Trimble Navigation Ltd. (NASDAQ:TRMB)‘s stock had its “buy” rating reiterated by stock analysts at Dougherty & Co in a research note issued to investors on Monday. They presently have a $32.00 price target on the stock. Dougherty & Co’s price target points to a potential upside of 23.08% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut Trimble Navigation from an “overweight” rating to a “neutral” rating and set a $27.00 target price for the company. in a research note on Tuesday, June 28th. TheStreet upgraded Trimble Navigation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. Raymond James Financial Inc. initiated coverage on Trimble Navigation in a research note on Monday, June 13th. They set an “outperform” rating and a $30.00 target price for the company. Zacks Investment Research cut Trimble Navigation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 28th. Finally, Wedbush boosted their target price on Trimble Navigation from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Friday, June 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $27.23.
Trimble Navigation (NASDAQ:TRMB) opened at 26.00 on Monday. Trimble Navigation has a 12 month low of $15.90 and a 12 month high of $28.09. The stock’s 50 day moving average price is $27.21 and its 200-day moving average price is $25.45. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 56.52 and a beta of 2.12.
Trimble Navigation (NASDAQ:TRMB) last posted its earnings results on Tuesday, August 2nd. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by $0.01. The business had revenue of $609.60 million for the quarter, compared to analysts’ expectations of $611.79 million. Trimble Navigation had a return on equity of 11.00% and a net margin of 5.04%. Trimble Navigation’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 EPS. Equities research analysts predict that Trimble Navigation will post $1.18 EPS for the current year.
In other news, CFO Robert G. Painter sold 4,562 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $27.59, for a total value of $125,865.58. Following the transaction, the chief financial officer now owns 17,899 shares of the company’s stock, valued at $493,833.41. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jurgen Kliem sold 16,700 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $26.00, for a total value of $434,200.00. Following the completion of the transaction, the vice president now directly owns 21,693 shares in the company, valued at approximately $564,018. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Trimble Navigation during the fourth quarter worth about $51,268,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Trimble Navigation by 6.9% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 77,865 shares of the company’s stock worth $1,931,000 after buying an additional 4,997 shares during the last quarter. Independent Portfolio Consultants Inc. raised its position in Trimble Navigation by 11.8% in the first quarter. Independent Portfolio Consultants Inc. now owns 14,185 shares of the company’s stock worth $352,000 after buying an additional 1,495 shares during the last quarter. PGGM Investments bought a new position in Trimble Navigation during the first quarter worth about $7,726,000. Finally, Aperio Group LLC raised its position in Trimble Navigation by 27.6% in the first quarter. Aperio Group LLC now owns 44,994 shares of the company’s stock worth $1,116,000 after buying an additional 9,719 shares during the last quarter. 89.87% of the stock is currently owned by institutional investors and hedge funds.
About Trimble Navigation
Trimble Navigation Limited is a provider of technology solutions for professionals and field mobile workers to transform work processes. The Company operates through four segments: Engineering and Construction, Field Solutions, Mobile Solutions and Advanced Devices. Its products include equipment that automates large industrial equipment, such as tractors and bulldozers; integrated systems that track fleets of vehicles and workers and provide information and analytics to the back-office; data collection systems that enable the management of geo-referenced information; software solutions that connect all aspects of a construction site or a farm, and building information modeling (BIM) software that is used throughout the design, build and operation of buildings.