Insider Selling: Trimble Inc (TRMB) CEO Sells 200,000 Shares of Stock

Trimble Inc (NASDAQ:TRMB) CEO Steven W. Berglund sold 200,000 shares of Trimble stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $39.25, for a total value of $7,850,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Trimble Inc (NASDAQ TRMB) traded up $0.74 on Wednesday, reaching $40.01. The company had a trading volume of 1,330,000 shares, compared to its average volume of 1,050,000. Trimble Inc has a one year low of $30.45 and a one year high of $45.70. The company has a current ratio of 1.63, a quick ratio of 1.29 and a debt-to-equity ratio of 0.33. The stock has a market cap of $9,960.00, a PE ratio of 85.13, a P/E/G ratio of 2.46 and a beta of 2.38.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Thursday, February 8th. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.02. Trimble had a return on equity of 13.37% and a net margin of 4.56%. The company had revenue of $708.40 million during the quarter, compared to analysts’ expectations of $674.84 million. During the same quarter in the previous year, the business earned $0.31 EPS. Trimble’s revenue was up 21.0% compared to the same quarter last year. sell-side analysts anticipate that Trimble Inc will post 1.45 EPS for the current fiscal year.

Trimble declared that its board has initiated a share buyback plan on Wednesday, November 15th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the scientific and technical instruments company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. TIAA CREF Investment Management LLC boosted its holdings in Trimble by 34.8% during the 4th quarter. TIAA CREF Investment Management LLC now owns 1,446,459 shares of the scientific and technical instruments company’s stock valued at $58,784,000 after acquiring an additional 373,139 shares during the period. Teachers Advisors LLC boosted its holdings in Trimble by 51.1% during the 4th quarter. Teachers Advisors LLC now owns 1,033,001 shares of the scientific and technical instruments company’s stock valued at $41,981,000 after acquiring an additional 349,348 shares during the period. Two Sigma Securities LLC purchased a new position in Trimble during the 4th quarter valued at $219,000. Robecosam AG boosted its holdings in Trimble by 39.4% during the 4th quarter. Robecosam AG now owns 356,913 shares of the scientific and technical instruments company’s stock valued at $14,623,000 after acquiring an additional 100,814 shares during the period. Finally, Stone Ridge Asset Management LLC purchased a new position in Trimble during the 4th quarter valued at $921,000. Institutional investors own 90.41% of the company’s stock.

A number of equities analysts have recently commented on TRMB shares. Oppenheimer reiterated a “buy” rating on shares of Trimble in a report on Thursday, October 19th. Wells Fargo & Co lifted their target price on Trimble from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Friday, October 27th. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 target price (up previously from $42.00) on shares of Trimble in a report on Sunday, October 29th. Zacks Investment Research upgraded Trimble from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Tuesday, October 31st. Finally, BidaskClub cut Trimble from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 7th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Trimble currently has an average rating of “Hold” and a consensus price target of $42.10.

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About Trimble

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.

Insider Buying and Selling by Quarter for Trimble (NASDAQ:TRMB)

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