Trimble Navigation Ltd. (NASDAQ:TRMB)‘s stock had its “outperform” rating reissued by equities researchers at Oppenheimer Holdings Inc. in a research note issued on Thursday. They currently have a $32.00 price objective on the stock. Oppenheimer Holdings Inc.’s price objective would indicate a potential upside of 13.39% from the stock’s current price.
TRMB has been the topic of a number of other research reports. TheStreet upgraded shares of Trimble Navigation from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. JPMorgan Chase & Co. lowered shares of Trimble Navigation from an “overweight” rating to a “neutral” rating and set a $27.00 price target on the stock. in a report on Tuesday, June 28th. Wedbush boosted their target price on shares of Trimble Navigation from $27.00 to $29.00 and gave the company an “outperform” rating in a report on Friday, June 24th. Zacks Investment Research lowered shares of Trimble Navigation from a “hold” rating to a “sell” rating in a report on Tuesday, June 28th. Finally, Dougherty & Co restated a “buy” rating and issued a $32.00 target price on shares of Trimble Navigation in a report on Monday, September 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Trimble Navigation currently has an average rating of “Buy” and a consensus price target of $27.83.
Shares of Trimble Navigation (NASDAQ:TRMB) traded down 1.081% during mid-day trading on Thursday, hitting $27.915. 155,488 shares of the company’s stock traded hands. Trimble Navigation has a 52 week low of $17.37 and a 52 week high of $28.99. The company has a market cap of $6.96 billion, a PE ratio of 60.685 and a beta of 2.20. The firm has a 50-day moving average of $27.56 and a 200 day moving average of $25.99.
Trimble Navigation (NASDAQ:TRMB) last issued its earnings results on Tuesday, August 2nd. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by $0.01. The company earned $609.60 million during 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%. The business’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. Equities research analysts predict that Trimble Navigation will post $1.18 EPS for the current year.
In related news, SVP Darryl R. Matthews sold 5,714 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $27.39, for a total transaction of $156,506.46. Following the sale, the senior vice president now directly owns 8,401 shares in the company, valued at approximately $230,103.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Chris Gibson sold 130,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were 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 in the company, valued at $3,062,956.26. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Capstone Asset Management Co. boosted its stake in shares of Trimble Navigation by 1.0% in the third quarter. Capstone Asset Management Co. now owns 20,826 shares of the company’s stock worth $595,000 after buying an additional 200 shares during the last quarter. Creative Planning raised its stake in Trimble Navigation by 6.0% in the third quarter. Creative Planning now owns 17,105 shares of the company’s stock worth $489,000 after buying an additional 967 shares during the period. British Columbia Investment Management Corp raised its stake in Trimble Navigation by 1.4% in the third quarter. British Columbia Investment Management Corp now owns 102,123 shares of the company’s stock worth $2,917,000 after buying an additional 1,383 shares during the period. Franklin Street Advisors Inc. NC purchased a new stake in Trimble Navigation during the third quarter worth $1,737,000. Finally, Eqis Capital Management Inc. purchased a new stake in Trimble Navigation during the third quarter worth $201,000. Institutional investors own 90.16% of the company’s stock.
About Trimble Navigation
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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