Jennifer Allison Sells 3,156 Shares of Trimble Inc. (NASDAQ:TRMB) Stock

Trimble Inc. (NASDAQ:TRMB) VP Jennifer Allison sold 3,156 shares of the business’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $80.00, for a total value of $252,480.00. Following the completion of the sale, the vice president directly owned 2,882 shares in the company, valued at $230,560. This trade represents a 52.27% 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 Down 0.9%

TRMB stock opened at $79.47 on Wednesday. Trimble Inc. has a 1-year low of $48.65 and a 1-year high of $81.66. The business has a fifty day moving average price of $73.33 and a 200-day moving average price of $70.13. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.72. The stock has a market capitalization of $18.96 billion, a P/E ratio of 12.96, a P/E/G ratio of 3.42 and a beta of 1.67.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $840.60 million during the quarter, compared to analysts’ expectations of $810.45 million. Trimble had a return on equity of 9.87% and a net margin of 42.40%. Trimble’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. Equities analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TRMB has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on Trimble from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Piper Sandler restated an “overweight” rating and issued a $84.00 price target on shares of Trimble in a research note on Thursday, May 8th. Finally, Wall Street Zen cut Trimble from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Trimble currently has an average rating of “Buy” and a consensus price target of $89.43.

Institutional Trading of Trimble

A number of hedge funds have recently bought and sold shares of the company. TD Private Client Wealth LLC increased its position in Trimble by 5.1% during the second quarter. TD Private Client Wealth LLC now owns 5,688 shares of the scientific and technical instruments company’s stock valued at $432,000 after acquiring an additional 278 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Trimble by 2.1% during the second quarter. Public Employees Retirement System of Ohio now owns 157,218 shares of the scientific and technical instruments company’s stock valued at $11,945,000 after acquiring an additional 3,288 shares during the last quarter. Alhambra Investment Management LLC purchased a new stake in Trimble during the second quarter valued at $216,000. Fifth Third Bancorp increased its position in Trimble by 51.1% during the second quarter. Fifth Third Bancorp now owns 12,420 shares of the scientific and technical instruments company’s stock valued at $944,000 after acquiring an additional 4,202 shares during the last quarter. Finally, Forte Capital LLC ADV purchased a new stake in Trimble in the second quarter worth about $209,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

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.