Trimble Inc. (NASDAQ:TRMB) was the recipient of a large growth in short interest during the month of October. As of October 29th, there was short interest totalling 2,980,000 shares, a growth of 20.6% from the October 14th total of 2,470,000 shares. Based on an average trading volume of 1,090,000 shares, the days-to-cover ratio is presently 2.7 days. Currently, 1.2% of the company’s stock are sold short.
In other news, Director James Calvin Dalton sold 3,778 shares of the firm’s stock in a transaction dated Monday, November 15th. The shares were sold at an average price of $87.47, for a total value of $330,461.66. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Steven W. Berglund sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 7th. The stock was sold at an average price of $94.76, for a total transaction of $4,738,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,038 shares of company stock worth $10,800,666. Insiders own 0.48% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Hanlon Investment Management Inc. acquired a new position in shares of Trimble in the 3rd quarter worth approximately $932,000. National Pension Service grew its stake in shares of Trimble by 0.5% in the 3rd quarter. National Pension Service now owns 418,244 shares of the scientific and technical instruments company’s stock worth $34,401,000 after purchasing an additional 1,910 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Trimble in the 3rd quarter worth approximately $551,000. Kentucky Retirement Systems grew its stake in shares of Trimble by 2.6% in the 3rd quarter. Kentucky Retirement Systems now owns 14,991 shares of the scientific and technical instruments company’s stock worth $1,233,000 after purchasing an additional 377 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Trimble in the 3rd quarter worth approximately $716,000. 90.00% of the stock is currently owned by institutional investors.
Trimble stock opened at $88.65 on Friday. The stock has a market cap of $22.25 billion, a price-to-earnings ratio of 40.30, a PEG ratio of 3.75 and a beta of 1.54. The company has a current ratio of 1.37, a quick ratio of 1.08 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $86.55 and its two-hundred day moving average price is $84.55. Trimble has a 52 week low of $57.41 and a 52 week high of $96.49.
Trimble (NASDAQ:TRMB) last released its earnings results on Wednesday, November 3rd. The scientific and technical instruments company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.18. The firm had revenue of $901.40 million for the quarter, compared to analysts’ expectations of $877.53 million. Trimble had a net margin of 15.65% and a return on equity of 15.41%. During the same quarter last year, the company earned $0.52 EPS. Research analysts expect that Trimble will post 2.28 earnings per share for the current fiscal year.
TRMB has been the topic of several recent research reports. Piper Sandler initiated coverage on shares of Trimble in a research report on Thursday, October 14th. They issued an “overweight” rating and a $101.00 price objective on the stock. Morgan Stanley cut shares of Trimble from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $80.00 to $74.00 in a research note on Thursday, September 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $78.20.
Trimble Company Profile
Trimble, Inc engages in the provision of positioning technology solutions. It operates through the following segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment serves architects, engineers, contractors, owners, and operators.