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

Key Points

• Trimble director Kaigham Gabriel sold 1,718 shares at an average price of $60, generating $103,080 under a pre-arranged Rule 10b5-1 plan. His remaining stake fell 8.97% to 17,426 shares.
• Trimble shares were down 0.1% at $58.55, while the company’s latest quarterly results exceeded expectations, with EPS of $0.79 versus estimates of $0.72 and revenue of $939.9 million.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $83.78; institutional investors own 93.21% of the company, and several funds recently initiated positions.

Trimble Inc. (NASDAQ:TRMB - Get Free Report) Director Kaigham Gabriel sold 1,718 shares of the company's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $60.00, for a total value of $103,080.00. Following the transaction, the director directly owned 17,426 shares of the company's stock, valued at $1,045,560. This represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Trimble Stock Down 0.1%

Trimble stock traded down $0.03 during midday trading on Thursday, reaching $58.55. The stock had a trading volume of 1,434,592 shares, compared to its average volume of 2,397,371. The stock has a market capitalization of $13.65 billion, a P/E ratio of 30.82, a price-to-earnings-growth ratio of 1.99 and a beta of 1.37. The firm's fifty day simple moving average is $53.11 and its 200-day simple moving average is $61.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 1.01. Trimble Inc. has a 1-year low of $47.92 and a 1-year high of $85.42.

Trimble (NASDAQ:TRMB - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The scientific and technical instruments company reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.07. The firm had revenue of $939.90 million during the quarter, compared to the consensus estimate of $905.60 million. Trimble had a return on equity of 11.61% and a net margin of 12.38%.The business's revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 EPS. As a group, analysts expect that Trimble Inc. will post 3.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Trimble from $88.00 to $75.00 and set an "overweight" rating on the stock in a research report on Monday, July 13th. Piper Sandler decreased their price objective on Trimble from $97.00 to $87.00 and set an "overweight" rating for the company in a report on Wednesday, May 6th. Zacks Research lowered Trimble from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Barclays reduced their price target on Trimble from $103.00 to $79.00 and set an "overweight" rating for the company in a research report on Friday, May 29th. Finally, Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $83.78.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TRMB. Bank of New York Mellon Corp acquired a new position in shares of Trimble during the 2nd quarter worth about $59,227,000. State of Wyoming acquired a new stake in Trimble in the 2nd quarter valued at about $562,000. GSA Capital Partners LLP bought a new position in Trimble during the second quarter worth about $297,000. Avalon Trust Co acquired a new position in Trimble during the second quarter worth approximately $119,000. Finally, One Wealth Advisors LLC acquired a new position in Trimble during the second quarter worth approximately $226,000. Institutional investors own 93.21% of the company's stock.

About Trimble

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source