James Calvin Dalton Sells 609 Shares of Trimble (NASDAQ:TRMB) Stock

Key Points

• James Calvin Dalton, a director at Trimble Inc., sold 609 shares of the company's stock for a total of approximately $50,187.69, resulting in a 4.22% decrease in his ownership position.
• Trimble reported earnings of $0.71 EPS for the last quarter, exceeding the estimated $0.63 EPS and showing a slight revenue increase year-over-year.
• Several analysts have reiterated positive ratings for Trimble, with price targets ranging from $84.00 to $96.00, indicating a strong market sentiment towards the stock.

Trimble Inc. (NASDAQ:TRMB - Get Free Report) Director James Calvin Dalton sold 609 shares of Trimble stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $82.41, for a total value of $50,187.69. Following the transaction, the director owned 13,809 shares in the company, valued at approximately $1,137,999.69. This trade represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Trimble Price Performance

Shares of NASDAQ TRMB traded up $1.03 during mid-day trading on Friday, reaching $80.74. The company had a trading volume of 1,332,332 shares, compared to its average volume of 1,512,889. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. The stock has a market cap of $19.21 billion, a PE ratio of 69.60, a P/E/G ratio of 3.27 and a beta of 1.66. The company has a 50-day moving average price of $81.53 and a two-hundred day moving average price of $72.44. Trimble Inc. has a 1-year low of $52.91 and a 1-year high of $87.50.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.08. The business had revenue of $875.70 million for the quarter, compared to analysts' expectations of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The company's quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 EPS. On average, equities analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current year.

Hedge Funds Weigh In On Trimble

A number of institutional investors have recently made changes to their positions in TRMB. Norges Bank bought a new position in shares of Trimble in the second quarter worth about $198,583,000. Nuveen LLC bought a new position in shares of Trimble in the first quarter worth about $122,070,000. Select Equity Group L.P. increased its stake in Trimble by 22.4% during the fourth quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company's stock valued at $717,506,000 after acquiring an additional 1,857,517 shares during the period. Generation Investment Management LLP increased its stake in Trimble by 19.1% during the second quarter. Generation Investment Management LLP now owns 9,019,663 shares of the scientific and technical instruments company's stock valued at $685,314,000 after acquiring an additional 1,449,315 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Trimble by 26.1% during the first 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 valued at $458,113,000 after acquiring an additional 1,445,851 shares during the period. 93.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on TRMB shares. JPMorgan Chase & Co. raised their target price on Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Oppenheimer lifted their price objective on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Raymond James Financial reissued an "outperform" rating and set a $93.00 price objective (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Finally, Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $90.50.

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.