Trimble Inc. (NASDAQ:TRMB - Get Free Report) CEO Robert G. Painter sold 93,066 shares of Trimble stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $84.54, for a total value of $7,867,799.64. Following the transaction, the chief executive officer owned 114,879 shares of the company's stock, valued at $9,711,870.66. The trade was a 44.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Trimble Price Performance
NASDAQ:TRMB traded down $1.43 during trading hours on Friday, hitting $82.24. 2,024,643 shares of the stock were exchanged, compared to its average volume of 2,065,060. Trimble Inc. has a 52-week low of $52.91 and a 52-week high of $87.50. The firm's fifty day moving average price is $79.11 and its 200 day moving average price is $71.77. 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 company has a market cap of $19.57 billion, a P/E ratio of 70.90, a P/E/G ratio of 3.43 and a beta of 1.69.
Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.63 by $0.08. Trimble had a return on equity of 10.24% and a net margin of 8.02%. The company had revenue of $875.70 million during the quarter, compared to analyst estimates of $835.81 million. During the same period in the previous year, the business earned $0.62 EPS. Trimble's quarterly revenue was up .6% on a year-over-year basis. As a group, equities research analysts anticipate that Trimble Inc. will post 2.37 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Trimble by 20.0% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 295,202 shares of the scientific and technical instruments company's stock worth $22,464,000 after purchasing an additional 49,243 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in Trimble in the second quarter valued at approximately $54,000. Corient Private Wealth LLC lifted its holdings in Trimble by 88.1% in the second quarter. Corient Private Wealth LLC now owns 37,811 shares of the scientific and technical instruments company's stock valued at $2,881,000 after acquiring an additional 17,706 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Trimble by 4.2% in the second quarter. Captrust Financial Advisors now owns 95,140 shares of the scientific and technical instruments company's stock valued at $7,229,000 after acquiring an additional 3,848 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its holdings in Trimble by 19.6% in the second quarter. Rafferty Asset Management LLC now owns 82,845 shares of the scientific and technical instruments company's stock valued at $6,295,000 after acquiring an additional 13,566 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Raymond James Financial reiterated an "outperform" rating and set a $93.00 price objective (up previously from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Piper Sandler restated an "overweight" rating and issued a $84.00 price target on shares of Trimble in a research note on Thursday, May 8th. Wall Street Zen upgraded Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Oppenheimer lifted their price target on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $90.50.
View Our Latest Analysis on Trimble
Trimble Company Profile
(
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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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