Craig Hallum reaffirmed their hold rating on shares of Trimble Navigation Ltd. (NASDAQ:TRMB) in a research note issued to investors on Wednesday morning. They currently have a $36.00 price target on the scientific and technical instruments company’s stock, up from their prior price target of $30.00.
Several other research analysts have also recently issued reports on TRMB. Zacks Investment Research cut Trimble Navigation from a hold rating to a sell rating in a research note on Tuesday, April 11th. Needham & Company LLC increased their price target on Trimble Navigation from $33.00 to $37.00 and gave the stock a buy rating in a research note on Friday, April 28th. Dougherty & Co raised Trimble Navigation from a neutral rating to a buy rating in a research note on Friday, April 28th. Oppenheimer Holdings, Inc. increased their price target on Trimble Navigation from $34.00 to $38.00 and gave the stock an outperform rating in a research note on Monday, May 1st. Finally, Piper Jaffray Companies reissued a buy rating and issued a $39.00 price target on shares of Trimble Navigation in a research note on Wednesday, July 12th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Trimble Navigation presently has a consensus rating of Buy and an average price target of $41.00.
Shares of Trimble Navigation (NASDAQ:TRMB) opened at 36.48 on Wednesday. Trimble Navigation has a 12 month low of $25.30 and a 12 month high of $39.45. The firm’s 50 day moving average is $37.06 and its 200 day moving average is $34.00. The stock has a market capitalization of $9.23 billion, a price-to-earnings ratio of 52.87 and a beta of 2.31.
Trimble Navigation (NASDAQ:TRMB) last released its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.02. Trimble Navigation had a return on equity of 12.71% and a net margin of 7.25%. The business had revenue of $661.90 million during the quarter, compared to the consensus estimate of $643.05 million. During the same period in the previous year, the company posted $0.29 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities analysts predict that Trimble Navigation will post $1.43 earnings per share for the current fiscal year.
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In related news, VP James Veneziano sold 9,426 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $35.73, for a total transaction of $336,790.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 value of $425,912.95. Following the transaction, the director now directly owns 30,000 shares of the company’s stock, valued at approximately $1,090,500. The disclosure for this sale can be found here. Insiders have sold 110,061 shares of company stock valued at $4,032,293 in the last ninety days. Company insiders own 1.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in TRMB. Winslow Evans & Crocker Inc. boosted its position in shares of Trimble Navigation by 27.9% in the first quarter. Winslow Evans & Crocker Inc. now owns 40,986 shares of the scientific and technical instruments company’s stock valued at $1,312,000 after buying an additional 8,950 shares in the last quarter. State Treasurer State of Michigan boosted its position in shares of Trimble Navigation by 1.6% in the first quarter. State Treasurer State of Michigan now owns 102,500 shares of the scientific and technical instruments company’s stock valued at $3,281,000 after buying an additional 1,600 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Trimble Navigation by 7.3% in the first quarter. Ameriprise Financial Inc. now owns 1,260,381 shares of the scientific and technical instruments company’s stock valued at $40,337,000 after buying an additional 85,816 shares in the last quarter. Johanson Financial Advisors Inc. purchased a new position in shares of Trimble Navigation during the first quarter valued at $4,948,000. Finally, AXA boosted its position in shares of Trimble Navigation by 34.5% in the first quarter. AXA now owns 800,111 shares of the scientific and technical instruments company’s stock valued at $25,612,000 after buying an additional 205,120 shares in the last quarter. 90.40% of the stock is owned by institutional investors and hedge funds.
About Trimble Navigation
Trimble Inc, formerly Trimble Navigation Limited, is engaged in providing technology solutions that enable professionals and field mobile workers to transform their work processes. The Company’s solutions are used across a range of industries, including agriculture, architecture, civil engineering, survey and land administration, construction, geospatial, government, natural resources, transportation and utilities.
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