Oppenheimer Asset Management Inc. raised its stake in shares of Trimble Navigation Ltd. (NASDAQ:TRMB) by 17.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,267 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,320 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Trimble Navigation were worth $794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in TRMB. BlackRock Inc. lifted its position in Trimble Navigation by 6,646.3% during the first quarter. BlackRock Inc. now owns 22,577,637 shares of the scientific and technical instruments company’s stock valued at $722,710,000 after purchasing an additional 22,242,969 shares during the last quarter. Vanguard Group Inc. lifted its position in Trimble Navigation by 4.5% during the first quarter. Vanguard Group Inc. now owns 20,464,940 shares of the scientific and technical instruments company’s stock valued at $655,082,000 after purchasing an additional 879,694 shares during the last quarter. Victory Capital Management Inc. lifted its position in Trimble Navigation by 1,733.8% during the first quarter. Victory Capital Management Inc. now owns 490,090 shares of the scientific and technical instruments company’s stock valued at $15,687,000 after purchasing an additional 463,364 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Trimble Navigation by 49.4% during the second quarter. Russell Investments Group Ltd. now owns 1,379,003 shares of the scientific and technical instruments company’s stock valued at $49,191,000 after purchasing an additional 455,679 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in 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 last quarter. Institutional investors and hedge funds own 90.06% of the company’s stock.

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Shares of Trimble Navigation Ltd. (NASDAQ:TRMB) opened at 39.88 on Wednesday. Trimble Navigation Ltd. has a one year low of $25.30 and a one year high of $39.99. The stock has a 50 day moving average of $37.87 and a 200-day moving average of $35.15. The company has a market capitalization of $10.10 billion, a price-to-earnings ratio of 57.80 and a beta of 2.28.

Trimble Navigation (NASDAQ:TRMB) last posted its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 earnings per share 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 analysts’ expectations of $643.05 million. During the same period last year, the business posted $0.29 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities analysts expect that Trimble Navigation Ltd. will post $1.43 earnings per share for the current year.

Several equities research analysts have issued reports on the stock. Craig Hallum reiterated a “hold” rating and set a $36.00 target price (up from $30.00) on shares of Trimble Navigation in a research report on Wednesday, August 9th. Zacks Investment Research lowered shares of Trimble Navigation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Piper Jaffray Companies restated a “buy” rating and issued a $39.00 price objective on shares of Trimble Navigation in a report on Wednesday, July 12th. Morgan Stanley boosted their price objective on shares of Trimble Navigation from $24.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, August 17th. Finally, Berenberg Bank started coverage on shares of Trimble Navigation in a report on Wednesday, August 23rd. They issued a “hold” rating and a $38.00 price objective for the company. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $40.75.

In related news, VP Chris Gibson sold 76,715 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $38.02, for a total value of $2,916,704.30. Following the completion of the sale, the vice president now directly owns 38,419 shares in the company, valued at $1,460,690.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Darryl R. Matthews sold 3,714 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $38.66, for a total value of $143,583.24. Following the completion of the sale, the senior vice president now owns 2,000 shares of the company’s stock, valued at $77,320. The disclosure for this sale can be found here. Over the last three months, insiders sold 252,688 shares of company stock valued at $9,616,521. 1.40% of the stock is currently owned by insiders.

Trimble Navigation 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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Institutional Ownership by Quarter for Trimble Navigation (NASDAQ:TRMB)

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