Trimble Navigation Ltd. (TRMB) Price Target Raised to $45.00 at Oppenheimer Holdings, Inc.
Trimble Navigation Ltd. (NASDAQ:TRMB) had its price target increased by stock analysts at Oppenheimer Holdings, Inc. from $41.00 to $45.00 in a note issued to investors on Friday. The firm currently has an “outperform” rating on the scientific and technical instruments company’s stock. Oppenheimer Holdings, Inc.’s price objective suggests a potential upside of 4.92% from the company’s previous close.
A number of other research firms also recently weighed in on TRMB. Dougherty & Co boosted their target price on Trimble Navigation from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Needham & Company LLC restated a “buy” rating and issued a $42.00 target price (up previously from $37.00) on shares of Trimble Navigation in a research report on Thursday, August 3rd. Zacks Investment Research downgraded Trimble Navigation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Craig Hallum restated a “hold” rating and issued a $36.00 target price (up previously from $30.00) on shares of Trimble Navigation in a research report on Thursday, August 3rd. Finally, Berenberg Bank initiated coverage on Trimble Navigation in a research report on Wednesday, August 23rd. They issued a “hold” rating and a $38.00 target price for the company. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $41.10.
Trimble Navigation (NASDAQ TRMB) traded up 4.08% on Friday, hitting $42.89. 2,585,714 shares of the stock were exchanged. The company has a 50-day moving average price of $40.11 and a 200-day moving average price of $37.13. The firm has a market cap of $10.86 billion, a PE ratio of 62.16 and a beta of 2.30. Trimble Navigation has a 52-week low of $25.30 and a 52-week high of $43.97.
Trimble Navigation (NASDAQ:TRMB) last released its earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. The company had revenue of $670.00 million during the quarter, compared to the consensus estimate of $660.11 million. Trimble Navigation had a return on equity of 12.71% and a net margin of 7.25%. Trimble Navigation’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. On average, equities research analysts anticipate that Trimble Navigation will post $1.43 EPS for the current fiscal year.
In other Trimble Navigation news, SVP Darryl R. Matthews sold 3,714 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $38.66, for a total value of $143,583.24. Following the completion of the sale, the senior vice president now owns 2,000 shares in the company, valued at $77,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Merit E. Janow sold 33,334 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $37.76, for a total value of $1,258,691.84. Following the completion of the sale, the director now owns 26,004 shares of the company’s stock, valued at approximately $981,911.04. The disclosure for this sale can be found here. Insiders sold 252,688 shares of company stock valued at $9,616,521 in the last quarter. Corporate insiders own 1.40% of the company’s stock.
A number of hedge funds have recently made changes to their positions in TRMB. Toronto Dominion Bank lifted its position in Trimble Navigation by 13.0% in the second quarter. Toronto Dominion Bank now owns 3,100 shares of the scientific and technical instruments company’s stock valued at $111,000 after purchasing an additional 357 shares during the last quarter. Commonwealth Bank of Australia lifted its position in Trimble Navigation by 17.2% in the second quarter. Commonwealth Bank of Australia now owns 3,400 shares of the scientific and technical instruments company’s stock valued at $121,000 after purchasing an additional 500 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Trimble Navigation in the second quarter valued at approximately $134,000. Howe & Rusling Inc. bought a new stake in Trimble Navigation in the third quarter valued at approximately $139,000. Finally, Advisor Group Inc. lifted its position 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 valued at $142,000 after purchasing an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 89.97% of the company’s stock.
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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