Trimble (NASDAQ:TRMB) CEO Sells $567,375.00 in Stock

Trimble Inc. (NASDAQ:TRMB) CEO Robert Painter sold 7,500 shares of the business’s stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $75.65, for a total transaction of $567,375.00. Following the completion of the sale, the chief executive officer directly owned 92,379 shares of the company’s stock, valued at approximately $6,988,471.35. The trade was a 7.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Trimble Stock Performance

TRMB opened at $77.40 on Friday. The firm’s fifty day simple moving average is $80.70 and its two-hundred day simple moving average is $74.69. Trimble Inc. has a 52-week low of $52.91 and a 52-week high of $87.50. The company has a market cap of $18.42 billion, a price-to-earnings ratio of 66.72, a PEG ratio of 3.18 and a beta of 1.65. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB) last released its quarterly earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share for the quarter. The firm had revenue of $856.50 million during the quarter. Trimble had a net margin of 8.02% and a return on equity of 10.24%. Equities analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trimble

Hedge funds have recently modified their holdings of the company. Brighton Jones LLC purchased a new position in Trimble during the fourth quarter worth about $211,000. Farther Finance Advisors LLC raised its position in shares of Trimble by 153.5% during the 1st quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company’s stock valued at $64,000 after buying an additional 591 shares during the period. GAMMA Investing LLC lifted its holdings in Trimble by 25.1% in the first quarter. GAMMA Investing LLC now owns 5,275 shares of the scientific and technical instruments company’s stock valued at $346,000 after acquiring an additional 1,059 shares during the last quarter. Fifth Third Bancorp grew its position in Trimble by 6.3% in the first quarter. Fifth Third Bancorp now owns 8,218 shares of the scientific and technical instruments company’s stock worth $540,000 after acquiring an additional 490 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Trimble by 7.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,876 shares of the scientific and technical instruments company’s stock worth $2,355,000 after acquiring an additional 2,397 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Wall Street Analyst Weigh In

TRMB has been the topic of several research reports. Oppenheimer raised their target price 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 price objective (up from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Barclays initiated coverage on shares of Trimble in a research note on Tuesday, October 7th. They set an “overweight” rating and a $100.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Finally, Berenberg Bank set a $95.00 price target on shares of Trimble and gave the stock a “buy” rating in a research report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $92.10.

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.