Paloma Partners Management Co acquired a new stake in Trimble Navigation Ltd. (NASDAQ:TRMB) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,177 shares of the scientific and technical instruments company’s stock, valued at approximately $357,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Twin Tree Management LP bought a new position in Trimble Navigation during the first quarter valued at about $124,000. Huntington National Bank increased its position in Trimble Navigation by 1.8% in the first quarter. Huntington National Bank now owns 4,552 shares of the scientific and technical instruments company’s stock valued at $146,000 after buying an additional 82 shares during the last quarter. IFP Advisors Inc increased its position in Trimble Navigation by 34.8% in the first quarter. IFP Advisors Inc now owns 4,760 shares of the scientific and technical instruments company’s stock valued at $152,000 after buying an additional 1,228 shares during the last quarter. First Quadrant L P CA bought a new position in Trimble Navigation during the first quarter valued at about $155,000. Finally, Mn Services Vermogensbeheer B.V. increased its position in Trimble Navigation by 4.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 6,683 shares of the scientific and technical instruments company’s stock valued at $200,000 after buying an additional 313 shares during the last quarter. Institutional investors own 90.50% of the company’s stock.
Shares of Trimble Navigation Ltd. (NASDAQ TRMB) opened at 37.55 on Friday. The stock’s 50 day moving average is $36.62 and its 200 day moving average is $33.22. Trimble Navigation Ltd. has a 12 month low of $25.30 and a 12 month high of $37.95. The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of 58.67 and a beta of 2.30.
Trimble Navigation (NASDAQ:TRMB) last released its quarterly earnings results on Thursday, April 27th. The scientific and technical instruments company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by $0.01. Trimble Navigation had a return on equity of 12.28% and a net margin of 6.82%. The business had revenue of $613.90 million for the quarter, compared to the consensus estimate of $605.32 million. During the same period in the prior year, the business posted $0.28 earnings per share. Trimble Navigation’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts forecast that Trimble Navigation Ltd. will post $1.39 earnings per share for the current fiscal year.
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Several research firms have recently issued reports on TRMB. Zacks Investment Research downgraded shares of Trimble Navigation from a “buy” rating to a “hold” rating in a report on Monday, May 29th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $39.00 price objective (up previously from $38.00) on shares of Trimble Navigation in a report on Tuesday, June 13th. Piper Jaffray Companies reiterated a “buy” rating and set a $39.00 target price on shares of Trimble Navigation in a research report on Wednesday, July 12th. Dougherty & Co upgraded shares of Trimble Navigation from a “neutral” rating to a “buy” rating in a research report on Friday, April 28th. Finally, Craig Hallum lifted their target price on shares of Trimble Navigation from $24.00 to $30.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $34.43.
In other Trimble Navigation news, VP Julie A. Shepard sold 18,546 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $36.00, for a total value of $667,656.00. Following the transaction, the vice president now directly owns 11,128 shares of the company’s stock, valued at approximately $400,608. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark S. Peek sold 11,717 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $36.35, for a total transaction of $425,912.95. Following the completion of the transaction, the director now directly owns 30,000 shares in the company, valued at $1,090,500. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 200,263 shares of company stock worth $7,170,488. 1.40% of the stock is owned by insiders.
Trimble Navigation Company Profile
Trimble Inc, formerly Trimble Navigation Limited, 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. The Engineering and Construction segment serves customers working in architecture, engineering, construction, geospatial and government.
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