Trimble Inc. (NASDAQ:TRMB) Trading Down – Shorts Up 52.87%


Investors are more bearish on shares of Trimble Inc. recently as shown by the rise in short interest. The company saw a rise in short interest between August 15, 2017 and August 31, 2017 of 52.87%. Short shares grew from 2,062,575 to 3,153,120 over that period. Days to cover increased 1.0 to 3.0 and the percentage of shorted shares is 0.01% as of August 31.

There has been some selling insider activity on Trimble Inc. (NASDAQ:TRMB) recently. VP James A. Kirkland sold 365 shares at an average price of $38.68 on Thu the 31st. The VP now owns $45,140 of the stock per an SEC filing yesterday. VP James A. Kirkland let go of 7,183 shares at an average price of $37.41 on Fri the 18th. That brings Kirkland’s holdings to $546,118 as recorded in a recent Form 4 SEC filing.

A few notable investment firms have updated their holdings. As of quarter end Perigon Wealth Management, LLC had sold a total of 5,060 shares trimming its position 28.5%. The value of the company’s investment in Trimble Inc. decreased from $569,000 to $453,000 decreasing 20.4% quarter over quarter. As of the end of the quarter Baird Financial Group, Inc. had disposed of 32,292 shares trimming its holdings by 3.0%. The value in dollars went from $34,761,000 to $37,584,000 a change of $2,823,000 for the reporting period.

As of quarter end Edge Asset Management, Inc had sold a total of 33,542 shares trimming its stake by 9.9%. The value of the investment in TRMB decreased from $10,231,000 to $9,788,000 a change of 4.3% quarter to quarter. As of the end of the quarter Janus Capital Management LLC had disposed of 535,300 shares trimming its holdings by 64.2%. The value of the total investment in Trimble Inc. went from $25,152,000 to $9,569,000 a change of 62.0% since the last quarter.

On August 23, 2017 Berenberg began coverage of the stock with a rating of “Hold”. On August 17 Morgan Stanley maintained a stock rating of “Equal-Weight” and raised the price expectation from $20.00 to $38.00.

The company is now down by 0.74%% since yesterday’s close of 40.14. Shares are trading at $39.85 which is slightly above $38.19, the 50 day moving average and quite a bit higher than the 200 day moving average of $35.51. The 50 day moving average was up $1.66 or +4.342% and the 200 day average went up $4.34 or +12.220%.

The company currently has a P/E ratio of 57.746 and the market cap of the company is 10.09B. In the latest earnings report the EPS was $0.69 and is estimated to be $1.43 for the current year with 253,150,000 shares presently outstanding. Next quarter’s EPS is estimated at $0.36 and the next full year EPS is projected to be $1.66.

Trimble Inc., formerly Trimble Navigation Limited, launched on August 10, 2016, provides technology solutions for professionals and field mobile workers. The Company operates through four segments: Engineering and Construction, Field Solutions, Mobile Solutions and Advanced Devices. Its products integrate real-time positioning or location technologies with wireless communications and software or information technologies..