BidaskClub Downgrades Trimble Navigation (TRMB) to Buy
Trimble Navigation (NASDAQ:TRMB) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.
Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded Trimble Navigation from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Wells Fargo & Company upped their price objective on Trimble Navigation from $34.00 to $37.00 and gave the stock a “market perform” rating in a research report on Friday, October 27th. Needham & Company LLC restated a “buy” rating and set a $45.00 price objective (up from $42.00) on shares of Trimble Navigation in a research report on Sunday, October 29th. Oppenheimer upped their target price on Trimble Navigation from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Finally, Piper Jaffray Companies set a $43.00 target price on Trimble Navigation and gave the stock a “buy” rating in a report on Friday, August 25th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $41.70.
Shares of Trimble Navigation (TRMB) traded up $0.14 during mid-day trading on Thursday, hitting $40.87. The company had a trading volume of 1,193,693 shares, compared to its average volume of 999,343. The company has a current ratio of 1.44, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. Trimble Navigation has a twelve month low of $28.61 and a twelve month high of $43.97. The company has a market cap of $10,380.12, a P/E ratio of 32.98, a P/E/G ratio of 2.89 and a beta of 2.35.
Trimble Navigation announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, November 15th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the scientific and technical instruments company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In other news, VP Jurgen Kliem sold 995 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $42.50, for a total value of $42,287.50. Following the completion of the sale, the vice president now owns 18,175 shares of the company’s stock, valued at $772,437.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Darryl R. Matthews sold 1,094 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $40.51, for a total value of $44,317.94. Following the completion of the sale, the senior vice president now directly owns 4,475 shares of the company’s stock, valued at approximately $181,282.25. The disclosure for this sale can be found here. In the last three months, insiders sold 320,278 shares of company stock valued at $12,969,243. Insiders own 1.40% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Toronto Dominion Bank increased its stake in shares of 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 buying an additional 357 shares during the period. Commonwealth Bank of Australia boosted its position in shares of Trimble Navigation by 17.2% during the 2nd 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 in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Trimble Navigation during the 2nd quarter valued at about $134,000. Fieldpoint Private Securities LLC bought a new stake in shares of Trimble Navigation during the 3rd quarter valued at about $137,000. Finally, Howe & Rusling Inc. bought a new stake in shares of Trimble Navigation during the 3rd quarter valued at about $139,000. 89.74% of the stock is owned by 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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