Trimble (NASDAQ:TRMB) Announces Quarterly Earnings Results

Trimble (NASDAQ:TRMBGet Free Report) issued its quarterly earnings results on Monday. The scientific and technical instruments company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05, MarketWatch Earnings reports. Trimble had a return on equity of 12.87% and a net margin of 8.97%. The company had revenue of $932.40 million during the quarter, compared to analyst estimates of $908.43 million. During the same period in the previous year, the company earned $0.52 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Trimble updated its Q1 guidance to $0.57-0.62 EPS and its FY24 guidance to $2.60-2.80 EPS.

Trimble Price Performance

Shares of TRMB stock opened at $54.69 on Tuesday. The stock’s fifty day moving average is $51.11 and its 200-day moving average is $50.23. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.07 and a current ratio of 1.26. The stock has a market capitalization of $13.61 billion, a PE ratio of 40.81, a PEG ratio of 2.35 and a beta of 1.47. Trimble has a 52 week low of $39.57 and a 52 week high of $56.44.

Insider Transactions at Trimble

In other Trimble news, Director Mark S. Peek bought 10,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were bought at an average price of $46.59 per share, for a total transaction of $465,900.00. Following the completion of the acquisition, the director now owns 81,562 shares of the company’s stock, valued at $3,799,973.58. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Darryl R. Matthews sold 3,000 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $46.47, for a total transaction of $139,410.00. Following the transaction, the senior vice president now owns 50,638 shares of the company’s stock, valued at $2,353,147.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark S. Peek purchased 10,000 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were purchased at an average cost of $46.59 per share, for a total transaction of $465,900.00. Following the purchase, the director now directly owns 81,562 shares of the company’s stock, valued at $3,799,973.58. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 6,764 shares of company stock worth $328,823. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Trimble

Several large investors have recently made changes to their positions in TRMB. Moneta Group Investment Advisors LLC lifted its stake in Trimble by 86,928.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,426,266 shares of the scientific and technical instruments company’s stock valued at $223,792,000 after buying an additional 4,421,180 shares during the period. Morgan Stanley raised its position in shares of Trimble by 283.9% during the fourth quarter. Morgan Stanley now owns 5,530,548 shares of the scientific and technical instruments company’s stock worth $279,625,000 after purchasing an additional 4,089,901 shares during the period. Norges Bank acquired a new stake in shares of Trimble during the fourth quarter worth about $162,931,000. Price T Rowe Associates Inc. MD raised its position in shares of Trimble by 131.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,550,902 shares of the scientific and technical instruments company’s stock worth $290,979,000 after purchasing an additional 3,155,709 shares during the period. Finally, Amundi raised its position in shares of Trimble by 113.5% during the fourth quarter. Amundi now owns 2,946,710 shares of the scientific and technical instruments company’s stock worth $153,048,000 after purchasing an additional 1,566,650 shares during the period. Institutional investors and hedge funds own 90.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a research report on Saturday. Piper Sandler upgraded Trimble from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $51.00 to $68.00 in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Trimble from $48.00 to $56.00 and gave the company a “neutral” rating in a research report on Friday. Finally, The Goldman Sachs Group lowered their price objective on Trimble from $66.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $57.67.

Read Our Latest Analysis on TRMB

About Trimble

(Get Free Report)

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.

See Also

Earnings History for Trimble (NASDAQ:TRMB)

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