Trimble Inc. (NASDAQ:TRMB – Get Free Report) Director Kaigham Gabriel sold 2,476 shares of Trimble stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $65.00, for a total value of $160,940.00. Following the completion of the sale, the director owned 14,950 shares in the company, valued at approximately $971,750. This trade represents a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Kaigham Gabriel also recently made the following trade(s):
- On Tuesday, August 4th, Kaigham Gabriel sold 1,718 shares of Trimble stock. The stock was sold at an average price of $60.00, for a total transaction of $103,080.00.
Trimble Stock Performance
Shares of NASDAQ:TRMB opened at $54.25 on Thursday. Trimble Inc. has a one year low of $47.92 and a one year high of $84.42. The company has a market cap of $12.65 billion, a P/E ratio of -110.71, a PEG ratio of 2.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.95. The business’s 50-day simple moving average is $59.94 and its 200 day simple moving average is $60.68.
Trimble (NASDAQ:TRMB – Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The scientific and technical instruments company reported $0.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.86. The business had revenue of $966.80 million for the quarter, compared to analysts’ expectations of $966.41 million. Trimble had a positive return on equity of 12.29% and a negative net margin of 2.77%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 EPS. On average, sell-side analysts forecast that Trimble Inc. will post 3.10 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
TRMB has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Trimble from $76.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, October 8th. Sanford C. Bernstein dropped their price objective on shares of Trimble from $85.00 to $73.00 and set an “outperform” rating on the stock in a report on Thursday, August 13th. Wells Fargo & Company reduced their target price on Trimble from $70.00 to $61.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Piper Sandler restated an “overweight” rating and issued a $87.00 price objective on shares of Trimble in a research report on Thursday, August 13th. Finally, Weiss Ratings raised Trimble from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Nine investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $79.56.
Check Out Our Latest Stock Report on Trimble
Key Stories Impacting Trimble
Here are the key news stories impacting Trimble this week:
- Positive Sentiment: Trimble reported Q3 revenue of about $967 million, up 7.3% year over year, and adjusted EPS of $0.86, matching analysts’ estimates. The company also reported record annualized recurring revenue of $2.564 billion. Trimble Q3 results and guidance
- Neutral Sentiment: Management’s earnings call highlighted continued growth and progress on its Connect & Scale strategy, while acknowledging market headwinds. Earnings call highlights
- Negative Sentiment: The company lowered its growth outlook as the European freight market slowed. That guidance revision appears to have outweighed the modest revenue beat and recurring-revenue progress, prompting the sharp share-price decline. European freight slowdown and outlook
Hedge Funds Weigh In On Trimble
Institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Trimble during the second quarter worth approximately $1,096,304,000. State Street Corp increased its position in shares of Trimble by 7.9% in the 2nd quarter. State Street Corp now owns 11,644,706 shares of the scientific and technical instruments company’s stock valued at $595,976,000 after purchasing an additional 849,549 shares during the last quarter. Generation Investment Management LLP acquired a new stake in shares of Trimble in the 2nd quarter valued at $367,994,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Trimble by 5.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,687,967 shares of the scientific and technical instruments company’s stock valued at $267,730,000 after purchasing an additional 239,499 shares in the last quarter. Finally, Primecap Management Co. CA acquired a new position in shares of Trimble during the second quarter worth $200,405,000. Institutional investors own 93.21% of the company’s stock.
Trimble Company Profile
Trimble Inc develops technology solutions that connect the physical and digital worlds across construction, geospatial, transportation, agriculture, natural resources and other industrial markets. Its portfolio combines positioning technologies, field and office software, data services, connected devices and autonomous or machine-control systems to help customers plan, measure, build, manage and maintain physical assets.
The company’s products and services include surveying and mapping equipment, global navigation satellite system and positioning technologies, construction modeling and project-management software, machine-control systems, fleet and transportation-management solutions, and agricultural guidance and precision-farming tools.
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