Trimble (NASDAQ:TRMB) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Trimble Inc. (NASDAQ:TRMB)’s share price passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $60.68 and traded as low as $52.33. Trimble shares last traded at $54.25, with a volume of 6,877,163 shares.

Key Stories Impacting Trimble

Here are the key news stories impacting Trimble this week:

• Positive Sentiment: Trimble reported Q3 revenue of about $967 million, up 7.3% year over year, and adjusted EPS of $0.86, matching analysts’ estimates. The company also reported record annualized recurring revenue of $2.564 billion. Trimble Q3 results and guidance
• Neutral Sentiment: Management’s earnings call highlighted continued growth and progress on its Connect & Scale strategy, while acknowledging market headwinds. Earnings call highlights
• Negative Sentiment: The company lowered its growth outlook as the European freight market slowed. That guidance revision appears to have outweighed the modest revenue beat and recurring-revenue progress, prompting the sharp share-price decline. European freight slowdown and outlook

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein dropped their target price on shares of Trimble from $85.00 to $73.00 and set an “outperform” rating on the stock in a research report on Thursday, August 13th. Wall Street Zen upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Wells Fargo & Company decreased their price objective on shares of Trimble from $70.00 to $61.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Weiss Ratings upgraded shares of Trimble from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Finally, Raymond James Financial downgraded shares of Trimble from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Nine investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Trimble has an average rating of “Moderate Buy” and a consensus target price of $79.56.

Trimble Price Performance

The company has a 50-day moving average of $59.94 and a 200 day moving average of $60.68. The firm has a market cap of $12.65 billion, a P/E ratio of -110.71, a P/E/G ratio of 2.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.95.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Wednesday, November 4th. The scientific and technical instruments company reported $0.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.86. The firm had revenue of $966.80 million for the quarter, compared to the consensus estimate of $966.41 million. Trimble had a positive return on equity of 12.29% and a negative net margin of 2.77%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 EPS. On average, sell-side analysts anticipate that Trimble Inc. will post 3.10 EPS for the current year.

Insider Buying and Selling

In related news, Director Kaigham Gabriel sold 2,476 shares of Trimble stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $65.00, for a total transaction of $160,940.00. Following the completion of the transaction, the director owned 14,950 shares in the company, valued at approximately $971,750. This trade represents a 14.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.59% of the company’s stock.

Institutional Investors Weigh In On Trimble

Large investors have recently added to or reduced their stakes in the stock. New York Life Investment Management LLC grew its position in Trimble by 103.2% in the third quarter. New York Life Investment Management LLC now owns 66,163 shares of the scientific and technical instruments company’s stock worth $3,779,000 after buying an additional 33,595 shares during the last quarter. Fulcrum Asset Management LLP purchased a new stake in shares of Trimble in the third quarter worth approximately $521,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Trimble by 19.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,194 shares of the scientific and technical instruments company’s stock valued at $759,000 after acquiring an additional 2,122 shares in the last quarter. Brighton Jones LLC increased its position in Trimble by 5.6% in the 3rd quarter. Brighton Jones LLC now owns 4,559 shares of the scientific and technical instruments company’s stock worth $260,000 after purchasing an additional 242 shares during the last quarter. Finally, Ethic Inc. raised its position in Trimble by 27.4% during the third quarter. Ethic Inc. now owns 11,720 shares of the scientific and technical instruments company’s stock valued at $669,000 after acquiring an additional 2,524 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Company Profile

Trimble Inc develops technology solutions that connect the physical and digital worlds across construction, geospatial, transportation, agriculture, natural resources and other industrial markets. Its portfolio combines positioning technologies, field and office software, data services, connected devices and autonomous or machine-control systems to help customers plan, measure, build, manage and maintain physical assets.

The company’s products and services include surveying and mapping equipment, global navigation satellite system and positioning technologies, construction modeling and project-management software, machine-control systems, fleet and transportation-management solutions, and agricultural guidance and precision-farming tools.