Trimble (NASDAQ:TRMB) Stock Price Down 6.2% Following Insider Selling

Trimble Inc. (NASDAQ:TRMB) was down 6.2% during trading on Friday following insider selling activity. The company traded as low as $73.97 and last traded at $73.6640. Approximately 1,935,413 shares were traded during mid-day trading, an increase of 31% from the average daily volume of 1,479,656 shares. The stock had previously closed at $78.57.

Specifically, CEO Robert G. Painter sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $80.88, for a total value of $606,600.00. Following the completion of the sale, the chief executive officer directly owned 34,397 shares of the company’s stock, valued at approximately $2,782,029.36. This represents a 17.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Analyst Ratings Changes

TRMB has been the subject of a number of research reports. KeyCorp raised Trimble from a “sector weight” rating to an “overweight” rating and set a $99.00 price target for the company in a research note on Monday, December 15th. JPMorgan Chase & Co. raised their target price on Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Trimble in a report on Wednesday, October 8th. Wells Fargo & Company started coverage on shares of Trimble in a research note on Thursday, November 13th. They set an “overweight” rating and a $94.00 target price for the company. Finally, Barclays lifted their price target on shares of Trimble from $100.00 to $101.00 and gave the stock an “overweight” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Trimble currently has an average rating of “Moderate Buy” and a consensus target price of $96.78.

Trimble Price Performance

The stock’s 50 day simple moving average is $79.92 and its 200-day simple moving average is $80.52. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.00 and a quick ratio of 0.86. The stock has a market capitalization of $17.63 billion, a price-to-earnings ratio of 50.66, a PEG ratio of 2.78 and a beta of 1.59.

Trimble (NASDAQ:TRMB) last released its quarterly earnings results on Wednesday, November 5th. The scientific and technical instruments company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.09. Trimble had a return on equity of 10.73% and a net margin of 9.93%.The company had revenue of $901.20 million during the quarter, compared to the consensus estimate of $870.30 million. During the same quarter in the prior year, the company posted $0.83 EPS. The firm’s revenue was up 2.9% on a year-over-year basis. Trimble has set its FY 2025 guidance at 3.040-3.120 EPS and its Q4 2025 guidance at 0.910-0.990 EPS. On average, analysts expect that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Trimble announced that its Board of Directors has initiated a stock repurchase program on Friday, December 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the scientific and technical instruments company to buy up to 5.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Trimble

Several large investors have recently bought and sold shares of the stock. SG Americas Securities LLC raised its stake in shares of Trimble by 30.9% in the 3rd quarter. SG Americas Securities LLC now owns 96,052 shares of the scientific and technical instruments company’s stock valued at $7,843,000 after purchasing an additional 22,650 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Trimble by 31.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 146,283 shares of the scientific and technical instruments company’s stock worth $11,944,000 after buying an additional 35,015 shares in the last quarter. CX Institutional boosted its stake in shares of Trimble by 11.7% during the 2nd quarter. CX Institutional now owns 7,054 shares of the scientific and technical instruments company’s stock worth $536,000 after buying an additional 739 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Trimble by 123.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 237,294 shares of the scientific and technical instruments company’s stock valued at $19,375,000 after acquiring an additional 131,056 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Trimble by 8.0% in the second quarter. Swiss National Bank now owns 744,000 shares of the scientific and technical instruments company’s stock valued at $56,529,000 after acquiring an additional 55,300 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Company Profile

Trimble Inc (NASDAQ: TRMB) is a technology company that develops hardware, software and services to improve the productivity and connectivity of customers across the construction, agriculture, geospatial, transportation and logistics, and natural resources sectors. The company’s offerings center on advanced positioning technologies — including GNSS/GPS receivers, inertial sensors and laser scanning — integrated with application-specific software and cloud services to enable precise measurement, modeling, machine control and workflow automation for field and office operations.

Trimble’s product portfolio spans surveying and geospatial instruments (total stations, mobile mapping and terrestrial laser scanners), construction solutions (machine control systems, site positioning and estimating), agriculture systems (auto-steer, guidance and application-control platforms), and fleet and transportation telematics.