Trimble (NASDAQ:TRMB) Announces Earnings Results

Trimble (NASDAQ:TRMB) posted its quarterly earnings data on Wednesday. The scientific and technical instruments company reported $0.48 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.48, Morningstar.com reports. The firm had revenue of $855.80 million during the quarter, compared to the consensus estimate of $864.69 million. Trimble had a net margin of 9.05% and a return on equity of 16.15%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 EPS.

Shares of Trimble stock traded down $4.13 on Thursday, reaching $38.13. 2,657,073 shares of the stock were exchanged, compared to its average volume of 1,031,581. The firm’s 50 day simple moving average is $44.21. Trimble has a one year low of $29.75 and a one year high of $46.25. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 1.05. The stock has a market cap of $11.15 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 2.31 and a beta of 2.03.

In other news, insider James A. Kirkland sold 5,430 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $41.10, for a total transaction of $223,173.00. Following the completion of the sale, the insider now owns 39,939 shares of the company’s stock, valued at approximately $1,641,492.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Steven W. Berglund sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $42.15, for a total transaction of $4,215,000.00. Following the sale, the chief executive officer now directly owns 354,144 shares of the company’s stock, valued at approximately $14,927,169.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 138,946 shares of company stock valued at $5,840,276. 0.39% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Cleararc Capital Inc. bought a new position in Trimble in the 1st quarter valued at approximately $261,000. Geode Capital Management LLC lifted its stake in Trimble by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 2,660,376 shares of the scientific and technical instruments company’s stock valued at $87,497,000 after purchasing an additional 171,485 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Trimble by 26.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,040,597 shares of the scientific and technical instruments company’s stock valued at $34,240,000 after purchasing an additional 215,556 shares during the last quarter. Liberty Wealth Management LLC bought a new position in Trimble in the 4th quarter valued at approximately $36,000. Finally, PNC Financial Services Group Inc. lifted its stake in Trimble by 1.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 151,346 shares of the scientific and technical instruments company’s stock valued at $6,114,000 after purchasing an additional 2,356 shares during the last quarter. 91.89% of the stock is owned by institutional investors and hedge funds.

A number of analysts have issued reports on TRMB shares. Craig Hallum reissued a “hold” rating and issued a $35.00 price objective (down previously from $36.00) on shares of Trimble in a report on Thursday. ValuEngine downgraded shares of Trimble from a “buy” rating to a “hold” rating in a report on Thursday. JPMorgan Chase & Co. downgraded shares of Trimble from an “overweight” rating to a “neutral” rating and set a $46.00 price target for the company. in a report on Wednesday, July 10th. Zacks Investment Research downgraded shares of Trimble from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Finally, BidaskClub downgraded shares of Trimble from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 9th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Trimble currently has an average rating of “Hold” and a consensus target price of $43.50.

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 operates in four segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; building information modeling software; integrated site layout and measurement systems; applications for sub-contractors and trades; and integrated workplace management services software.

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Earnings History for Trimble (NASDAQ:TRMB)

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