Christopher Keating Sells 7,365 Shares of Trimble (NASDAQ:TRMB) Stock

Trimble Inc. (NASDAQ:TRMB) VP Christopher Keating sold 7,365 shares of Trimble stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $81.74, for a total transaction of $602,015.10. Following the transaction, the vice president directly owned 406 shares in the company, valued at approximately $33,186.44. This represents a 94.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Trimble Price Performance

NASDAQ:TRMB opened at $82.04 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94. The stock’s 50-day simple moving average is $82.12 and its 200 day simple moving average is $73.32. The company has a market cap of $19.52 billion, a P/E ratio of 70.72, a P/E/G ratio of 3.37 and a beta of 1.66. Trimble Inc. has a 52-week low of $52.91 and a 52-week high of $87.50.

Trimble (NASDAQ:TRMB) last issued its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.08. The business had revenue of $875.70 million during the quarter, compared to the consensus estimate of $835.81 million. Trimble had a net margin of 8.02% and a return on equity of 10.24%. Trimble’s revenue was up .6% on a year-over-year basis. During the same period last year, the business posted $0.62 EPS. As a group, sell-side analysts forecast that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TRMB shares. Wall Street Zen raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. boosted their target price on shares of Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Oppenheimer upped their price objective on shares of Trimble from $88.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Finally, Raymond James Financial restated an “outperform” rating and issued a $93.00 target price (up previously from $85.00) on shares of Trimble in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to MarketBeat, Trimble currently has an average rating of “Buy” and an average target price of $90.75.

Institutional Trading of Trimble

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Peapack Gladstone Financial Corp increased its holdings in Trimble by 2.6% during the second quarter. Peapack Gladstone Financial Corp now owns 5,008 shares of the scientific and technical instruments company’s stock valued at $381,000 after buying an additional 125 shares during the last quarter. MAI Capital Management increased its stake in shares of Trimble by 4.7% in the second quarter. MAI Capital Management now owns 2,810 shares of the scientific and technical instruments company’s stock worth $213,000 after purchasing an additional 126 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Trimble by 18.4% in the second quarter. Parkside Financial Bank & Trust now owns 907 shares of the scientific and technical instruments company’s stock worth $69,000 after purchasing an additional 141 shares in the last quarter. Balboa Wealth Partners increased its stake in shares of Trimble by 4.7% in the second quarter. Balboa Wealth Partners now owns 3,204 shares of the scientific and technical instruments company’s stock worth $243,000 after purchasing an additional 144 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of Trimble by 11.7% in the second quarter. First Horizon Advisors Inc. now owns 1,515 shares of the scientific and technical instruments company’s stock worth $115,000 after purchasing an additional 159 shares in the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

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.