South Dakota Investment Council lessened its stake in Trimble Navigation Ltd. (NASDAQ:TRMB) by 29.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,500 shares of the scientific and technical instruments company’s stock after selling 45,000 shares during the period. South Dakota Investment Council’s holdings in Trimble Navigation were worth $4,219,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Trimble Navigation by 0.8% in the 2nd quarter. BlackRock Inc. now owns 22,763,354 shares of the scientific and technical instruments company’s stock valued at $811,967,000 after acquiring an additional 185,717 shares during the last quarter. Vanguard Group Inc. increased its holdings in Trimble Navigation by 4.2% during the 2nd 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. Bank of New York Mellon Corp increased its holdings in Trimble Navigation by 0.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,243,002 shares of the scientific and technical instruments company’s stock valued at $323,537,000 after purchasing an additional 33,278 shares during the period. State Street Corp increased its holdings in Trimble Navigation by 0.4% during the 2nd quarter. State Street Corp now owns 8,192,632 shares of the scientific and technical instruments company’s stock valued at $292,228,000 after purchasing an additional 35,154 shares during the period. Finally, Capital International Investors increased its holdings in Trimble Navigation by 8.6% during the 2nd quarter. Capital International Investors now owns 8,029,625 shares of the scientific and technical instruments company’s stock valued at $286,417,000 after purchasing an additional 639,190 shares during the period. 88.80% of the stock is owned by institutional investors.

A number of research analysts recently issued reports on the company. Craig Hallum restated a “hold” rating and set a $36.00 price target (up previously from $30.00) on shares of Trimble Navigation in a report on Wednesday, August 9th. Morgan Stanley boosted their price target on Trimble Navigation from $24.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday, August 17th. Berenberg Bank assumed coverage on Trimble Navigation in a report on Wednesday, August 23rd. They set a “hold” rating and a $38.00 price target on the stock. Piper Jaffray Companies set a $43.00 price target on Trimble Navigation and gave the company a “buy” rating in a report on Sunday, October 1st. Finally, Zacks Investment Research downgraded Trimble Navigation from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $41.70.

Shares of Trimble Navigation Ltd. (TRMB) opened at $42.11 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.44 and a quick ratio of 1.12. Trimble Navigation Ltd. has a 12-month low of $27.61 and a 12-month high of $43.97. The company has a market capitalization of $10,561.39, a P/E ratio of 33.56, a PEG ratio of 2.95 and a beta of 2.34.

Trimble Navigation (NASDAQ:TRMB) last issued its quarterly earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Trimble Navigation had a return on equity of 12.97% and a net margin of 7.66%. The firm had revenue of $670.00 million for the quarter, compared to analysts’ expectations of $660.11 million. During the same period in the previous year, the firm posted $0.33 EPS. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. research analysts predict that Trimble Navigation Ltd. will post 1.27 earnings per share for the current year.

Trimble Navigation declared that its board has initiated a stock repurchase plan on Wednesday, November 15th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

In related news, VP Chris Gibson sold 23,430 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $38.01, for a total value of $890,574.30. Following the transaction, the vice president now directly owns 38,419 shares of the company’s stock, valued at approximately $1,460,306.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jurgen Kliem sold 44,662 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $38.49, for a total value of $1,719,040.38. Following the completion of the transaction, the vice president now directly owns 23,909 shares in the company, valued at $920,257.41. The disclosure for this sale can be found here. Insiders sold a total of 514,942 shares of company stock worth $20,366,629 over the last ninety days. 1.40% of the stock is currently owned by insiders.

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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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