Insider Selling: Trimble (NASDAQ:TRMB) Director Sells $103,080.00 in Stock

Trimble Inc. (NASDAQ:TRMB) Director Kaigham Gabriel sold 1,718 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $60.00, for a total transaction of $103,080.00. Following the transaction, the director owned 17,426 shares in the company, valued at approximately $1,045,560. This represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Trimble Stock Performance

Shares of TRMB stock opened at $59.51 on Friday. The firm has a market cap of $13.87 billion, a price-to-earnings ratio of 31.32, a PEG ratio of 1.98 and a beta of 1.37. Trimble Inc. has a 52-week low of $47.92 and a 52-week high of $84.65. The company has a quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $53.25 and its 200 day moving average is $61.04.

Trimble (NASDAQ:TRMB) last posted its 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. Trimble had a return on equity of 11.61% and a net margin of 12.38%.The company had revenue of $939.90 million during the quarter, compared to analyst estimates of $905.60 million. During the same quarter in the prior year, the business earned $0.61 earnings per share. Trimble’s revenue was up 11.8% on a year-over-year basis. On average, sell-side analysts anticipate that Trimble Inc. will post 3.01 EPS for the current fiscal year.

Analysts Set New Price Targets

TRMB has been the subject of a number of analyst reports. Zacks Research cut Trimble from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Raymond James Financial downgraded shares of Trimble from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Wells Fargo & Company decreased their price target on shares of Trimble from $70.00 to $61.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Barclays lowered their price target on shares of Trimble from $103.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Finally, Piper Sandler cut their price objective on shares of Trimble from $97.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Trimble currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.62.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Trimble by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 30,570,278 shares of the scientific and technical instruments company’s stock valued at $2,395,181,000 after buying an additional 304,461 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Trimble during the second quarter worth about $1,096,304,000. State Street Corp grew its stake in shares of Trimble by 0.4% during the third quarter. State Street Corp now owns 10,951,409 shares of the scientific and technical instruments company’s stock worth $894,183,000 after acquiring an additional 43,285 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Trimble by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 6,309,075 shares of the scientific and technical instruments company’s stock valued at $492,426,000 after acquiring an additional 55,073 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Trimble by 126.0% during the fourth quarter. Wellington Management Group LLP now owns 6,199,706 shares of the scientific and technical instruments company’s stock valued at $485,747,000 after acquiring an additional 3,455,949 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Trimble Company Profile

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.