Does This Provide a Reason to Sell Trimble Inc. (TRMB)? The Stock Has Formed Bearish Double Bottom Chart Pattern

June 16, 2018 - By Winifred Garcia

Trimble Inc. (NASDAQ:TRMB) Logo

Investors sentiment decreased to 0.92 in 2018 Q1. Its down 0.26, from 1.18 in 2017Q4. It dived, as 34 investors sold Trimble Inc. shares while 134 reduced holdings. 43 funds opened positions while 112 raised stakes. 215.97 million shares or 0.15% less from 216.30 million shares in 2017Q4 were reported.
Essex Invest Ltd Liability Corporation invested in 88,614 shares or 0.42% of the stock. State Of Wisconsin Investment Board holds 0.03% or 293,536 shares in its portfolio. Eqis Cap Mgmt holds 9,689 shares or 0.02% of its portfolio. Metropolitan Life Insur Communication holds 80,537 shares or 0% of its portfolio. Schwab Charles Management holds 1.08 million shares. Quantbot L P stated it has 89,184 shares. Old Mutual Customised Solutions (Proprietary) Ltd stated it has 12,100 shares or 0.04% of all its holdings. Oppenheimer Asset owns 21,961 shares or 0.02% of their US portfolio. Cornerstone Advsr accumulated 1,614 shares or 0.04% of the stock. Creative Planning holds 0% in Trimble Inc. (NASDAQ:TRMB) or 29,417 shares. Moreover, Pictet Asset Management Limited has 0.24% invested in Trimble Inc. (NASDAQ:TRMB) for 2.74M shares. Toronto Dominion State Bank holds 0% of its portfolio in Trimble Inc. (NASDAQ:TRMB) for 17,234 shares. Goldman Sachs Grp Inc invested 0.01% in Trimble Inc. (NASDAQ:TRMB). Paloma Partners Management reported 46,506 shares. 173,818 are held by Eagle Ridge Mngmt.

Since February 13, 2018, it had 0 buys, and 11 insider sales for $27.27 million activity. Another trade for 2,649 shares valued at $91,682 was made by Kliem Jurgen on Thursday, May 24. KIRKLAND JAMES A had sold 7,200 shares worth $251,712. Shares for $1.90M were sold by JOHANSSON ULF J. BERGLUND STEVEN W had sold 200,000 shares worth $7.93 million on Wednesday, February 14. PAINTER ROBERT G sold $277,840 worth of Trimble Inc. (NASDAQ:TRMB) on Friday, February 16. Gabriel Kaigham sold $209,880 worth of stock.

The chart of Trimble Inc. (TRMB) shows a double bottom with $32.25 target or 9.00 % below today’s $35.44 share price. The 5 months chart pattern indicates high risk for the $8.83B company. It was reported on Jun, 16 by If the $32.25 price target is reached, the company will be worth $794.88 million less. Double bottoms are rare but powerful chart patterns.

The stock increased 0.11% or $0.04 during the last trading session, reaching $35.44. About 2.02M shares traded or 58.14% up from the average. Trimble Inc. (NASDAQ:TRMB) has declined 3.10% since June 16, 2017 and is downtrending. It has underperformed by 15.67% the S&P500.

Analysts await Trimble Inc. (NASDAQ:TRMB) to report earnings on August, 1. They expect $0.40 earnings per share, up 21.21 % or $0.07 from last year’s $0.33 per share. TRMB’s profit will be $99.68M for 22.15 P/E if the $0.40 EPS becomes a reality. After $0.39 actual earnings per share reported by Trimble Inc. for the previous quarter, Wall Street now forecasts 2.56 % EPS growth.

Trimble Inc. (NASDAQ:TRMB) Ratings Coverage

Among 5 analysts covering Trimble (NASDAQ:TRMB), 4 have Buy rating, 0 Sell and 1 Hold. Therefore 80% are positive. Trimble had 7 analyst reports since January 31, 2018 according to SRatingsIntel. The stock of Trimble Inc. (NASDAQ:TRMB) earned “Buy” rating by Berenberg on Tuesday, April 17. The stock of Trimble Inc. (NASDAQ:TRMB) has “Hold” rating given on Tuesday, May 8 by Craig Hallum. Oppenheimer maintained Trimble Inc. (NASDAQ:TRMB) on Wednesday, January 31 with “Outperform” rating. As per Friday, February 9, the company rating was maintained by Oppenheimer. The firm has “Buy” rating given on Wednesday, May 23 by Edward Jones.

Trimble Inc. provides technology solutions to enhance the work processes of office and mobile field professionals worldwide. The company has market cap of $8.83 billion. The companyÂ’s Engineering and Construction segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; building information modeling software; integrated site layout and measurement systems; applications for sub-contractors and trades; integrated workplace management services software; capital program and facility management solutions; field based data collection systems; and communication systems and back-office software. It has a 69.63 P/E ratio. The Company’s Field Solutions segment provides guidance and positioning, and automated application systems; and information management solutions, as well as systems to collect authoritative field data.

Trimble Inc. (NASDAQ:TRMB) Institutional Positions Chart

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