Trimble Inc. (NASDAQ:TRMB) Sees Significant Decrease in Short Interest

Trimble Inc. (NASDAQ:TRMB) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 2,010,000 shares, a drop of 30.7% from the March 31st total of 2,900,000 shares. Based on an average daily trading volume, of 1,490,000 shares, the short-interest ratio is currently 1.3 days. Approximately 0.8% of the company’s stock are short sold.

Trimble Stock Performance

Shares of TRMB opened at $60.15 on Friday. The company has a market capitalization of $14.69 billion, a PE ratio of 48.12, a price-to-earnings-growth ratio of 2.70 and a beta of 1.50. Trimble has a one year low of $39.57 and a one year high of $65.55. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.00 and a quick ratio of 0.87. The company’s fifty day moving average price is $61.72 and its 200 day moving average price is $53.51.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Monday, February 12th. The scientific and technical instruments company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. Trimble had a net margin of 8.19% and a return on equity of 12.59%. The company had revenue of $932.40 million for the quarter, compared to the consensus estimate of $908.43 million. During the same quarter in the previous year, the firm posted $0.52 EPS. The business’s revenue was up 8.9% compared to the same quarter last year. As a group, analysts expect that Trimble will post 2.23 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TRMB shares. Robert W. Baird raised their price target on shares of Trimble from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, February 13th. StockNews.com downgraded shares of Trimble from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. Piper Sandler reiterated an “overweight” rating and issued a $73.00 target price on shares of Trimble in a report on Monday, April 15th. JPMorgan Chase & Co. lifted their target price on shares of Trimble from $48.00 to $56.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, Oppenheimer lifted their target price on shares of Trimble from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Trimble currently has an average rating of “Moderate Buy” and a consensus target price of $64.83.

Insider Buying and Selling at Trimble

In other Trimble news, CEO Robert G. Painter sold 2,500 shares of Trimble stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total transaction of $136,875.00. Following the completion of the sale, the chief executive officer now owns 239,901 shares of the company’s stock, valued at approximately $13,134,579.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Robert G. Painter sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total transaction of $136,875.00. Following the transaction, the chief executive officer now owns 239,901 shares in the company, valued at approximately $13,134,579.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert G. Painter sold 3,500 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $62.93, for a total transaction of $220,255.00. Following the transaction, the chief executive officer now owns 187,055 shares in the company, valued at approximately $11,771,371.15. The disclosure for this sale can be found here. Insiders sold 16,828 shares of company stock valued at $1,013,519 in the last quarter. Company insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Frazier Financial Advisors LLC bought a new position in shares of Trimble during the 4th quarter worth about $26,000. Operose Advisors LLC bought a new position in shares of Trimble during the 3rd quarter worth about $43,000. Principal Securities Inc. bought a new position in shares of Trimble during the 4th quarter worth about $52,000. Sound Income Strategies LLC increased its holdings in shares of Trimble by 171.9% during the 1st quarter. Sound Income Strategies LLC now owns 998 shares of the scientific and technical instruments company’s stock worth $64,000 after purchasing an additional 631 shares during the period. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Trimble during the 4th quarter valued at about $67,000. Institutional investors own 93.21% of the company’s stock.

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.