Trimble (NASDAQ:TRMB – Get Free Report) issued an update on its first quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.57-0.62 for the period, compared to the consensus earnings per share estimate of $0.67. The company issued revenue guidance of $905-935 million, compared to the consensus revenue estimate of $981.73 million. Trimble also updated its FY24 guidance to $2.60-2.80 EPS.
Trimble Stock Up 0.8 %
Shares of NASDAQ:TRMB opened at $52.51 on Monday. Trimble has a 52-week low of $39.57 and a 52-week high of $57.18. The stock has a market cap of $13.06 billion, a P/E ratio of 39.19, a price-to-earnings-growth ratio of 2.35 and a beta of 1.47. The business’s 50 day moving average is $50.95 and its 200 day moving average is $50.22. The company has a quick ratio of 1.07, a current ratio of 1.26 and a debt-to-equity ratio of 0.69.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the company. The Goldman Sachs Group lowered their target price on Trimble from $66.00 to $58.00 and set a buy rating for the company in a report on Thursday, November 2nd. JPMorgan Chase & Co. increased their price objective on Trimble from $48.00 to $56.00 and gave the company a neutral rating in a report on Friday. Piper Sandler increased their price objective on Trimble from $42.00 to $51.00 and gave the company a neutral rating in a report on Tuesday, January 9th. Finally, StockNews.com lowered Trimble from a buy rating to a hold rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $54.83.
Insiders Place Their Bets
In other Trimble news, SVP Darryl R. Matthews sold 3,000 shares of Trimble stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $46.47, for a total transaction of $139,410.00. Following the completion of the sale, the senior vice president now owns 50,638 shares of the company’s stock, valued at approximately $2,353,147.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Trimble news, SVP Darryl R. Matthews sold 3,000 shares of Trimble stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $46.47, for a total transaction of $139,410.00. Following the completion of the transaction, the senior vice president now owns 50,638 shares in the company, valued at approximately $2,353,147.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert G. Painter sold 2,500 shares of Trimble stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $51.05, for a total value of $127,625.00. Following the transaction, the chief executive officer now owns 203,856 shares of the company’s stock, valued at approximately $10,406,848.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,128 shares of company stock valued at $514,075. 0.61% of the stock is owned by company insiders.
Hedge Funds Weigh In On Trimble
Several institutional investors and hedge funds have recently modified their holdings of TRMB. IFP Advisors Inc increased its stake in Trimble by 798.1% during the 2nd quarter. IFP Advisors Inc now owns 467 shares of the scientific and technical instruments company’s stock worth $25,000 after buying an additional 415 shares in the last quarter. Clear Street Markets LLC boosted its holdings in shares of Trimble by 93.2% during the 1st quarter. Clear Street Markets LLC now owns 485 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 234 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Trimble during the 2nd quarter worth approximately $42,000. Belpointe Asset Management LLC boosted its holdings in shares of Trimble by 42.3% during the 1st quarter. Belpointe Asset Management LLC now owns 1,026 shares of the scientific and technical instruments company’s stock worth $54,000 after purchasing an additional 305 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Trimble by 349.8% during the 1st quarter. Brown Brothers Harriman & Co. now owns 1,799 shares of the scientific and technical instruments company’s stock worth $130,000 after purchasing an additional 1,399 shares during the last quarter. Hedge funds and other institutional investors own 90.20% of the company’s stock.
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 route selection and design; 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.
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