Trimble Navigation Ltd. (TRMB) Given Consensus Rating of “Buy” by Brokerages
Shares of Trimble Navigation Ltd. (NASDAQ:TRMB) have received a consensus recommendation of “Buy” from the twelve research firms that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $40.88.
TRMB has been the topic of a number of recent analyst reports. Piper Jaffray Companies set a $43.00 price objective on Trimble Navigation and gave the stock a “buy” rating in a research note on Friday, August 25th. BidaskClub downgraded Trimble Navigation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $41.00 target price (up previously from $39.00) on shares of Trimble Navigation in a research report on Friday, August 4th. Zacks Investment Research downgraded Trimble Navigation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, Craig Hallum restated a “hold” rating and set a $36.00 target price (up previously from $30.00) on shares of Trimble Navigation in a research report on Thursday, August 3rd.
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In other Trimble Navigation news, VP James A. Kirkland sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $37.60, for a total value of $376,000.00. Following the sale, the vice president now owns 31,781 shares in the company, valued at $1,194,965.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP James A. Kirkland sold 7,183 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $37.41, for a total value of $268,716.03. Following the completion of the sale, the vice president now owns 14,598 shares in the company, valued at approximately $546,111.18. The disclosure for this sale can be found here. Insiders have sold 252,688 shares of company stock valued at $9,616,521 over the last three months. Insiders own 1.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Trimble Navigation by 0.8% in the second quarter. BlackRock Inc. now owns 22,763,354 shares of the scientific and technical instruments company’s stock valued at $811,967,000 after buying an additional 185,717 shares during the period. Vanguard Group Inc. increased its stake in shares of Trimble Navigation by 4.2% during the second quarter. Vanguard Group Inc. now owns 21,314,854 shares of the scientific and technical instruments company’s stock worth $760,302,000 after purchasing an additional 849,914 shares during the period. State Street Corp increased its stake in shares of Trimble Navigation by 0.4% during the second quarter. State Street Corp now owns 8,192,632 shares of the scientific and technical instruments company’s stock worth $292,228,000 after purchasing an additional 35,154 shares during the period. Capital International Investors increased its stake in shares of Trimble Navigation by 8.6% during the second quarter. Capital International Investors now owns 8,029,625 shares of the scientific and technical instruments company’s stock worth $286,417,000 after purchasing an additional 639,190 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Trimble Navigation by 2.4% during the second quarter. Northern Trust Corp now owns 2,500,633 shares of the scientific and technical instruments company’s stock worth $89,198,000 after purchasing an additional 58,464 shares during the period. Hedge funds and other institutional investors own 89.85% of the company’s stock.
Shares of Trimble Navigation (TRMB) traded up 0.27% on Wednesday, hitting $40.70. The stock had a trading volume of 41,010 shares. The company has a market cap of $10.30 billion, a price-to-earnings ratio of 58.99 and a beta of 2.30. The firm has a 50 day moving average price of $39.33 and a 200-day moving average price of $36.42. Trimble Navigation has a 52 week low of $25.30 and a 52 week high of $40.87.
Trimble Navigation (NASDAQ:TRMB) last posted its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The business had revenue of $661.90 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 EPS. Analysts anticipate that Trimble Navigation will post $1.43 EPS for the current year.
About Trimble Navigation
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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