Trimble Navigation Ltd. (TRMB) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Trimble Navigation Ltd. (NASDAQ:TRMB) from a hold rating to a buy rating in a research report released on Tuesday morning. They currently have $46.00 target price on the scientific and technical instruments company’s stock.

According to Zacks, “Trimble has outperformed the industry on a year-to-date basis. The company’s aggressive acquisition strategy is helping it to rapidly expand product portfolio, improve competitive positions and enter new markets. Recent acquisitions have expanded Trimble’s Transportation, Agriculture Management and Forest solutions portfolio. Moreover, they have aided the company to expand in markets like Germany, Finland and Canada. We also note that the company’s initiatives toward lowering the cost structure is helping in improving profits.  The company expects operating margin expansion to continue, going forward. However, intensifying competition, weakness in European Geospatial market, slow down in Asia Pacific, uncertainty in the United States and Mexico are major headwinds. Recent acquisitions are also expected to be dilutive to the bottom-line, which does not augur well for investors.”

Other analysts also recently issued reports about the stock. Craig Hallum reiterated a hold rating and issued a $36.00 price objective (up from $30.00) on shares of Trimble Navigation in a research report on Wednesday, August 9th. Piper Jaffray Companies reiterated a buy rating and issued a $39.00 price objective on shares of Trimble Navigation in a research report on Wednesday, July 12th. Morgan Stanley lifted their price objective on shares of Trimble Navigation from $24.00 to $38.00 and gave the company an equal weight rating in a research report on Thursday, August 17th. Needham & Company LLC reiterated a buy rating and issued a $45.00 price objective (up from $42.00) on shares of Trimble Navigation in a research report on Sunday, October 29th. Finally, Berenberg Bank began coverage on shares of Trimble Navigation in a research note on Wednesday, August 23rd. They set a hold rating and a $38.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $41.70.

Shares of Trimble Navigation (NASDAQ TRMB) traded down $0.27 during trading hours on Tuesday, reaching $40.10. The company’s stock had a trading volume of 1,522,544 shares, compared to its average volume of 1,042,960. The stock has a market capitalization of $10,072.85, a P/E ratio of 31.83, a PEG ratio of 2.79 and a beta of 2.34. The company has a current ratio of 1.44, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22.

Trimble Navigation (NASDAQ:TRMB) last issued its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The firm had revenue of $670.00 million for 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 12.97%. Trimble Navigation’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the firm posted $0.33 EPS. analysts forecast that Trimble Navigation will post 1.27 earnings per share for the current fiscal year.

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In other news, VP James A. Kirkland sold 7,183 shares of Trimble Navigation stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $37.41, for a total value of $268,716.03. Following the transaction, the vice president now owns 14,598 shares of the company’s stock, valued at approximately $546,111.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven W. Berglund sold 200,000 shares of Trimble Navigation stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $40.45, for a total transaction of $8,090,000.00. Following the completion of the transaction, the chief executive officer now directly owns 350,489 shares in the company, valued at approximately $14,177,280.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 497,688 shares of company stock worth $19,537,671. 1.40% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank grew its stake in shares of Trimble Navigation by 13.0% in the 2nd quarter. Toronto Dominion Bank now owns 3,100 shares of the scientific and technical instruments company’s stock worth $111,000 after purchasing an additional 357 shares during the last quarter. Commonwealth Bank of Australia grew its stake in shares of Trimble Navigation by 17.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,400 shares of the scientific and technical instruments company’s stock worth $121,000 after purchasing an additional 500 shares during the last quarter. Howe & Rusling Inc. acquired a new position in shares of Trimble Navigation in the 3rd quarter worth approximately $139,000. Acadian Asset Management LLC acquired a new position in shares of Trimble Navigation in the 2nd quarter worth approximately $134,000. Finally, Advisor Group Inc. grew its stake in shares of Trimble Navigation by 3.7% in the 2nd quarter. Advisor Group Inc. now owns 4,016 shares of the scientific and technical instruments company’s stock worth $142,000 after purchasing an additional 144 shares during the last quarter. 89.99% of the stock is currently owned by institutional investors.

Trimble Navigation Company Profile

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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