Trimble Inc (NASDAQ:TRMB) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 2,830,000 shares, a drop of 16.8% from the September 30th total of 3,400,000 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,070,000 shares, the short-interest ratio is presently 2.6 days.
TRMB has been the topic of a number of research reports. ValuEngine downgraded Trimble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Craig Hallum restated a “hold” rating and set a $35.00 price target (down previously from $36.00) on shares of Trimble in a research report on Thursday, August 1st. Finally, BidaskClub downgraded Trimble from a “buy” rating to a “hold” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating, Trimble has an average rating of “Hold” and a consensus price target of $42.33.
In other Trimble news, SVP Darryl R. Matthews sold 2,095 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $39.66, for a total transaction of $83,087.70. Also, CEO Steven W. Berglund sold 308,575 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $40.18, for a total value of $12,398,543.50. Following the sale, the chief executive officer now owns 640,605 shares in the company, valued at approximately $25,739,508.90. The disclosure for this sale can be found here. Insiders sold 338,135 shares of company stock worth $13,581,720 in the last quarter. 0.39% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC boosted its position in shares of Trimble by 68.3% in the 3rd quarter. Parallel Advisors LLC now owns 806 shares of the scientific and technical instruments company’s stock worth $31,000 after purchasing an additional 327 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Trimble by 4.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 9,650 shares of the scientific and technical instruments company’s stock worth $375,000 after acquiring an additional 400 shares during the last quarter. World Asset Management Inc raised its holdings in Trimble by 3.5% in the 2nd quarter. World Asset Management Inc now owns 13,785 shares of the scientific and technical instruments company’s stock worth $622,000 after acquiring an additional 461 shares during the last quarter. Security National Bank raised its holdings in Trimble by 1.1% in the 2nd quarter. Security National Bank now owns 44,946 shares of the scientific and technical instruments company’s stock worth $2,028,000 after acquiring an additional 487 shares during the last quarter. Finally, CSat Investment Advisory L.P. purchased a new position in Trimble in the 2nd quarter worth approximately $26,000. 90.44% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ TRMB opened at $39.66 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. The stock’s 50-day simple moving average is $39.09 and its two-hundred day simple moving average is $40.54. Trimble has a twelve month low of $29.75 and a twelve month high of $46.25. The company has a market capitalization of $9.76 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 3.12 and a beta of 2.03.
Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Wednesday, October 30th. The scientific and technical instruments company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. Trimble had a return on equity of 15.63% and a net margin of 9.97%. The firm had revenue of $874.30 million for the quarter, compared to analysts’ expectations of $807.49 million. During the same period in the previous year, the firm posted $0.49 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities analysts expect that Trimble will post 1.68 earnings per share for the current fiscal year.
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 operates in four segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; building information modeling software; integrated site layout and measurement systems; applications for sub-contractors and trades; and integrated workplace management services software.
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