Trimble Inc. (NASDAQ:TRMB) Short Interest Down 30.7% in April

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

Analyst Ratings Changes

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

Trimble Stock Performance

Shares of TRMB stock traded up $0.94 during midday trading on Friday, hitting $60.15. The company had a trading volume of 790,686 shares, compared to its average volume of 1,193,982. The company’s 50 day simple moving average is $61.72 and its 200 day simple moving average is $53.44. Trimble has a 52-week low of $39.57 and a 52-week high of $65.55. The stock has a market cap of $14.69 billion, a price-to-earnings ratio of 48.12, a PEG ratio of 2.65 and a beta of 1.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.00 and a quick ratio of 0.87.

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

Insider Transactions at Trimble

In related news, VP Jennifer Allison sold 5,000 shares of Trimble stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total transaction of $297,900.00. Following the completion of the sale, the vice president now owns 2,315 shares of the company’s stock, valued at $137,927.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Trimble news, VP Jennifer Allison sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $59.58, for a total value of $297,900.00. Following the completion of the transaction, the vice president now directly owns 2,315 shares of the company’s stock, valued at $137,927.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert G. Painter sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $62.93, for a total value of $220,255.00. Following the completion of the transaction, the chief executive officer now directly owns 187,055 shares of the company’s stock, valued at $11,771,371.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,828 shares of company stock worth $1,013,519. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Trimble

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Trimble by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 29,213,613 shares of the scientific and technical instruments company’s stock valued at $1,554,164,000 after purchasing an additional 273,863 shares during the period. Generation Investment Management LLP grew its position in Trimble by 89.5% during the fourth quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company’s stock valued at $652,787,000 after acquiring an additional 5,796,030 shares during the period. Morgan Stanley grew its position in Trimble by 10.0% during the third quarter. Morgan Stanley now owns 7,654,744 shares of the scientific and technical instruments company’s stock valued at $412,285,000 after acquiring an additional 694,842 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Trimble by 2.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,315,941 shares of the scientific and technical instruments company’s stock valued at $342,134,000 after acquiring an additional 126,472 shares during the period. Finally, Primecap Management Co. CA grew its position in Trimble by 3.9% during the fourth quarter. Primecap Management Co. CA now owns 5,025,141 shares of the scientific and technical instruments company’s stock valued at $267,338,000 after acquiring an additional 188,790 shares during the period. Hedge funds and other 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.