First Mercantile Trust Co. reduced its stake in Trimble Navigation Ltd. (NASDAQ:TRMB) by 41.3% during the second quarter, Holdings Channel reports. The institutional investor owned 12,790 shares of the company’s stock after selling 9,000 shares during the period. First Mercantile Trust Co.’s holdings in Trimble Navigation were worth $312,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strs Ohio raised its position in Trimble Navigation by 59.2% in the second quarter. Strs Ohio now owns 6,841 shares of the company’s stock valued at $166,000 after buying an additional 2,544 shares in the last quarter. Dixon Hubard Feinour & Brown Inc. VA acquired a new position in shares of Trimble Navigation during the first quarter valued at about $204,000. Westpac Banking Corp raised its position in shares of Trimble Navigation by 33.1% in the second quarter. Westpac Banking Corp now owns 12,563 shares of the company’s stock valued at $306,000 after buying an additional 3,121 shares during the period. Parametrica Management Ltd acquired a new position in shares of Trimble Navigation during the second quarter valued at about $317,000. Finally, Mizuho Asset Management Co. Ltd. raised its position in shares of Trimble Navigation by 953.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 13,022 shares of the company’s stock valued at $317,000 after buying an additional 11,786 shares during the period. Institutional investors own 90.16% of the company’s stock.
Trimble Navigation Ltd. (NASDAQ:TRMB) opened at 28.56 on Friday. Trimble Navigation Ltd. has a 52 week low of $16.40 and a 52 week high of $28.72. The company has a 50-day moving average of $27.39 and a 200-day moving average of $25.78. The company has a market cap of $7.12 billion, a P/E ratio of 62.09 and a beta of 2.12.
Trimble Navigation (NASDAQ:TRMB) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.01. The firm had revenue of $609.60 million for the quarter, compared to analyst estimates of $611.79 million. Trimble Navigation had a return on equity of 11.00% and a net margin of 5.04%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 EPS. On average, equities research analysts predict that Trimble Navigation Ltd. will post $1.18 EPS for the current year.
Several research analysts have issued reports on TRMB shares. Wedbush restated a “buy” rating on shares of Trimble Navigation in a research report on Sunday, June 26th. Dougherty & Co restated a “buy” rating and set a $32.00 target price on shares of Trimble Navigation in a research report on Monday, September 12th. TheStreet upgraded Trimble Navigation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. set a $29.00 target price on Trimble Navigation and gave the company a “hold” rating in a research report on Wednesday, August 3rd. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and set a $32.00 target price on shares of Trimble Navigation in a research report on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $27.83.
In other news, CEO Steven W. Berglund sold 36,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $27.43, for a total transaction of $987,480.00. Following the completion of the sale, the chief executive officer now owns 78,183 shares in the company, valued at approximately $2,144,559.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Chris Gibson sold 130,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $27.86, for a total transaction of $3,621,800.00. Following the sale, the vice president now owns 109,941 shares of the company’s stock, valued at approximately $3,062,956.26. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
Trimble Navigation Company Profile
Trimble Navigation Limited is a provider of technology solutions for professionals and field mobile workers to transform work processes. The Company operates through four segments: Engineering and Construction, Field Solutions, Mobile Solutions and Advanced Devices. Its products include equipment that automates large industrial equipment, such as tractors and bulldozers; integrated systems that track fleets of vehicles and workers and provide information and analytics to the back-office; data collection systems that enable the management of geo-referenced information; software solutions that connect all aspects of a construction site or a farm, and building information modeling (BIM) software that is used throughout the design, build and operation of buildings.
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