Kornitzer Capital Management Inc. KS reduced its position in shares of Trimble Navigation Ltd. (NASDAQ:TRMB) by 57.7% during the second quarter, Holdings Channel reports. The fund owned 212,920 shares of the company’s stock after selling 290,250 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Trimble Navigation were worth $5,187,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. Legal & General Group Plc raised its position in Trimble Navigation by 2.0% in the first quarter. Legal & General Group Plc now owns 1,121,814 shares of the company’s stock worth $27,821,000 after buying an additional 22,292 shares during the period. Geode Capital Management LLC raised its position in Trimble Navigation by 4.2% in the first quarter. Geode Capital Management LLC now owns 1,663,874 shares of the company’s stock worth $41,241,000 after buying an additional 66,316 shares during the period. Renaissance Technologies LLC purchased a new position in Trimble Navigation during the first quarter worth $19,583,000. UBS Group AG raised its position in Trimble Navigation by 3.6% in the first quarter. UBS Group AG now owns 127,830 shares of the company’s stock worth $3,170,000 after buying an additional 4,401 shares during the period. Finally, HBK Investments L P purchased a new position in Trimble Navigation during the first quarter worth $757,000. 90.15% of the stock is currently owned by institutional investors and hedge funds.
Trimble Navigation Ltd. (NASDAQ:TRMB) traded up 1.79% on Monday, hitting $29.03. 2,757,617 shares of the stock were exchanged. The company’s 50-day moving average is $27.62 and its 200-day moving average is $26.04. The company has a market cap of $7.23 billion, a PE ratio of 63.11 and a beta of 2.20. Trimble Navigation Ltd. has a 52 week low of $17.51 and a 52 week high of $29.03.
Trimble Navigation (NASDAQ:TRMB) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $609.60 million for the quarter, compared to analyst estimates of $611.79 million. Trimble Navigation had a net margin of 5.04% and a return on equity of 11.00%. Trimble Navigation’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the business posted $0.28 earnings per share. On average, analysts predict that Trimble Navigation Ltd. will post $1.18 earnings per share for the current year.
TRMB has been the topic of a number of analyst reports. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $32.00 price objective on shares of Trimble Navigation in a research report on Tuesday, September 13th. Wedbush boosted their target price on shares of Trimble Navigation from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Friday, June 24th. JPMorgan Chase & Co. lowered shares of Trimble Navigation from an “overweight” rating to a “neutral” rating and set a $27.00 target price on the stock. in a research report on Tuesday, June 28th. 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. Finally, TheStreet lowered shares of Trimble Navigation from a “buy” rating to a “hold” rating 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 issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $27.83.
In related news, SVP Darryl R. Matthews sold 5,714 shares of the firm’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $27.39, for a total transaction of $156,506.46. Following the completion of the transaction, the senior vice president now owns 8,401 shares of the company’s stock, valued at $230,103.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jurgen Kliem sold 16,700 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $26.00, for a total value of $434,200.00. Following the transaction, the vice president now directly owns 21,693 shares of the company’s stock, valued at approximately $564,018. 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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