BidaskClub lowered shares of Trimble Navigation (NASDAQ:TRMB) from a strong-buy rating to a buy rating in a report released on Thursday.
Other research analysts have also recently issued reports about the stock. Oppenheimer restated a buy rating on shares of Trimble Navigation in a research report on Thursday, October 19th. Piper Jaffray Companies set a $43.00 price objective on shares of Trimble Navigation and gave the stock a buy rating in a research report on Sunday, October 1st. Zacks Investment Research upgraded shares of Trimble Navigation from a hold rating to a buy rating and set a $46.00 price target on the stock in a research report on Tuesday, October 31st. Needham & Company LLC reiterated a buy rating and set a $45.00 price target (up from $42.00) on shares of Trimble Navigation in a research report on Sunday, October 29th. Finally, Morgan Stanley increased their price target 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. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $41.70.
Trimble Navigation (NASDAQ TRMB) opened at $41.21 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.44 and a quick ratio of 1.12. The firm has a market cap of $10,375.08, a P/E ratio of 32.97, a P/E/G ratio of 2.89 and a beta of 2.35. Trimble Navigation has a 52-week low of $28.61 and a 52-week high of $43.97.
Trimble Navigation (NASDAQ:TRMB) last posted its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The company had revenue of $670.00 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 earnings per share. analysts anticipate that Trimble Navigation will post 1.27 EPS for the current year.
Trimble Navigation declared that its Board of Directors has approved a share repurchase plan on Wednesday, November 15th that allows the company to buyback $600.00 million in outstanding shares. This buyback authorization allows the scientific and technical instruments company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Ronald S. Nersesian sold 55,000 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $40.13, for a total transaction of $2,207,150.00. Following the completion of the sale, the director now owns 46,820 shares of the company’s stock, valued at $1,878,886.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Jurgen Kliem sold 995 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $42.50, for a total value of $42,287.50. Following the sale, the vice president now directly owns 18,175 shares of the company’s stock, valued at approximately $772,437.50. The disclosure for this sale can be found here. Insiders have sold 320,278 shares of company stock worth $12,969,243 over the last quarter. Company insiders own 1.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Chicago Equity Partners LLC purchased a new stake in shares of Trimble Navigation during the second quarter valued at approximately $782,000. Great Lakes Advisors LLC purchased a new stake in shares of Trimble Navigation during the second quarter valued at approximately $2,254,000. Principal Financial Group Inc. boosted its stake in shares of Trimble Navigation by 26.0% during the second quarter. Principal Financial Group Inc. now owns 1,307,351 shares of the scientific and technical instruments company’s stock valued at $46,633,000 after purchasing an additional 269,710 shares during the period. Trillium Asset Management LLC lifted its stake in Trimble Navigation by 40.4% in the third quarter. Trillium Asset Management LLC now owns 54,353 shares of the scientific and technical instruments company’s stock worth $2,133,000 after acquiring an additional 15,646 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in Trimble Navigation by 9.4% in the second quarter. Advisors Asset Management Inc. now owns 24,944 shares of the scientific and technical instruments company’s stock worth $890,000 after acquiring an additional 2,136 shares during the period. 89.73% of the stock is owned by hedge funds and other institutional investors.
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About Trimble Navigation
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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