Trimble (NASDAQ:TRMB) Director Kaigham Gabriel Sells 1,718 Shares of Stock

Trimble Inc. (NASDAQ:TRMB) Director Kaigham Gabriel sold 1,718 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $60.00, for a total transaction of $103,080.00. Following the completion of the transaction, the director owned 17,426 shares in the company, valued at $1,045,560. This represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Trimble Stock Down 0.1%

Shares of NASDAQ:TRMB opened at $58.55 on Friday. The firm has a 50 day simple moving average of $53.18 and a 200-day simple moving average of $61.05. Trimble Inc. has a twelve month low of $47.92 and a twelve month high of $85.42. The company has a current ratio of 1.01, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $13.65 billion, a PE ratio of 30.82, a P/E/G ratio of 1.95 and a beta of 1.37.

Trimble (NASDAQ:TRMB) last posted its earnings results on Wednesday, May 6th. The scientific and technical instruments company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.07. Trimble had a net margin of 12.38% and a return on equity of 11.61%. The firm had revenue of $939.90 million for the quarter, compared to the consensus estimate of $905.60 million. During the same period last year, the firm posted $0.61 EPS. The company’s revenue was up 11.8% on a year-over-year basis. On average, equities analysts predict that Trimble Inc. will post 3.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Trimble

Several institutional investors have recently added to or reduced their stakes in TRMB. Vanguard Group Inc. lifted its position in Trimble by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 30,570,278 shares of the scientific and technical instruments company’s stock worth $2,395,181,000 after acquiring an additional 304,461 shares during the period. State Street Corp increased its holdings in shares of Trimble by 0.4% in the third quarter. State Street Corp now owns 10,951,409 shares of the scientific and technical instruments company’s stock valued at $894,183,000 after purchasing an additional 43,285 shares during the period. Geode Capital Management LLC raised its stake in shares of Trimble by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 6,309,075 shares of the scientific and technical instruments company’s stock worth $492,426,000 after purchasing an additional 55,073 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Trimble by 126.0% during the fourth quarter. Wellington Management Group LLP now owns 6,199,706 shares of the scientific and technical instruments company’s stock worth $485,747,000 after purchasing an additional 3,455,949 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Trimble by 19.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,217,742 shares of the scientific and technical instruments company’s stock worth $330,460,000 after purchasing an additional 675,134 shares during the period. Institutional investors and hedge funds own 93.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings cut Trimble from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. JPMorgan Chase & Co. cut their price target on Trimble from $88.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. Wells Fargo & Company reduced their price objective on Trimble from $70.00 to $61.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Piper Sandler decreased their price objective on Trimble from $97.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Finally, Barclays lowered their target price on shares of Trimble from $103.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $82.62.

About Trimble

Trimble Inc (NASDAQ: TRMB) is a technology company that develops hardware, software and services to improve the productivity and connectivity of customers across the construction, agriculture, geospatial, transportation and logistics, and natural resources sectors. The company’s offerings center on advanced positioning technologies — including GNSS/GPS receivers, inertial sensors and laser scanning — integrated with application-specific software and cloud services to enable precise measurement, modeling, machine control and workflow automation for field and office operations.

Trimble’s product portfolio spans surveying and geospatial instruments (total stations, mobile mapping and terrestrial laser scanners), construction solutions (machine control systems, site positioning and estimating), agriculture systems (auto-steer, guidance and application-control platforms), and fleet and transportation telematics.