Trimble Navigation Ltd. (TRMB) Lifted to “Buy” at BidaskClub
BidaskClub upgraded shares of Trimble Navigation Ltd. (NASDAQ:TRMB) from a hold rating to a buy rating in a research report released on Wednesday.
TRMB has been the topic of a number of other reports. Zacks Investment Research downgraded Trimble Navigation from a buy rating to a hold rating in a research note on Monday, May 29th. Morgan Stanley upped their price target on Trimble Navigation from $24.00 to $38.00 and gave the stock an equal weight rating in a research note on Thursday, August 17th. Oppenheimer Holdings, Inc. reaffirmed an outperform rating and set a $39.00 price target (up from $38.00) on shares of Trimble Navigation in a research note on Tuesday, June 13th. Piper Jaffray Companies reaffirmed a buy rating and set a $39.00 price target on shares of Trimble Navigation in a research note on Wednesday, July 12th. Finally, Dougherty & Co raised Trimble Navigation from a neutral rating to a buy rating in a research note on Friday, April 28th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $40.75.
Trimble Navigation (TRMB) opened at 38.13 on Wednesday. The firm has a 50-day moving average of $37.46 and a 200-day moving average of $34.55. Trimble Navigation has a 12-month low of $25.30 and a 12-month high of $39.45. The firm has a market cap of $9.65 billion, a P/E ratio of 55.26 and a beta of 2.31.
Trimble Navigation (NASDAQ:TRMB) last announced its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by $0.02. Trimble Navigation had a net margin of 7.25% and a return on equity of 12.71%. The business had revenue of $661.90 million during the quarter, compared to analyst estimates of $643.05 million. During the same period in the prior year, the firm earned $0.29 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, analysts expect that Trimble Navigation will post $1.43 EPS for the current year.
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In other Trimble Navigation news, Director Merit E. Janow sold 33,334 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $37.76, for a total transaction of $1,258,691.84. Following the completion of the sale, the director now directly owns 26,004 shares of the company’s stock, valued at approximately $981,911.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James A. Kirkland sold 7,183 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $37.41, for a total value of $268,716.03. Following the sale, the vice president now directly owns 14,598 shares of the company’s stock, valued at $546,111.18. The disclosure for this sale can be found here. Insiders have sold a total of 62,618 shares of company stock valued at $2,343,149 over the last three months. Corporate insiders own 1.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Lord Abbett & CO. LLC raised its stake in shares of Trimble Navigation by 2.4% in the second quarter. Lord Abbett & CO. LLC now owns 1,306,788 shares of the scientific and technical instruments company’s stock worth $46,613,000 after buying an additional 30,613 shares in the last quarter. USA Financial Portformulas Corp bought a new stake in shares of Trimble Navigation during the second quarter worth approximately $278,000. Toronto Dominion Bank raised its stake in shares of Trimble Navigation by 13.0% in the second quarter. Toronto Dominion Bank now owns 3,100 shares of the scientific and technical instruments company’s stock worth $111,000 after buying an additional 357 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Trimble Navigation during the second quarter worth approximately $582,000. Finally, WINTON GROUP Ltd bought a new stake in shares of Trimble Navigation during the second quarter worth approximately $266,000. 89.72% of the stock is owned by hedge funds and other 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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