Trimble Navigation Ltd. (TRMB) Shares Sold by Capital Research Global Investors
Capital Research Global Investors lessened its holdings in shares of Trimble Navigation Ltd. (NASDAQ:TRMB) by 14.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,461,421 shares of the scientific and technical instruments company’s stock after selling 2,750,292 shares during the quarter. Capital Research Global Investors owned 6.50% of Trimble Navigation worth $587,179,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of TRMB. Commonwealth Bank of Australia increased its stake in Trimble Navigation by 17.2% during the 2nd quarter. Commonwealth Bank of Australia now owns 3,400 shares of the scientific and technical instruments company’s stock worth $121,000 after purchasing an additional 500 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Trimble Navigation in the 2nd quarter worth $134,000. Advisor Group Inc. boosted its stake in Trimble Navigation by 3.7% in the 2nd quarter. Advisor Group Inc. now owns 4,016 shares of the scientific and technical instruments company’s stock worth $142,000 after purchasing an additional 144 shares during the period. FNY Partners Fund LP boosted its stake in Trimble Navigation by 71.4% in the 1st quarter. FNY Partners Fund LP now owns 4,800 shares of the scientific and technical instruments company’s stock worth $153,000 after purchasing an additional 2,000 shares during the period. Finally, Thompson Siegel & Walmsley LLC acquired a new position in Trimble Navigation in the 2nd quarter worth $168,000. Hedge funds and other institutional investors own 89.85% of the company’s stock.
In other news, VP James A. Kirkland sold 10,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $37.60, for a total value of $376,000.00. Following the completion of the sale, the vice president now owns 31,781 shares in the company, valued at $1,194,965.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Darryl R. Matthews sold 3,714 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $38.66, for a total transaction 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 approximately $77,320. The disclosure for this sale can be found here. Insiders have sold a total of 252,688 shares of company stock worth $9,616,521 over the last ninety days. Insiders own 1.40% of the company’s stock.
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A number of equities analysts have issued reports on the company. Piper Jaffray Companies set a $43.00 price target on Trimble Navigation and gave the company a “buy” rating in a research note on Sunday. Craig Hallum reaffirmed a “hold” rating and set a $36.00 price objective (up from $30.00) on shares of Trimble Navigation in a research report on Wednesday, August 9th. BidaskClub downgraded Trimble Navigation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Morgan Stanley increased their price objective on Trimble Navigation from $24.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, August 17th. Finally, Dougherty & Co increased their price objective on Trimble Navigation from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $41.11.
Shares of Trimble Navigation Ltd. (NASDAQ:TRMB) traded up 0.43% on Tuesday, hitting $40.05. 145,606 shares of the stock were exchanged. The stock has a market cap of $10.14 billion, a price-to-earnings ratio of 58.04 and a beta of 2.30. Trimble Navigation Ltd. has a 1-year low of $25.30 and a 1-year high of $40.30. The stock’s 50-day moving average is $38.74 and its 200-day moving average is $36.02.
Trimble Navigation (NASDAQ:TRMB) last released 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). The company had revenue of $661.90 million during the quarter, compared to analysts’ expectations of $643.05 million. Trimble Navigation had a net margin of 7.25% and a return on equity of 12.71%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 earnings per share. Analysts forecast that Trimble Navigation Ltd. will post $1.43 earnings per share for the current year.
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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