Gotham Asset Management LLC Buys New Position in Trimble Navigation Ltd. (NASDAQ:TRMB)
Gotham Asset Management LLC purchased a new stake in shares of Trimble Navigation Ltd. (NASDAQ:TRMB) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 22,308 shares of the scientific and technical instruments company’s stock, valued at approximately $714,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Highbridge Capital Management LLC purchased a new position in Trimble Navigation during the first quarter valued at $215,000. State Street Corp boosted its position in Trimble Navigation by 1.3% in the first quarter. State Street Corp now owns 8,157,478 shares of the scientific and technical instruments company’s stock valued at $261,115,000 after buying an additional 103,450 shares during the last quarter. Weiss Multi Strategy Advisers LLC purchased a new position in Trimble Navigation during the first quarter valued at $3,891,000. Oppenheimer Asset Management Inc. purchased a new position in Trimble Navigation during the first quarter valued at $606,000. Finally, Logan Capital Management Inc. boosted its position in Trimble Navigation by 1.7% in the first quarter. Logan Capital Management Inc. now owns 171,995 shares of the scientific and technical instruments company’s stock valued at $5,506,000 after buying an additional 2,885 shares during the last quarter. 90.56% of the stock is currently owned by hedge funds and other institutional investors.
Trimble Navigation Ltd. (NASDAQ:TRMB) traded up 0.69% on Thursday, reaching $37.84. The company had a trading volume of 1,749,787 shares. The firm has a market capitalization of $9.57 billion, a P/E ratio of 58.22 and a beta of 2.31. Trimble Navigation Ltd. has a 1-year low of $25.30 and a 1-year high of $39.45. The company’s 50-day moving average price is $36.91 and its 200 day moving average price is $33.67.
Trimble Navigation (NASDAQ:TRMB) last issued its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by $0.02. Trimble Navigation had a return on equity of 12.28% and a net margin of 6.82%. The firm had revenue of $661.90 million for the quarter, compared to analysts’ expectations of $643.05 million. During the same quarter last year, the firm earned $0.29 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities analysts forecast that Trimble Navigation Ltd. will post $1.39 EPS for the current year.
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A number of brokerages recently commented on TRMB. Craig Hallum raised their target price on Trimble Navigation from $30.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday. BidaskClub cut Trimble Navigation from a “buy” rating to a “hold” rating in a report on Tuesday. Dougherty & Co increased their price target on Trimble Navigation from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Piper Jaffray Companies reiterated a “buy” rating and issued a $39.00 price target on shares of Trimble Navigation in a research note on Wednesday, July 12th. Finally, Zacks Investment Research lowered Trimble Navigation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Trimble Navigation has a consensus rating of “Buy” and a consensus price target of $37.86.
In other Trimble Navigation news, VP Julie A. Shepard sold 26,654 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $35.77, for a total transaction of $953,413.58. Following the completion of the sale, the vice president now directly owns 16,434 shares in the company, valued at $587,844.18. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark S. Peek sold 11,717 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $36.35, for a total transaction of $425,912.95. Following the transaction, the director now directly owns 30,000 shares in the company, valued at $1,090,500. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 142,263 shares of company stock valued at $5,094,328. 1.40% of the stock is owned by insiders.
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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