Trimble Inc. (NASDAQ:TRMB) CEO Sells $591,450.00 in Stock

Trimble Inc. (NASDAQ:TRMB - Get Free Report) CEO Robert G. Painter sold 7,500 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $78.86, for a total transaction of $591,450.00. Following the completion of the transaction, the chief executive officer owned 114,879 shares of the company's stock, valued at approximately $9,059,357.94. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Trimble Stock Performance

Shares of NASDAQ:TRMB traded down $0.84 during midday trading on Friday, hitting $79.99. The company had a trading volume of 1,207,091 shares, compared to its average volume of 1,404,637. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.72. The company has a market cap of $19.08 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 3.45 and a beta of 1.67. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $81.66. The company has a fifty day moving average of $72.69 and a two-hundred day moving average of $70.03.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. The firm had revenue of $840.60 million during the quarter, compared to analyst estimates of $810.45 million. Trimble had a return on equity of 9.87% and a net margin of 42.40%. Trimble's revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 EPS. On average, equities research analysts expect that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TRMB. Wall Street Zen lowered shares of Trimble from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. boosted their target price on shares of Trimble from $88.00 to $95.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Piper Sandler reiterated an "overweight" rating and set a $84.00 target price on shares of Trimble in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $89.43.

Institutional Investors Weigh In On Trimble

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in Trimble in the 4th quarter worth $190,391,000. Boston Partners boosted its holdings in Trimble by 217.3% in the 4th quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company's stock worth $239,802,000 after buying an additional 2,312,937 shares during the period. Nuveen LLC bought a new position in Trimble in the 1st quarter worth $122,070,000. Select Equity Group L.P. boosted its holdings in Trimble by 22.4% in the 4th quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company's stock worth $717,506,000 after buying an additional 1,857,517 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in 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 buying an additional 1,445,851 shares during the period. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

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.