Trimble Navigation Ltd. (NASDAQ:TRMB) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday. The firm presently has a $43.00 price target on the scientific and technical instruments company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 13.91% from the company’s previous close.

According to Zacks, “Trimble is an OEM of GPS-based products and control systems. The company reported strong second-quarter 2017 results with both the top and the bottom line surpassing the Zacks Consensus Estimate.The company’s initiatives toward lowering the cost structure to another framework and making strategic acquisitions, along with the increased adoption of technology in the agricultural market, product enhancements and international expansion should also see it through the current market environment. Nonetheless, exchange rates and deferred revenue accounting effects. Over the past one year, the stock has outperformed the Zacks characterized Electronic Products Miscellaneous industry.”

Several other equities research analysts also recently weighed in on the company. Oppenheimer Holdings, Inc. raised their price objective on Trimble Navigation from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, May 1st. Craig Hallum lifted their target price on Trimble Navigation from $24.00 to $30.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Needham & Company LLC lifted their target price on Trimble Navigation from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Dougherty & Co raised Trimble Navigation from a “neutral” rating to a “buy” rating in a report on Friday, April 28th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $39.00 target price on shares of Trimble Navigation in a report on Wednesday, July 12th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Trimble Navigation presently has an average rating of “Buy” and a consensus price target of $41.00.

Trimble Navigation (TRMB) traded up 0.42% during midday trading on Monday, reaching $37.91. The company had a trading volume of 396,261 shares. The company has a market capitalization of $9.59 billion, a PE ratio of 54.94 and a beta of 2.31. Trimble Navigation has a 12-month low of $25.30 and a 12-month high of $39.00. The stock has a 50-day moving average price of $36.91 and a 200 day moving average price of $33.67.

Trimble Navigation (NASDAQ:TRMB) last released its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.02. Trimble Navigation had a net margin of 7.25% and a return on equity of 12.71%. The firm had revenue of $661.90 million for the quarter, compared to analyst estimates of $643.05 million. During the same period last year, the business earned $0.29 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. Equities analysts forecast that Trimble Navigation will post $1.42 EPS for the current year.

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In other Trimble Navigation news, Director Kaigham Gabriel sold 6,000 shares of Trimble Navigation stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $35.53, for a total transaction of $213,180.00. Following the transaction, the director now directly owns 10,670 shares of the company’s stock, valued at approximately $379,105.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Julie A. Shepard sold 27,819 shares of Trimble Navigation stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $35.59, for a total value of $990,078.21. Following the transaction, the vice president now directly owns 38,410 shares in the company, valued at $1,367,011.90. The disclosure for this sale can be found here. Insiders have sold a total of 142,263 shares of company stock worth $5,094,328 over the last ninety days. Company insiders own 1.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Trimble Navigation by 6,646.3% in the first quarter. BlackRock Inc. now owns 22,577,637 shares of the scientific and technical instruments company’s stock worth $722,710,000 after buying an additional 22,242,969 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Trimble Navigation by 4.5% in the first quarter. Vanguard Group Inc. now owns 20,464,940 shares of the scientific and technical instruments company’s stock worth $655,082,000 after buying an additional 879,694 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Trimble Navigation by 2.0% in the first quarter. Wellington Management Group LLP now owns 11,273,004 shares of the scientific and technical instruments company’s stock worth $360,849,000 after buying an additional 217,701 shares in the last quarter. State Street Corp increased its position in shares of Trimble Navigation by 1.3% in the first quarter. State Street Corp now owns 8,157,478 shares of the scientific and technical instruments company’s stock worth $261,115,000 after buying an additional 103,450 shares in the last quarter. Finally, King Luther Capital Management Corp increased its position in shares of Trimble Navigation by 1.6% in the first quarter. King Luther Capital Management Corp now owns 3,574,016 shares of the scientific and technical instruments company’s stock worth $114,404,000 after buying an additional 56,046 shares in the last quarter. 90.40% of the stock is currently owned by hedge funds and other institutional investors.

Trimble Navigation Company 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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Analyst Recommendations for Trimble Navigation (NASDAQ:TRMB)

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