Trimble Inc. (NASDAQ:TRMB) Sees Significant Decrease in Short Interest

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. Currently, 0.8% of the shares of the stock are short sold. Based on an average trading volume of 1,490,000 shares, the days-to-cover ratio is currently 1.3 days.

Insider Buying and Selling at Trimble

In other Trimble news, CEO Robert G. Painter sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $62.93, for a total transaction of $220,255.00. Following the completion of the transaction, the chief executive officer now directly owns 187,055 shares in the company, valued at approximately $11,771,371.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Trimble news, CEO Robert G. Painter sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $62.93, for a total transaction of $220,255.00. Following the sale, the chief executive officer now directly owns 187,055 shares of the company’s stock, valued at approximately $11,771,371.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert G. Painter sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $54.75, for a total transaction of $136,875.00. Following the sale, the chief executive officer now directly owns 239,901 shares in the company, valued at $13,134,579.75. The disclosure for this sale can be found here. In the last three months, insiders sold 16,828 shares of company stock worth $1,013,519. 0.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Davies Financial Advisors Inc. purchased a new stake in shares of Trimble during the first quarter valued at approximately $252,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Trimble by 243.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 216,102 shares of the scientific and technical instruments company’s stock valued at $13,908,000 after purchasing an additional 153,160 shares during the period. NBT Bank N A NY purchased a new stake in shares of Trimble during the first quarter valued at approximately $231,000. Fifth Third Bancorp raised its stake in shares of Trimble by 9.7% during the first quarter. Fifth Third Bancorp now owns 8,057 shares of the scientific and technical instruments company’s stock valued at $519,000 after purchasing an additional 714 shares during the period. Finally, Summit Trail Advisors LLC purchased a new stake in shares of Trimble during the first quarter valued at approximately $283,000. 93.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TRMB has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Trimble from $48.00 to $56.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. StockNews.com cut shares of Trimble from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Robert W. Baird raised their target price on shares of Trimble from $59.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 13th. Piper Sandler reissued an “overweight” rating and issued a $73.00 target price on shares of Trimble in a research report on Monday, April 15th. Finally, Oppenheimer raised their target price on shares of 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $64.83.

Trimble Trading Up 1.6 %

Shares of TRMB stock opened at $60.15 on Friday. The stock has a market cap of $14.69 billion, a price-to-earnings ratio of 48.12, a price-to-earnings-growth ratio of 2.70 and a beta of 1.50. The company has a quick ratio of 0.87, a current ratio of 1.00 and a debt-to-equity ratio of 0.56. Trimble has a fifty-two week low of $39.57 and a fifty-two week high of $65.55. The firm’s 50 day moving average price is $61.72 and its two-hundred day moving average price is $53.51.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings results on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $932.40 million for the quarter, compared to analysts’ expectations of $908.43 million. Trimble had a net margin of 8.19% and a return on equity of 12.59%. Trimble’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 earnings per share. On average, analysts anticipate that Trimble will post 2.23 EPS for the current 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'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.