Trimble Navigation Ltd. (NASDAQ:TRMB) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Trimble Navigation Ltd. (NASDAQ:TRMB) have earned an average recommendation of “Buy” from the fifteen analysts that are presently covering the firm. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $28.11.
Several research analysts recently issued reports on the stock. TheStreet lowered shares of Trimble Navigation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 13th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $32.00 target price on shares of Trimble Navigation in a research report on Tuesday, September 13th. Dougherty & Co reiterated a “buy” rating and issued a $32.00 target price on shares of Trimble Navigation in a research report on Monday, September 12th. JPMorgan Chase & Co. set a $29.00 target price on shares of Trimble Navigation and gave the stock a “hold” rating in a research report on Wednesday, August 3rd. Finally, Zacks Investment Research lowered shares of Trimble Navigation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 28th.
In other news, CEO Steven W. Berglund sold 36,000 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $27.43, for a total transaction of $987,480.00. Following the completion of the transaction, the chief executive officer now directly owns 78,183 shares of the company’s stock, valued at $2,144,559.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Jurgen Kliem sold 16,700 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $26.00, for a total transaction of $434,200.00. Following the transaction, the vice president now directly owns 21,693 shares of the company’s stock, valued at $564,018. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
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A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Trimble Navigation by 2.9% in the second quarter. Vanguard Group Inc. now owns 18,758,581 shares of the company’s stock worth $456,959,000 after buying an additional 524,734 shares during the last quarter. Primecap Management Co. CA increased its position in Trimble Navigation by 1.8% in the first quarter. Primecap Management Co. CA now owns 13,319,816 shares of the company’s stock worth $330,331,000 after buying an additional 230,400 shares during the last quarter. BlackRock Fund Advisors increased its position in Trimble Navigation by 5.0% in the second quarter. BlackRock Fund Advisors now owns 8,900,853 shares of the company’s stock worth $216,825,000 after buying an additional 421,545 shares during the last quarter. State Street Corp increased its position in Trimble Navigation by 1.0% in the second quarter. State Street Corp now owns 8,370,428 shares of the company’s stock worth $203,900,000 after buying an additional 80,092 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in Trimble Navigation by 2.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 7,691,558 shares of the company’s stock worth $187,366,000 after buying an additional 174,325 shares during the last quarter. 90.16% of the stock is owned by institutional investors.
Shares of Trimble Navigation (NASDAQ:TRMB) traded down 1.21% during mid-day trading on Friday, reaching $28.46. The company’s stock had a trading volume of 529,387 shares. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of 61.87 and a beta of 2.20. Trimble Navigation has a 12 month low of $17.06 and a 12 month high of $28.89. The company’s 50-day moving average is $27.49 and its 200 day moving average is $25.89.
Trimble Navigation (NASDAQ:TRMB) last announced its earnings results on Tuesday, August 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by $0.01. Trimble Navigation had a return on equity of 11.00% and a net margin of 5.04%. The company earned $609.60 million during the quarter, compared to analysts’ expectations of $611.79 million. During the same quarter last year, the firm posted $0.28 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. On average, equities analysts anticipate that Trimble Navigation will post $1.18 EPS for the current year.
About Trimble Navigation
Trimble Navigation Limited is a provider of technology solutions for professionals and field mobile workers to transform work processes. The Company operates through four segments: Engineering and Construction, Field Solutions, Mobile Solutions and Advanced Devices. Its products include equipment that automates large industrial equipment, such as tractors and bulldozers; integrated systems that track fleets of vehicles and workers and provide information and analytics to the back-office; data collection systems that enable the management of geo-referenced information; software solutions that connect all aspects of a construction site or a farm, and building information modeling (BIM) software that is used throughout the design, build and operation of buildings.
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