Insider Selling: Trimble (NASDAQ:TRMB) CEO Sells 7,500 Shares of Stock

Key Points

• Trimble CEO Robert Painter sold 7,500 shares of the company’s stock on October 14th at an average price of $75.65, totaling approximately $567,375.
• Following the sale, Painter's remaining holding is 92,379 shares, valued at around $6.99 million, representing a 7.51% decrease in his position.
• Recent analyst ratings indicate a consensus of "Buy" for Trimble, with price targets ranging from $93 to $98, reflecting positive expectations for the company's growth.

Trimble Inc. (NASDAQ:TRMB - Get Free Report) CEO Robert Painter sold 7,500 shares of the company's stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $75.65, for a total value of $567,375.00. Following the sale, the chief executive officer owned 92,379 shares of the company's stock, valued at approximately $6,988,471.35. This trade represents a 7.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Trimble Stock Performance

Shares of Trimble stock traded down $0.85 during trading hours on Thursday, reaching $77.87. 978,373 shares of the stock traded hands, compared to its average volume of 1,530,739. Trimble Inc. has a one year low of $52.91 and a one year high of $87.50. The firm has a market capitalization of $18.53 billion, a price-to-earnings ratio of 67.13, a P/E/G ratio of 3.20 and a beta of 1.65. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. The company has a 50 day moving average price of $80.92 and a 200 day moving average price of $74.47.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings data on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share (EPS) for the quarter. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The company had revenue of $856.50 million for the quarter. On average, equities research analysts expect that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TRMB shares. Raymond James Financial restated an "outperform" rating and issued a $93.00 price target (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Berenberg Bank set a $95.00 target price on shares of Trimble and gave the stock a "buy" rating in a report on Friday, October 3rd. Oppenheimer raised their price target on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. lifted their price objective on Trimble from $96.00 to $98.00 and gave the stock an "overweight" rating in a research note on Friday, September 19th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Trimble in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $92.10.

Hedge Funds Weigh In On Trimble

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in Trimble during the 2nd quarter valued at $198,583,000. Nuveen LLC bought a new position in Trimble during the first quarter valued at $122,070,000. Generation Investment Management LLP lifted its holdings in shares of Trimble by 19.1% in the 2nd quarter. Generation Investment Management LLP now owns 9,019,663 shares of the scientific and technical instruments company's stock worth $685,314,000 after acquiring an additional 1,449,315 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Trimble by 26.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,978,106 shares of the scientific and technical instruments company's stock worth $458,113,000 after acquiring an additional 1,445,851 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Trimble by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company's stock worth $1,988,450,000 after purchasing an additional 582,124 shares during the period. Hedge funds and other institutional investors own 93.21% of the company's stock.

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 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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