Trimble Navigation Ltd. (NASDAQ:TRMB) had its target price boosted by Wells Fargo & Company from $34.00 to $37.00 in a report published on Friday, October 27th. They currently have a market perform rating on the scientific and technical instruments company’s stock.
Several other brokerages have also commented on TRMB. Piper Jaffray Companies set a $43.00 price objective on shares of Trimble Navigation and gave the stock a buy rating in a report on Friday, August 25th. BidaskClub lowered shares of Trimble Navigation from a buy rating to a hold rating in a report on Tuesday, August 1st. Oppenheimer Holdings, Inc. restated an outperform rating and issued a $41.00 price objective (up from $39.00) on shares of Trimble Navigation in a report on Friday, August 4th. Craig Hallum restated a hold rating and issued a $36.00 price objective (up from $30.00) on shares of Trimble Navigation in a report on Thursday, August 3rd. Finally, Zacks Investment Research downgraded shares of Trimble Navigation from a strong-buy rating to a hold rating in a research note on Tuesday, August 8th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Trimble Navigation currently has a consensus rating of Buy and a consensus target price of $41.70.
Trimble Navigation (TRMB) traded down $0.19 on Friday, reaching $40.37. 926,900 shares of the company were exchanged, compared to its average volume of 993,723. The company has a quick ratio of 1.12, a current ratio of 1.44 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $10,211.44, a price-to-earnings ratio of 32.45, a PEG ratio of 2.85 and a beta of 2.34. Trimble Navigation has a 52-week low of $26.88 and a 52-week high of $43.97.
Trimble Navigation (NASDAQ:TRMB) last posted its earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $670.00 million for the quarter, compared to analyst estimates of $660.11 million. Trimble Navigation had a net margin of 7.66% and a return on equity of 12.97%. Trimble Navigation’s revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 EPS. equities analysts anticipate that Trimble Navigation will post 1.27 EPS for the current year.
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In other Trimble Navigation news, CFO Robert G. Painter sold 16,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $40.02, for a total value of $640,320.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Darryl R. Matthews sold 1,094 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $40.51, for a total transaction of $44,317.94. Following the completion of the sale, the senior vice president now directly owns 4,475 shares in the company, valued at $181,282.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 481,448 shares of company stock worth $18,963,617. Insiders own 1.40% of the company’s stock.
Several large investors have recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of Trimble Navigation by 0.8% in the 2nd 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 during the last quarter. Vanguard Group Inc. increased its position in shares of Trimble Navigation by 4.2% in the 2nd 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 during the last quarter. Bank of New York Mellon Corp increased its position in shares of Trimble Navigation by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,243,002 shares of the scientific and technical instruments company’s stock valued at $323,537,000 after purchasing an additional 33,278 shares during the last quarter. State Street Corp increased its position in shares of Trimble Navigation by 0.4% in the 2nd 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 during the last quarter. Finally, Capital International Investors increased its position in shares of Trimble Navigation by 8.6% in the 2nd 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 during the last quarter. 90.25% 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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