Trimble Inc. (NASDAQ:TRMB) Short Interest Down 30.7% in April

Trimble Inc. (NASDAQ:TRMB) was the recipient of a large drop in short interest in April. As of April 15th, there was short interest totalling 2,010,000 shares, a drop of 30.7% from the March 31st total of 2,900,000 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily volume of 1,490,000 shares, the days-to-cover ratio is presently 1.3 days.

Insider Buying and Selling at Trimble

In other Trimble news, CEO Robert G. Painter sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total value of $136,875.00. Following the sale, the chief executive officer now owns 239,901 shares of the company’s stock, valued at approximately $13,134,579.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Robert G. Painter sold 2,500 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total value of $136,875.00. Following the completion of the transaction, the chief executive officer now directly owns 239,901 shares in the company, valued at approximately $13,134,579.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jennifer Allison sold 5,000 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $59.58, for a total value of $297,900.00. Following the completion of the transaction, the vice president now owns 2,315 shares of the company’s stock, valued at $137,927.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,828 shares of company stock valued at $1,013,519. 0.47% of the stock is currently owned by corporate insiders.

Institutional Trading of Trimble

Large investors have recently made changes to their positions in the company. Frazier Financial Advisors LLC acquired a new position in Trimble during the 4th quarter valued at about $26,000. Operose Advisors LLC acquired a new position in Trimble during the 3rd quarter valued at about $43,000. Principal Securities Inc. acquired a new position in Trimble during the 4th quarter valued at about $52,000. Sound Income Strategies LLC boosted its stake in Trimble by 171.9% during the 1st quarter. Sound Income Strategies LLC now owns 998 shares of the scientific and technical instruments company’s stock valued at $64,000 after purchasing an additional 631 shares during the last quarter. Finally, Criterion Capital Advisors LLC acquired a new position in Trimble during the 4th quarter valued at about $67,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Trading Up 1.6 %

Shares of TRMB stock traded up $0.94 during mid-day trading on Friday, hitting $60.15. The company’s stock had a trading volume of 790,686 shares, compared to its average volume of 1,193,982. The company’s fifty day simple moving average is $61.72 and its 200-day simple moving average is $53.44. Trimble has a 52 week low of $39.57 and a 52 week high of $65.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.87 and a current ratio of 1.00. The company has a market cap of $14.69 billion, a PE ratio of 48.12, a P/E/G ratio of 2.65 and a beta of 1.50.

Trimble (NASDAQ:TRMB) last issued its earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. The company had revenue of $932.40 million during the quarter, compared to the consensus estimate of $908.43 million. Trimble had a return on equity of 12.59% and a net margin of 8.19%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the business posted $0.52 EPS. As a group, equities research analysts expect that Trimble will post 2.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

TRMB has been the subject of a number of research reports. StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. Robert W. Baird raised their target price on Trimble from $59.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 13th. Piper Sandler reaffirmed an “overweight” rating and set a $73.00 target price on shares of Trimble in a research report on Monday, April 15th. JPMorgan Chase & Co. raised their target price on Trimble from $48.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, Oppenheimer raised their target price on Trimble from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, March 14th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.83.

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.