Trimble (NASDAQ:TRMB) CFO Phillip Sawarynski Sells 2,250 Shares of Stock

Trimble Inc. (NASDAQ:TRMB) CFO Phillip Sawarynski sold 2,250 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $80.45, for a total transaction of $181,012.50. Following the completion of the transaction, the chief financial officer directly owned 25,684 shares in the company, valued at approximately $2,066,277.80. This represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Trimble Stock Up 1.3%

Shares of NASDAQ TRMB opened at $79.91 on Friday. The stock has a market cap of $19.01 billion, a PE ratio of 54.73, a P/E/G ratio of 3.08 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 12-month low of $52.91 and a 12-month high of $87.50. The company has a 50-day moving average of $79.59 and a 200 day moving average of $79.49.

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 business had revenue of $856.50 million for the quarter. Trimble had a net margin of 9.93% and a return on equity of 10.73%. As a group, sell-side analysts predict that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Trimble announced that its Board of Directors has initiated a share repurchase program on Friday, December 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the scientific and technical instruments company to repurchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Trimble

Institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC purchased a new position in shares of Trimble during the 4th quarter worth approximately $211,000. Public Sector Pension Investment Board raised its position in Trimble by 8.5% in the first quarter. Public Sector Pension Investment Board now owns 38,300 shares of the scientific and technical instruments company’s stock valued at $2,514,000 after purchasing an additional 3,011 shares during the period. American Century Companies Inc. lifted its stake in Trimble by 11.5% during the first quarter. American Century Companies Inc. now owns 17,192 shares of the scientific and technical instruments company’s stock worth $1,129,000 after purchasing an additional 1,771 shares in the last quarter. Cresset Asset Management LLC boosted its position in shares of Trimble by 14.6% during the first quarter. Cresset Asset Management LLC now owns 12,921 shares of the scientific and technical instruments company’s stock worth $848,000 after buying an additional 1,642 shares during the period. Finally, Raymond James Financial Inc. boosted its position in shares of Trimble by 296.5% during the first quarter. Raymond James Financial Inc. now owns 741,514 shares of the scientific and technical instruments company’s stock worth $48,680,000 after buying an additional 554,514 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TRMB has been the topic of several recent research reports. Piper Sandler reissued an “overweight” rating and set a $97.00 price target on shares of Trimble in a research report on Friday, November 7th. Oppenheimer reiterated an “outperform” rating and issued a $102.00 target price on shares of Trimble in a report on Thursday, November 6th. KeyCorp raised shares of Trimble from a “sector weight” rating to an “overweight” rating and set a $99.00 price target for the company in a research note on Monday. Barclays began 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Trimble in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $96.67.

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.