following the completion of the sale, the director owned 17,426 shares in the company, valued at approximately $1,045,560. This trade represents a 8.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Trimble Stock Performance

TRMB stock traded down $0.03 during midday trading on Thursday, reaching $58.55. 1,434,592 shares of the company were exchanged, compared to its average volume of 2,397,371. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.01 and a quick ratio of 0.88. The business has a 50-day moving average price of $53.11 and a two-hundred day moving average price of $61.16. Trimble Inc. has a one year low of $47.92 and a one year high of $85.42. The firm has a market capitalization of $13.65 billion, a price-to-earnings ratio of 30.82, a price-to-earnings-growth ratio of 1.99 and a beta of 1.37.

Trimble (NASDAQ:TRMB) last posted its earnings results on Wednesday, May 6th. The scientific and technical instruments company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.07. Trimble had a net margin of 12.38% and a return on equity of 11.61%. The company had revenue of $939.90 million during the quarter, compared to analysts’ expectations of $905.60 million. During the same quarter last year, the company posted $0.61 EPS. Trimble’s quarterly revenue was up 11.8% compared to the same quarter last year. Equities research analysts forecast that Trimble Inc. will post 3.01 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC bought a new stake in Trimble in the fourth quarter valued at approximately $211,000. Empowered Funds LLC raised its holdings in Trimble by 9.5% during the 1st quarter. Empowered Funds LLC now owns 7,023 shares of the scientific and technical instruments company’s stock worth $461,000 after purchasing an additional 607 shares during the last quarter. Woodline Partners LP lifted its position in shares of Trimble by 41.6% in the 1st quarter. Woodline Partners LP now owns 20,766 shares of the scientific and technical instruments company’s stock worth $1,363,000 after purchasing an additional 6,100 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Trimble in the 2nd quarter worth approximately $208,000. Finally, Marshall Wace LLP boosted its stake in shares of Trimble by 31.8% in the 2nd quarter. Marshall Wace LLP now owns 113,500 shares of the scientific and technical instruments company’s stock valued at $8,624,000 after purchasing an additional 27,374 shares during the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TRMB. Zacks Research cut Trimble from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Barclays cut their target price on Trimble from $103.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Piper Sandler decreased their price target on shares of Trimble from $97.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Wall Street Zen upgraded Trimble from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, JPMorgan Chase & Co. reduced their price target on Trimble from $88.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Trimble presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.78.

Trimble Company Profile

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.