Allianz Asset Management GmbH raised its holdings in Trimble Navigation Ltd. (NASDAQ:TRMB) by 44.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 504,044 shares of the scientific and technical instruments company’s stock after purchasing an additional 155,391 shares during the quarter. Allianz Asset Management GmbH owned 0.20% of Trimble Navigation worth $19,783,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Toronto Dominion Bank boosted its holdings in Trimble Navigation by 13.0% in the 2nd quarter. Toronto Dominion Bank now owns 3,100 shares of the scientific and technical instruments company’s stock valued at $111,000 after purchasing an additional 357 shares in the last quarter. Commonwealth Bank of Australia boosted its holdings in Trimble Navigation by 17.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,400 shares of the scientific and technical instruments company’s stock valued at $121,000 after purchasing an additional 500 shares in the last quarter. Howe & Rusling Inc. purchased a new stake in Trimble Navigation in the 3rd quarter valued at approximately $139,000. Acadian Asset Management LLC purchased a new stake in Trimble Navigation in the 2nd quarter valued at approximately $134,000. Finally, Advisor Group Inc. boosted its holdings 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 valued at $142,000 after purchasing an additional 144 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors.

Shares of Trimble Navigation Ltd. (NASDAQ TRMB) opened at $41.19 on Tuesday. Trimble Navigation Ltd. has a 12-month low of $28.61 and a 12-month high of $43.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 1.44. The stock has a market cap of $10,375.08, a P/E ratio of 32.97, a PEG ratio of 2.89 and a beta of 2.35.

Trimble Navigation (NASDAQ:TRMB) last posted its quarterly earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.02. Trimble Navigation had a net margin of 7.66% and a return on equity of 12.97%. The company had revenue of $670.00 million during the quarter, compared to the consensus estimate of $660.11 million. During the same period last year, the firm earned $0.33 EPS. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. sell-side analysts anticipate that Trimble Navigation Ltd. will post 1.27 earnings per share for the current year.

Trimble Navigation declared that its Board of Directors has initiated a stock buyback program on Wednesday, November 15th that authorizes the company to buyback $600.00 million in shares. This buyback authorization authorizes the scientific and technical instruments company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In related news, SVP Sachin Sankpal sold 6,512 shares of Trimble Navigation stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $41.99, for a total transaction of $273,438.88. Following the completion of the transaction, the senior vice president now directly owns 17,997 shares in the company, valued at approximately $755,694.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven W. Berglund sold 200,000 shares of Trimble Navigation stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $40.45, for a total value of $8,090,000.00. Following the transaction, the chief executive officer now owns 350,489 shares of the company’s stock, valued at $14,177,280.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 320,278 shares of company stock valued at $12,969,243. Insiders own 1.40% of the company’s stock.

A number of brokerages have weighed in on TRMB. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price objective (up previously from $42.00) on shares of Trimble Navigation in a report on Sunday, October 29th. Oppenheimer lifted their price objective on Trimble Navigation from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, October 27th. Wells Fargo & Company lifted their price objective on Trimble Navigation from $34.00 to $37.00 and gave the company a “market perform” rating in a report on Friday, October 27th. Zacks Investment Research lowered Trimble Navigation from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Finally, BidaskClub downgraded shares of Trimble Navigation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 7th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $41.70.

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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.

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

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