Trimble Target of Unusually Large Options Trading (NASDAQ:TRMB)

Trimble Inc. (NASDAQ:TRMB) saw unusually large options trading activity on Thursday. Stock traders purchased 8,502 put options on the company. This is an increase of 3,287% compared to the average daily volume of 251 put options.

Insiders Place Their Bets

In other Trimble news, VP Jennifer Allison sold 3,156 shares of Trimble stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $80.00, for a total transaction of $252,480.00. Following the sale, the vice president directly owned 2,882 shares of the company’s stock, valued at approximately $230,560. The trade was a 52.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Mark David Schwartz sold 1,404 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $80.00, for a total value of $112,320.00. Following the completion of the transaction, the vice president directly owned 21,001 shares of the company’s stock, valued at $1,680,080. This represents a 6.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 230,357 shares of company stock valued at $19,181,521 over the last ninety days. 0.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Trimble

Several large investors have recently bought and sold shares of TRMB. Catalyst Capital Advisors LLC purchased a new stake in shares of Trimble during the 2nd quarter valued at about $34,000. Geneos Wealth Management Inc. boosted its holdings in Trimble by 55.4% in the second quarter. Geneos Wealth Management Inc. now owns 474 shares of the scientific and technical instruments company’s stock worth $36,000 after purchasing an additional 169 shares during the last quarter. Central Pacific Bank Trust Division grew its position in Trimble by 174.9% in the 1st quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company’s stock worth $37,000 after purchasing an additional 355 shares during the period. Flaharty Asset Management LLC purchased a new stake in Trimble during the 1st quarter valued at $45,000. Finally, Osterweis Capital Management Inc. lifted its holdings in shares of Trimble by 5,790.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 589 shares of the scientific and technical instruments company’s stock valued at $45,000 after buying an additional 579 shares during the period. 93.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TRMB shares. Raymond James Financial restated an “outperform” rating and set a $93.00 target price (up previously from $85.00) on shares of Trimble in a report on Thursday, August 7th. Wall Street Zen raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. raised their target price on shares of Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Finally, Oppenheimer lifted their target price on shares of Trimble from $88.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. According to MarketBeat, Trimble presently has an average rating of “Buy” and an average target price of $90.75.

Trimble Price Performance

Shares of TRMB opened at $79.98 on Friday. Trimble has a twelve month low of $52.91 and a twelve month high of $87.50. The company has a market capitalization of $19.03 billion, a P/E ratio of 68.95, a price-to-earnings-growth ratio of 3.28 and a beta of 1.66. The firm has a 50 day moving average of $82.06 and a 200 day moving average of $73.46. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB) last issued its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.63 by $0.08. The business had revenue of $875.70 million for the quarter, compared to the consensus estimate of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The company’s revenue was up .6% compared to the same quarter last year. During the same period last year, the business posted $0.62 EPS. As a group, equities research analysts anticipate that Trimble will post 2.37 earnings per share for the current fiscal year.

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.