Trimble Navigation Ltd. (NASDAQ:TRMB) had its price objective boosted by equities researchers at Wells Fargo & Company from $34.00 to $37.00 in a report released on Friday. The firm currently has a “market perform” rating on the scientific and technical instruments company’s stock. Wells Fargo & Company’s price objective would suggest a potential downside of 13.73% from the stock’s previous close.
A number of other equities analysts also recently commented on TRMB. Zacks Investment Research downgraded shares of Trimble Navigation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Trimble Navigation in a report on Wednesday, July 12th. Dougherty & Co lifted their price objective on shares of Trimble Navigation from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. BidaskClub downgraded shares of Trimble Navigation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Craig Hallum reaffirmed a “hold” rating and issued a $36.00 price objective (up previously from $30.00) on shares of Trimble Navigation in a report on Thursday, August 3rd. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $41.10.
Trimble Navigation (NASDAQ TRMB) traded up 4.08% during mid-day trading on Friday, reaching $42.89. 2,585,714 shares of the company traded hands. The stock has a market capitalization of $10.86 billion, a PE ratio of 62.16 and a beta of 2.30. Trimble Navigation has a 52-week low of $25.30 and a 52-week high of $43.97. The firm’s 50-day moving average is $40.30 and its 200 day moving average is $37.24.
Trimble Navigation (NASDAQ:TRMB) last released its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The firm had revenue of $670.00 million during the quarter, compared to the consensus estimate of $660.11 million. Trimble Navigation had a net margin of 7.66% and a return on equity of 13.16%. The firm’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 earnings per share. On average, equities research analysts expect that Trimble Navigation will post $1.43 earnings per share for the current year.
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In other Trimble Navigation news, SVP Darryl R. Matthews sold 3,714 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $38.66, for a total value of $143,583.24. Following the sale, the senior vice president now directly owns 2,000 shares in the company, valued at $77,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jurgen Kliem sold 44,662 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $38.49, for a total value of $1,719,040.38. Following the completion of the sale, the vice president now owns 23,909 shares in the company, valued at $920,257.41. The disclosure for this sale can be found here. Insiders sold 252,688 shares of company stock worth $9,616,521 over the last quarter. 1.40% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Trimble Navigation by 0.8% during the second quarter. BlackRock Inc. now owns 22,763,354 shares of the scientific and technical instruments company’s stock valued at $811,967,000 after purchasing an additional 185,717 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Trimble Navigation by 4.2% during the second quarter. Vanguard Group Inc. now owns 21,314,854 shares of the scientific and technical instruments company’s stock valued at $760,302,000 after purchasing an additional 849,914 shares in the last quarter. State Street Corp raised its stake in shares of Trimble Navigation by 0.4% during the second quarter. State Street Corp now owns 8,192,632 shares of the scientific and technical instruments company’s stock valued at $292,228,000 after purchasing an additional 35,154 shares in the last quarter. Capital International Investors raised its stake in shares of Trimble Navigation by 8.6% during the second quarter. Capital International Investors now owns 8,029,625 shares of the scientific and technical instruments company’s stock valued at $286,417,000 after purchasing an additional 639,190 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Trimble Navigation by 2.4% during the second quarter. Northern Trust Corp now owns 2,500,633 shares of the scientific and technical instruments company’s stock valued at $89,198,000 after purchasing an additional 58,464 shares in the last quarter. Institutional investors and hedge funds own 89.97% of the company’s stock.
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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