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

Trimble Inc. (NASDAQ:TRMB) was the target of a large decline in short interest in 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 daily volume of 1,490,000 shares, the days-to-cover ratio is currently 1.3 days. Approximately 0.8% of the shares of the company are sold short.

Trimble Trading Up 1.6 %

Shares of Trimble stock opened at $60.15 on Monday. The firm has a market capitalization of $14.69 billion, a PE ratio of 48.12, a price-to-earnings-growth ratio of 2.70 and a beta of 1.50. The company has a current ratio of 1.00, a quick ratio of 0.87 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $61.72 and its 200 day moving average is $53.52. Trimble has a 1 year low of $39.57 and a 1 year high of $65.55.

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Trimble news, SVP Peter Large sold 1,447 shares of Trimble stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total value of $85,517.70. Following the completion of the sale, the senior vice president now owns 8,220 shares in the company, valued at approximately $485,802. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Robert G. Painter sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $54.75, for a total value of $136,875.00. Following the completion of the transaction, the chief executive officer now directly owns 239,901 shares in the company, valued at approximately $13,134,579.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Peter Large sold 1,447 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $59.10, for a total transaction of $85,517.70. Following the completion of the transaction, the senior vice president now owns 8,220 shares of the company’s stock, valued at $485,802. The disclosure for this sale can be found here. Insiders sold 16,828 shares of company stock worth $1,013,519 in the last quarter. 0.47% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trimble

Institutional investors have recently added to or reduced their stakes in the business. Schonfeld Strategic Advisors LLC grew its holdings in Trimble by 383.0% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 220,587 shares of the scientific and technical instruments company’s stock worth $11,881,000 after acquiring an additional 174,917 shares during the last quarter. Barclays PLC grew its holdings in Trimble by 43.6% during the 3rd quarter. Barclays PLC now owns 580,280 shares of the scientific and technical instruments company’s stock worth $31,254,000 after acquiring an additional 176,139 shares during the last quarter. Hunter Associates Investment Management LLC grew its holdings in Trimble by 51.3% during the 4th quarter. Hunter Associates Investment Management LLC now owns 40,988 shares of the scientific and technical instruments company’s stock worth $2,185,000 after acquiring an additional 13,899 shares during the last quarter. Raymond James & Associates grew its holdings in Trimble by 126.1% during the 4th quarter. Raymond James & Associates now owns 133,858 shares of the scientific and technical instruments company’s stock worth $7,121,000 after acquiring an additional 74,667 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Trimble by 3.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,321,336 shares of the scientific and technical instruments company’s stock worth $178,887,000 after acquiring an additional 95,588 shares during the last quarter. 93.21% of the stock is owned by institutional investors.

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.