Robert Painter Sells 7,500 Shares of Trimble (NASDAQ:TRMB) Stock

Trimble Inc. (NASDAQ:TRMB) CEO Robert Painter sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $81.39, for a total transaction of $610,425.00. Following the completion of the transaction, the chief executive officer owned 41,897 shares of the company’s stock, valued at $3,409,996.83. The trade was a 15.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Trimble Stock Performance

NASDAQ TRMB opened at $80.26 on Friday. The firm’s 50 day simple moving average is $79.60 and its 200 day simple moving average is $79.26. The firm has a market capitalization of $19.10 billion, a price-to-earnings ratio of 54.97, a P/E/G ratio of 3.26 and a beta of 1.60. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 0.24. Trimble Inc. has a 1 year low of $52.91 and a 1 year high of $87.50.

Trimble (NASDAQ:TRMB) last released its 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 return on equity of 10.73% and a net margin of 9.93%. As a group, research analysts expect that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Trimble announced that its board has authorized a stock repurchase plan on Friday, December 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the scientific and technical instruments company to purchase up to 5.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Trimble

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Trimble by 0.6% during the third quarter. Vanguard Group Inc. now owns 30,265,817 shares of the scientific and technical instruments company’s stock worth $2,471,204,000 after purchasing an additional 192,288 shares during the period. State Street Corp raised its position in Trimble by 0.4% during the 3rd quarter. State Street Corp now owns 10,951,409 shares of the scientific and technical instruments company’s stock worth $894,183,000 after purchasing an additional 43,285 shares during the last quarter. Generation Investment Management LLP lifted its holdings in Trimble by 19.1% during the 2nd quarter. Generation Investment Management LLP now owns 9,019,663 shares of the scientific and technical instruments company’s stock worth $685,314,000 after buying an additional 1,449,315 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Trimble by 26.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,978,106 shares of the scientific and technical instruments company’s stock valued at $458,113,000 after buying an additional 1,445,851 shares during the last quarter. Finally, Boston Partners increased its stake in shares of Trimble by 14.4% in the second quarter. Boston Partners now owns 4,170,179 shares of the scientific and technical instruments company’s stock valued at $318,285,000 after buying an additional 525,214 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TRMB shares. Berenberg Bank set a $95.00 target price on Trimble and gave the company a “buy” rating in a research report on Friday, October 3rd. Oppenheimer reiterated an “outperform” rating and set a $102.00 price objective on shares of Trimble in a research report on Thursday, November 6th. Piper Sandler reissued an “overweight” rating and issued a $97.00 price objective on shares of Trimble in a research note on Friday, November 7th. Zacks Research raised shares of Trimble from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 11th. Finally, Barclays assumed coverage on shares of Trimble in a report on Tuesday, October 7th. They set an “overweight” rating and a $100.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Trimble presently has a consensus rating of “Buy” and a consensus target price of $95.67.

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.