California Public Employees Retirement System raised its position in Trimble Navigation Ltd. (NASDAQ:TRMB) by 2.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 581,100 shares of the scientific and technical instruments company’s stock after acquiring an additional 13,200 shares during the period. California Public Employees Retirement System owned approximately 0.23% of Trimble Navigation worth $20,728,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Trimble Navigation by 4.2% in the second quarter. Vanguard Group Inc. now owns 21,314,854 shares of the scientific and technical instruments company’s stock valued at $760,302,000 after purchasing an additional 849,914 shares during the period. Northern Trust Corp lifted its stake in shares of Trimble Navigation by 2.4% in the second quarter. Northern Trust Corp now owns 2,500,633 shares of the scientific and technical instruments company’s stock valued at $89,198,000 after purchasing an additional 58,464 shares during the period. Citigroup Inc. lifted its stake in shares of Trimble Navigation by 10.9% in the second quarter. Citigroup Inc. now owns 15,842 shares of the scientific and technical instruments company’s stock valued at $565,000 after purchasing an additional 1,562 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Trimble Navigation in the second quarter valued at about $378,000. Finally, Nicholas Investment Partners LP lifted its stake in shares of Trimble Navigation by 14.5% in the second quarter. Nicholas Investment Partners LP now owns 216,048 shares of the scientific and technical instruments company’s stock valued at $7,707,000 after purchasing an additional 27,390 shares during the period. Institutional investors own 89.85% of the company’s stock.

In other Trimble Navigation news, VP Chris Gibson sold 76,715 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were 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 of the company’s stock, valued at approximately $1,460,690.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James A. Kirkland sold 10,000 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $37.60, for a total transaction of $376,000.00. Following the completion of the sale, the vice president now directly owns 31,781 shares of the company’s stock, valued at $1,194,965.60. The disclosure for this sale can be found here. Insiders sold a total of 252,688 shares of company stock valued at $9,616,521 over the last three months. 1.40% of the stock is owned by corporate insiders.

Several brokerages recently commented on TRMB. Robert W. Baird raised their price objective on shares of Trimble Navigation from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, September 22nd. Piper Jaffray Companies set a $43.00 price objective on shares of Trimble Navigation and gave the company a “buy” rating in a research note on Friday, August 25th. Berenberg Bank began coverage on shares of Trimble Navigation in a research note on Wednesday, August 23rd. They issued a “hold” rating and a $38.00 price objective for the company. BidaskClub upgraded shares of Trimble Navigation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Finally, Morgan Stanley raised their price objective on shares of Trimble Navigation from $24.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, August 17th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Trimble Navigation currently has an average rating of “Buy” and a consensus target price of $41.11.

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Trimble Navigation Ltd. (TRMB) opened at 39.25 on Friday. The firm’s 50-day moving average is $38.19 and its 200 day moving average is $35.51. Trimble Navigation Ltd. has a 12-month low of $25.30 and a 12-month high of $40.30. The stock has a market capitalization of $9.94 billion, a P/E ratio of 56.88 and a beta of 2.28.

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 Zacks’ consensus estimate 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 previous year, the company posted $0.29 earnings per share. Trimble Navigation’s revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Trimble Navigation Ltd. will post $1.43 earnings per share for the current year.

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

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