Trimble Inc. (NASDAQ:TRMB – Get Rating) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 1,970,000 shares, a growth of 24.7% from the April 30th total of 1,580,000 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average trading volume of 1,240,000 shares, the short-interest ratio is presently 1.6 days.
Shares of TRMB opened at $68.05 on Wednesday. The stock has a fifty day moving average of $68.11 and a two-hundred day moving average of $73.84. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 1.26. The company has a market capitalization of $17.02 billion, a PE ratio of 35.26, a price-to-earnings-growth ratio of 2.27 and a beta of 1.53. Trimble has a fifty-two week low of $59.89 and a fifty-two week high of $96.49.
Trimble (NASDAQ:TRMB – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The scientific and technical instruments company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. The company had revenue of $993.70 million during the quarter, compared to the consensus estimate of $967.25 million. Trimble had a return on equity of 15.20% and a net margin of 12.97%. Trimble’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 EPS. As a group, equities research analysts forecast that Trimble will post 2.41 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on TRMB shares. Raymond James lowered their price target on Trimble from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, February 10th. Robert W. Baird lowered their price objective on Trimble from $90.00 to $80.00 in a report on Friday, May 6th. Piper Sandler lifted their price objective on Trimble from $101.00 to $102.00 and gave the company an “overweight” rating in a report on Thursday, February 10th. StockNews.com began coverage on Trimble in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Morgan Stanley raised Trimble from an “underweight” rating to an “equal weight” rating and lowered their price objective for the company from $70.00 to $67.00 in a report on Monday, May 23rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $84.50.
In other Trimble news, Director Thomas W. Sweet purchased 1,500 shares of the business’s stock in a transaction on Monday, May 9th. The shares were bought at an average cost of $62.28 per share, for a total transaction of $93,420.00. Following the completion of the purchase, the director now directly owns 3,082 shares in the company, valued at $191,946.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas W. Sweet bought 600 shares of the business’s stock in a transaction dated Friday, May 20th. The shares were purchased at an average price of $64.25 per share, for a total transaction of $38,550.00. Following the transaction, the director now directly owns 3,682 shares of the company’s stock, valued at approximately $236,568.50. The disclosure for this purchase can be found here. Insiders purchased 2,300 shares of company stock valued at $144,364 over the last quarter. 0.43% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in TRMB. Select Equity Group L.P. grew its stake in shares of Trimble by 101.0% during the 1st quarter. Select Equity Group L.P. now owns 8,194,587 shares of the scientific and technical instruments company’s stock valued at $591,158,000 after buying an additional 4,118,552 shares during the period. Norges Bank purchased a new stake in Trimble during the 4th quarter worth $301,255,000. Thrivent Financial for Lutherans boosted its position in Trimble by 10,875.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,212,913 shares of the scientific and technical instruments company’s stock worth $105,754,000 after purchasing an additional 1,201,862 shares during the period. Impax Asset Management Group plc boosted its position in Trimble by 7.0% during the 4th quarter. Impax Asset Management Group plc now owns 8,512,207 shares of the scientific and technical instruments company’s stock worth $741,152,000 after purchasing an additional 555,983 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Trimble by 20.8% during the 1st quarter. Bank of New York Mellon Corp now owns 3,228,118 shares of the scientific and technical instruments company’s stock worth $232,875,000 after purchasing an additional 554,794 shares during the period. 91.47% of the stock is owned by institutional investors.
About Trimble (Get Rating)
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 route selection and design; 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.