Investors Buy High Volume of Trimble Put Options (NASDAQ:TRMB)

Trimble Inc. (NASDAQ:TRMB) was the recipient of unusually large options trading on Monday. Investors purchased 16,767 put options on the stock. This represents an increase of 870% compared to the average volume of 1,729 put options.

Insider Buying and Selling

In other news, Director James Calvin Dalton sold 2,141 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $71.79, for a total transaction of $153,702.39. Following the completion of the transaction, the director now directly owns 10,162 shares of the company’s stock, valued at approximately $729,529.98. This represents a 17.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jennifer Allison sold 3,571 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $74.75, for a total value of $266,932.25. Following the completion of the sale, the vice president now directly owns 3,157 shares in the company, valued at $235,985.75. This represents a 53.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,421 shares of company stock worth $831,683 over the last ninety days. 0.47% of the stock is owned by insiders.

Institutional Investors Weigh In On Trimble

A number of hedge funds have recently bought and sold shares of TRMB. Intech Investment Management LLC boosted its stake in Trimble by 10.2% during the 3rd quarter. Intech Investment Management LLC now owns 5,298 shares of the scientific and technical instruments company’s stock valued at $329,000 after purchasing an additional 489 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Trimble by 20.3% during the third quarter. The Manufacturers Life Insurance Company now owns 185,151 shares of the scientific and technical instruments company’s stock worth $11,496,000 after buying an additional 31,286 shares during the last quarter. Public Sector Pension Investment Board boosted its position in shares of Trimble by 12.8% in the third quarter. Public Sector Pension Investment Board now owns 10,584 shares of the scientific and technical instruments company’s stock valued at $657,000 after acquiring an additional 1,200 shares during the period. Vinva Investment Management Ltd acquired a new stake in shares of Trimble in the third quarter worth $330,000. Finally, Captrust Financial Advisors increased its position in Trimble by 9.1% during the third quarter. Captrust Financial Advisors now owns 63,309 shares of the scientific and technical instruments company’s stock worth $3,931,000 after acquiring an additional 5,302 shares during the period. 93.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TRMB has been the subject of several recent analyst reports. JPMorgan Chase & Co. upgraded shares of Trimble from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $74.00 to $92.00 in a report on Wednesday, December 4th. Cfra upgraded shares of Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a research report on Thursday, February 20th. Piper Sandler reissued an “overweight” rating and set a $84.00 target price on shares of Trimble in a research note on Wednesday, December 11th. Oppenheimer upped their price target on shares of Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, Sanford C. Bernstein lifted their target price on shares of Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Trimble currently has an average rating of “Buy” and an average target price of $86.00.

Trimble Stock Performance

Shares of NASDAQ:TRMB traded down $0.69 during trading on Monday, reaching $64.84. The stock had a trading volume of 244,703 shares, compared to its average volume of 1,366,372. Trimble has a 52 week low of $48.65 and a 52 week high of $77.78. The stock has a fifty day simple moving average of $72.15 and a two-hundred day simple moving average of $69.03. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $15.94 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 3.09 and a beta of 1.57.

About Trimble

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 project design and visualization; 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.