Trimble Navigation Ltd. (TRMB) Short Interest Update
Trimble Navigation Ltd. (NASDAQ:TRMB) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 3,153,120 shares, a growth of 52.9% from the August 15th total of 2,062,575 shares. Currently, 1.3% of the company’s shares are short sold. Based on an average daily volume of 904,150 shares, the days-to-cover ratio is presently 3.5 days.
In other Trimble Navigation news, SVP Darryl R. Matthews sold 3,714 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $38.66, for a total transaction of $143,583.24. Following the completion of the sale, the senior vice president now owns 2,000 shares of the company’s stock, valued at approximately $77,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James A. Kirkland sold 10,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $37.60, for a total transaction of $376,000.00. Following the sale, the vice president now directly owns 31,781 shares of the company’s stock, valued at approximately $1,194,965.60. The disclosure for this sale can be found here. Insiders have sold a total of 252,688 shares of company stock valued at $9,616,521 in the last three months. Insiders own 1.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Creative Planning grew its stake in Trimble Navigation by 0.3% in the second quarter. Creative Planning now owns 17,392 shares of the scientific and technical instruments company’s stock worth $620,000 after purchasing an additional 51 shares during the period. Advisor Group Inc. grew its stake in Trimble Navigation by 3.7% in the second quarter. Advisor Group Inc. now owns 4,016 shares of the scientific and technical instruments company’s stock worth $142,000 after purchasing an additional 144 shares during the period. Nordea Investment Management AB grew its stake in Trimble Navigation by 2.4% in the second quarter. Nordea Investment Management AB now owns 9,588 shares of the scientific and technical instruments company’s stock worth $342,000 after purchasing an additional 226 shares during the period. Symphony Asset Management LLC grew its stake in Trimble Navigation by 0.6% in the second quarter. Symphony Asset Management LLC now owns 48,938 shares of the scientific and technical instruments company’s stock worth $1,746,000 after purchasing an additional 295 shares during the period. Finally, Chartwell Investment Partners LLC grew its stake in Trimble Navigation by 1.6% in the second quarter. Chartwell Investment Partners LLC now owns 20,318 shares of the scientific and technical instruments company’s stock worth $725,000 after purchasing an additional 320 shares during the period. 90.06% of the stock is currently owned by institutional investors.
A number of equities analysts have issued reports on the company. Dougherty & Co increased their price target on Trimble Navigation from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. BidaskClub upgraded Trimble Navigation from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. 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 stock a “buy” rating in a report on Friday, August 25th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $41.00 price target (up from $39.00) on shares of Trimble Navigation in a report on Friday, August 4th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $40.75.
Trimble Navigation (NASDAQ:TRMB) opened at 39.66 on Friday. The company has a market capitalization of $10.04 billion, a PE ratio of 57.48 and a beta of 2.28. Trimble Navigation has a one year low of $25.30 and a one year high of $40.06. The company has a 50 day moving average price of $38.04 and a 200-day moving average price of $35.33.
Trimble Navigation (NASDAQ:TRMB) last issued its quarterly earnings results 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). The firm had revenue of $661.90 million during the quarter, compared to analysts’ expectations of $643.05 million. Trimble Navigation had a return on equity of 12.71% and a net margin of 7.25%. Trimble Navigation’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 earnings per share. Analysts expect that Trimble Navigation will post $1.43 EPS for the current fiscal year.
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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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