Insider Selling: Trimble Navigation Ltd. (TRMB) VP Sells 53,285 Shares of Stock
Trimble Navigation Ltd. (NASDAQ:TRMB) VP Chris Gibson sold 53,285 shares of Trimble Navigation stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $38.08, for a total transaction of $2,029,092.80. Following the completion of the sale, the vice president now owns 68,274 shares in the company, valued at approximately $2,599,873.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Chris Gibson also recently made the following trade(s):
- On Monday, August 28th, Chris Gibson sold 23,430 shares of Trimble Navigation stock. The shares were sold at an average price of $38.01, for a total transaction of $890,574.30.
- On Tuesday, August 29th, Chris Gibson sold 76,715 shares of Trimble Navigation stock. The shares were sold at an average price of $38.02, for a total transaction of $2,916,704.30.
Shares of Trimble Navigation Ltd. (NASDAQ TRMB) traded up 0.47% during trading on Thursday, hitting $38.68. The stock had a trading volume of 991,984 shares. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of 56.06 and a beta of 2.31. The company’s 50 day moving average price is $37.46 and its 200 day moving average price is $34.55. Trimble Navigation Ltd. has a 12 month low of $25.30 and a 12 month high of $39.45.
Trimble Navigation (NASDAQ:TRMB) last issued its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.02. Trimble Navigation had a return on equity of 12.71% and a net margin of 7.25%. The company had revenue of $661.90 million for the quarter, compared to analysts’ expectations of $643.05 million. During the same quarter last year, the company earned $0.29 EPS. Trimble Navigation’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts expect that Trimble Navigation Ltd. will post $1.43 earnings per share for the current fiscal year.
A number of analysts have recently commented on the stock. Dougherty & Co boosted their target price on shares of Trimble Navigation from $40.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Berenberg Bank started coverage on Trimble Navigation in a research report on Wednesday, August 23rd. They issued a “hold” rating and a $38.00 target price for the company. BidaskClub raised Trimble Navigation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Piper Jaffray Companies set a $43.00 target price on Trimble Navigation and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $41.00 target price (up previously from $39.00) on shares of Trimble Navigation in a research report on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $40.75.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC boosted 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 during the period. USA Financial Portformulas Corp purchased a new stake in shares of Trimble Navigation during the second quarter worth about $278,000. Toronto Dominion Bank boosted 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 during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Trimble Navigation during the second quarter worth about $582,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Trimble Navigation during the second quarter worth about $266,000. 90.05% of the stock is owned by institutional investors and hedge funds.
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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