Trimble Navigation Ltd. (NASDAQ:TRMB)‘s stock had its “hold” rating reiterated by research analysts at Craig Hallum in a research report issued to clients and investors on Wednesday, August 9th. They currently have a $36.00 price objective on the scientific and technical instruments company’s stock, up from their previous price objective of $30.00. Craig Hallum’s price target points to a potential downside of 3.51% from the stock’s previous close.
Several other equities analysts have also issued reports on TRMB. Zacks Investment Research lowered Trimble Navigation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub lowered Trimble Navigation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Dougherty & Co lifted their price target on Trimble Navigation from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Needham & Company LLC reissued a “buy” rating and set a $42.00 price objective (up previously from $37.00) on shares of Trimble Navigation in a report on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $41.00 price objective (up previously from $39.00) on shares of Trimble Navigation in a report on Friday, August 4th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $40.57.
Trimble Navigation (NASDAQ TRMB) traded up 0.27% during midday trading on Wednesday, reaching $37.31. The company’s stock had a trading volume of 784,562 shares. Trimble Navigation has a 1-year low of $25.30 and a 1-year high of $39.45. The firm has a market capitalization of $9.45 billion, a PE ratio of 54.07 and a beta of 2.31. The firm has a 50 day moving average price of $37.20 and a 200 day moving average price of $34.26.
Trimble Navigation (NASDAQ:TRMB) last issued 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 net margin of 7.25% and a return on equity of 12.71%. The business had revenue of $661.90 million during the quarter, compared to the consensus estimate of $643.05 million. During the same quarter in the previous year, the business posted $0.29 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts predict that Trimble Navigation will post $1.43 EPS for the current year.
In other news, VP James Veneziano sold 9,426 shares of Trimble Navigation stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $35.73, for a total value of $336,790.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Julie A. Shepard sold 26,654 shares of Trimble Navigation stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $35.77, for a total value of $953,413.58. Following the completion of the transaction, the vice president now directly owns 16,434 shares of the company’s stock, valued at $587,844.18. The disclosure for this sale can be found here. Insiders have sold a total of 110,061 shares of company stock worth $4,032,293 over the last ninety days. Company insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of TRMB. Winslow Evans & Crocker Inc. raised its position in 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 during the period. State Treasurer State of Michigan raised its stake 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 worth $3,281,000 after buying an additional 1,600 shares during the last quarter. Ameriprise Financial Inc. raised its stake 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 worth $40,337,000 after buying an additional 85,816 shares during the last quarter. Johanson Financial Advisors Inc. purchased a new stake in shares of Trimble Navigation during the first quarter worth approximately $4,948,000. Finally, AXA raised its stake 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 worth $25,612,000 after buying an additional 205,120 shares during the last quarter. 89.72% of the stock is owned by hedge funds and other institutional investors.
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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