Trimble (NASDAQ:TRMB) VP Sells $602,015.10 in Stock

Key Points

• VP Christopher Keating of Trimble Inc. sold 7,365 shares of stock for a total of $602,015.10, significantly reducing his ownership by nearly 94.78%.
• The company reported earnings of $0.71 per share, exceeding analyst estimates, with revenue reaching $875.70 million for the last quarter.
• Trimble has seen increased investments from major hedge funds, with institutional investors owning 93.21% of the company's stock.

Trimble Inc. (NASDAQ:TRMB - Get Free Report) VP Christopher F. Keating sold 7,365 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $81.74, for a total value of $602,015.10. Following the sale, the vice president owned 406 shares in the company, valued at approximately $33,186.44. This represents a 94.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Trimble Trading Down 0.3%

Shares of Trimble stock traded down $0.23 during midday trading on Tuesday, reaching $81.92. 179,060 shares of the company's stock traded hands, compared to its average volume of 1,554,732. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94. Trimble Inc. has a 12 month low of $52.91 and a 12 month high of $87.50. The company has a market cap of $19.49 billion, a PE ratio of 70.54, a price-to-earnings-growth ratio of 3.40 and a beta of 1.66. The stock has a 50 day moving average of $82.07 and a 200-day moving average of $73.26.

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, beating the consensus estimate of $0.63 by $0.08. The company had revenue of $875.70 million for the quarter, compared to the consensus estimate of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The firm's quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $0.62 EPS. As a group, equities analysts expect that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Institutional Trading of Trimble

Large investors have recently made changes to their positions in the company. Peapack Gladstone Financial Corp boosted its stake in Trimble by 2.6% during the second quarter. Peapack Gladstone Financial Corp now owns 5,008 shares of the scientific and technical instruments company's stock worth $381,000 after acquiring an additional 125 shares in the last quarter. MAI Capital Management increased its position in shares of Trimble by 4.7% during the second quarter. MAI Capital Management now owns 2,810 shares of the scientific and technical instruments company's stock valued at $213,000 after acquiring an additional 126 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in Trimble by 18.4% during the second quarter. Parkside Financial Bank & Trust now owns 907 shares of the scientific and technical instruments company's stock worth $69,000 after purchasing an additional 141 shares in the last quarter. Balboa Wealth Partners increased its stake in Trimble by 4.7% in the 2nd quarter. Balboa Wealth Partners now owns 3,204 shares of the scientific and technical instruments company's stock valued at $243,000 after buying an additional 144 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in shares of Trimble by 11.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,515 shares of the scientific and technical instruments company's stock worth $115,000 after buying an additional 159 shares in the last quarter. Institutional investors own 93.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TRMB shares. Oppenheimer raised 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 issued a $93.00 target price (up previously from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Wall Street Zen upgraded shares of Trimble from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Trimble from $96.00 to $98.00 and gave the stock an "overweight" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to MarketBeat.com, Trimble presently has an average rating of "Buy" and a consensus target price of $90.75.

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.