Trimble Navigation Ltd. (TRMB) Rating Reiterated by Oppenheimer Holdings Inc.
Trimble Navigation Ltd. (NASDAQ:TRMB)‘s stock had its “outperform” rating reissued by investment analysts at Oppenheimer Holdings Inc. in a report released on Thursday. They presently have a $32.00 price objective on the stock. Oppenheimer Holdings Inc.’s price target suggests a potential upside of 13.39% from the company’s previous close.
Several other brokerages have also weighed in on TRMB. Wedbush increased their target price on shares of Trimble Navigation from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Friday, June 24th. TheStreet raised shares of Trimble Navigation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. JPMorgan Chase & Co. set a $29.00 target price on shares of Trimble Navigation and gave the stock a “hold” rating in a research note on Wednesday, August 3rd. Dougherty & Co reaffirmed a “buy” rating and set a $32.00 target price on shares of Trimble Navigation in a research note on Monday, September 12th. Finally, Zacks Investment Research lowered shares of Trimble Navigation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $27.83.
Shares of Trimble Navigation (NASDAQ:TRMB) traded down 0.92% on Thursday, reaching $27.96. 302,108 shares of the company’s stock were exchanged. Trimble Navigation has a one year low of $17.37 and a one year high of $28.99. The firm has a market capitalization of $6.97 billion, a P/E ratio of 60.78 and a beta of 2.20. The firm has a 50 day moving average of $27.56 and a 200 day moving average of $25.99.
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Trimble Navigation (NASDAQ:TRMB) last announced its earnings results on Tuesday, August 2nd. The company reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The company had revenue of $609.60 million for the quarter, compared to analysts’ expectations of $611.79 million. Trimble Navigation had a return on equity of 11.00% and a net margin of 5.04%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business earned $0.28 EPS. On average, equities research analysts predict that Trimble Navigation will post $1.18 EPS for the current year.
In related news, SVP Darryl R. Matthews sold 5,714 shares of Trimble Navigation stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $27.39, for a total value of $156,506.46. Following the completion of the transaction, the senior vice president now owns 8,401 shares in the company, valued at $230,103.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jurgen Kliem sold 16,700 shares of Trimble Navigation stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $26.00, for a total transaction of $434,200.00. Following the completion of the transaction, the vice president now owns 21,693 shares of the company’s stock, valued at approximately $564,018. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio increased its position in shares of Trimble Navigation by 59.2% in the second quarter. Strs Ohio now owns 6,841 shares of the company’s stock worth $166,000 after buying an additional 2,544 shares in the last quarter. Eqis Capital Management Inc. purchased a new position in shares of Trimble Navigation during the third quarter worth about $201,000. Cantab Capital Partners LLP increased its position in shares of Trimble Navigation by 309.1% in the second quarter. Cantab Capital Partners LLP now owns 8,342 shares of the company’s stock worth $203,000 after buying an additional 6,303 shares in the last quarter. WMS Partners LLC purchased a new position in shares of Trimble Navigation during the second quarter worth about $247,000. Finally, Westpac Banking Corp boosted its stake in Trimble Navigation by 33.1% in the second quarter. Westpac Banking Corp now owns 12,563 shares of the company’s stock worth $306,000 after buying an additional 3,121 shares during the last quarter. Institutional investors own 90.16% of the company’s stock.
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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