Trimble Inc (NASDAQ:TRMB) shares rose 5.1% during trading on Monday . The stock traded as high as $40.20 and last traded at $40.00. Approximately 2,237,239 shares were traded during trading, an increase of 116% from the average daily volume of 1,038,022 shares. The stock had previously closed at $38.07.

TRMB has been the topic of several recent research reports. Oppenheimer reaffirmed a “buy” rating on shares of Trimble in a report on Thursday, October 19th. Wells Fargo & Co raised their target price on shares of Trimble from $34.00 to $37.00 and gave the stock a “market perform” rating in a report on Friday, October 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 target price (up from $42.00) on shares of Trimble in a report on Sunday, October 29th. Zacks Investment Research raised shares of Trimble from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Tuesday, October 31st. Finally, BidaskClub cut shares of Trimble from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $42.10.

The firm has a market capitalization of $9,960.00, a P/E ratio of 85.11, a PEG ratio of 2.33 and a beta of 2.38. The company has a current ratio of 1.63, a quick ratio of 1.29 and a debt-to-equity ratio of 0.33.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Thursday, February 8th. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $708.40 million for the quarter, compared to analysts’ expectations of $674.84 million. Trimble had a net margin of 4.56% and a return on equity of 13.37%. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. sell-side analysts expect that Trimble Inc will post 1.46 EPS for the current fiscal year.

Trimble declared that its Board of Directors has initiated a share repurchase plan on Wednesday, November 15th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

In related news, SVP Sachin Sankpal sold 6,512 shares of Trimble stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $41.99, for a total value of $273,438.88. Following the transaction, the senior vice president now directly owns 17,997 shares of the company’s stock, valued at $755,694.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jurgen Kliem sold 995 shares of Trimble stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $42.50, for a total transaction of $42,287.50. Following the completion of the transaction, the vice president now directly owns 18,175 shares in the company, valued at $772,437.50. The disclosure for this sale can be found here. Insiders sold 46,579 shares of company stock worth $1,923,335 over the last three months. 1.40% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in Trimble by 1.2% in the fourth quarter. BlackRock Inc. now owns 23,195,889 shares of the scientific and technical instruments company’s stock valued at $942,682,000 after acquiring an additional 277,736 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Trimble by 0.4% during the third quarter. Bank of New York Mellon Corp now owns 8,243,002 shares of the scientific and technical instruments company’s stock worth $323,537,000 after buying an additional 33,278 shares during the last quarter. State Street Corp grew its stake in shares of Trimble by 0.4% during the second quarter. State Street Corp now owns 8,192,632 shares of the scientific and technical instruments company’s stock worth $292,228,000 after buying an additional 35,154 shares during the last quarter. Capital International Investors grew its stake in shares of Trimble by 0.5% during the third quarter. Capital International Investors now owns 8,068,056 shares of the scientific and technical instruments company’s stock worth $316,671,000 after buying an additional 38,431 shares during the last quarter. Finally, King Luther Capital Management Corp grew its stake in shares of Trimble by 2.1% during the fourth quarter. King Luther Capital Management Corp now owns 3,628,431 shares of the scientific and technical instruments company’s stock worth $147,459,000 after buying an additional 73,934 shares during the last quarter. 90.41% of the stock is currently owned by institutional investors and hedge funds.

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About Trimble

Trimble Inc, formerly Trimble Navigation Limited, is engaged in providing technology solutions that enable professionals and field mobile workers to transform their work processes. The Company’s solutions are used across a range of industries, including agriculture, architecture, civil engineering, survey and land administration, construction, geospatial, government, natural resources, transportation and utilities.

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