Trimble Inc (NASDAQ:TRMB) Director Ulf J. Johansson sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $38.07, for a total transaction of $1,903,500.00. Following the transaction, the director now owns 42,670 shares of the company’s stock, valued at approximately $1,624,446.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Trimble Inc (NASDAQ:TRMB) traded down $0.31 during midday trading on Wednesday, reaching $38.61. 769,848 shares of the company were exchanged, compared to its average volume of 1,098,881. Trimble Inc has a 12-month low of $30.45 and a 12-month high of $45.70. The firm has a market cap of $9,769.28, a PE ratio of 82.58, a price-to-earnings-growth ratio of 2.34 and a beta of 2.41. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.29 and a current ratio of 1.63.
Trimble (NASDAQ:TRMB) last released its quarterly earnings results on Thursday, February 8th. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. Trimble had a net margin of 4.56% and a return on equity of 13.37%. The company had revenue of $708.40 million for the quarter, compared to analysts’ expectations of $674.84 million. During the same period last year, the company earned $0.31 EPS. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. analysts predict that Trimble Inc will post 1.5 earnings per share for the current year.
Trimble announced that its board has initiated a stock buyback program on Wednesday, November 15th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the scientific and technical instruments company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several institutional investors have recently added to or reduced their stakes in TRMB. Ark Investment Management LLC boosted its stake in shares of Trimble by 38.0% during the 2nd quarter. Ark Investment Management LLC now owns 48,462 shares of the scientific and technical instruments company’s stock worth $1,729,000 after purchasing an additional 13,357 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Trimble by 5.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 10,052 shares of the scientific and technical instruments company’s stock worth $359,000 after purchasing an additional 521 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of Trimble by 22.3% during the 3rd quarter. Nationwide Fund Advisors now owns 1,116,362 shares of the scientific and technical instruments company’s stock worth $43,817,000 after purchasing an additional 203,752 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Trimble by 35.0% during the 3rd quarter. First Trust Advisors LP now owns 412,804 shares of the scientific and technical instruments company’s stock worth $16,203,000 after purchasing an additional 107,030 shares during the last quarter. Finally, Korea Investment CORP acquired a new stake in shares of Trimble during the 3rd quarter worth about $318,000. 90.00% of the stock is currently owned by institutional investors.
TRMB has been the subject of a number of recent research reports. BidaskClub cut shares of Trimble from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. Zacks Investment Research upgraded shares of Trimble from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. TheStreet downgraded shares of Trimble from a “b” rating to a “c+” rating in a report on Thursday, February 8th. Finally, Oppenheimer set a $50.00 price target on shares of Trimble and gave the company a “buy” rating in a report on Friday, February 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Trimble has an average rating of “Hold” and a consensus price target of $42.10.
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Trimble Inc, formerly Trimble Navigation Limited, is engaged in providing technology solutions that enable professionals and field mobile workers to transform their work processes. The Company’s solutions are used across a range of industries, including agriculture, architecture, civil engineering, survey and land administration, construction, geospatial, government, natural resources, transportation and utilities.
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