Trimble Inc (NASDAQ:TRMB) Short Interest Down 15.3% in July

Trimble Inc (NASDAQ:TRMB) was the target of a large decline in short interest in July. As of July 31st, there was short interest totalling 3,962,100 shares, a decline of 15.3% from the June 30th total of 4,679,700 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,120,000 shares, the days-to-cover ratio is presently 3.5 days.

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. downgraded Trimble from an “overweight” rating to a “neutral” rating and set a $46.00 price target for the company. in a research report on Wednesday, July 10th. BidaskClub downgraded Trimble from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 9th. Craig Hallum reiterated a “hold” rating and set a $35.00 price target (down previously from $36.00) on shares of Trimble in a research report on Thursday, August 1st. ValuEngine downgraded Trimble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research downgraded Trimble from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $43.50.

In other Trimble news, VP Ronald Bisio sold 6,000 shares of Trimble stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $42.41, for a total transaction of $254,460.00. Following the completion of the transaction, the vice president now owns 9,938 shares of the company’s stock, valued at approximately $421,470.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert G. Painter sold 5,300 shares of Trimble stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $44.00, for a total value of $233,200.00. Following the transaction, the chief financial officer now directly owns 60,697 shares of the company’s stock, valued at approximately $2,670,668. The disclosure for this sale can be found here. Insiders have sold a total of 37,230 shares of company stock valued at $1,551,488 in the last ninety days. Insiders own 0.39% of the company’s stock.

A number of hedge funds have recently made changes to their positions in TRMB. Point72 Hong Kong Ltd purchased a new stake in Trimble in the second quarter worth $313,000. California State Teachers Retirement System grew its stake in shares of Trimble by 2.4% in the second quarter. California State Teachers Retirement System now owns 426,297 shares of the scientific and technical instruments company’s stock worth $19,230,000 after acquiring an additional 9,802 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of Trimble in the second quarter worth $4,654,000. Man Group plc grew its stake in shares of Trimble by 10.0% in the second quarter. Man Group plc now owns 9,994 shares of the scientific and technical instruments company’s stock worth $451,000 after acquiring an additional 909 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Trimble by 6.5% in the second quarter. Invesco Ltd. now owns 1,709,100 shares of the scientific and technical instruments company’s stock worth $77,098,000 after acquiring an additional 104,615 shares during the last quarter. Hedge funds and other institutional investors own 92.00% of the company’s stock.

NASDAQ:TRMB traded down $1.09 during mid-day trading on Wednesday, reaching $36.53. The stock had a trading volume of 837,000 shares, compared to its average volume of 1,052,351. The company has a 50 day moving average price of $42.82. The company has a market capitalization of $9.47 billion, a PE ratio of 21.62, a P/E/G ratio of 2.25 and a beta of 1.98. Trimble has a one year low of $29.75 and a one year high of $46.25. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

Trimble (NASDAQ:TRMB) last released its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $0.48 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.48. Trimble had a return on equity of 15.96% and a net margin of 9.80%. The company had revenue of $855.80 million during the quarter, compared to the consensus estimate of $864.69 million. During the same quarter in the previous year, the company posted $0.50 EPS. Trimble’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities research analysts anticipate that Trimble will post 1.7 earnings per share for the current year.

About Trimble

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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