Zacks Investment Research lowered shares of Trimble Navigation Ltd. (NASDAQ:TRMB) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “Trimble is an OEM of GPS-based products and control systems. The company reported strong second-quarter 2017 results with both the top and the bottom line surpassing the Zacks Consensus Estimate.The company’s initiatives toward lowering the cost structure to another framework and making strategic acquisitions, along with the increased adoption of technology in the agricultural market, product enhancements and international expansion should also see it through the current market environment. Nonetheless, exchange rates and deferred revenue accounting effects. Over the past one year, the stock has outperformed the Zacks characterized Electronic Products Miscellaneous industry.”
TRMB has been the subject of several other research reports. Needham & Company LLC increased their price target on Trimble Navigation from $33.00 to $37.00 and gave the company a buy rating in a report on Friday, April 28th. BidaskClub cut Trimble Navigation from a buy rating to a hold rating in a report on Tuesday, August 1st. Oppenheimer Holdings, Inc. reaffirmed an outperform rating and issued a $41.00 price target (up previously from $39.00) on shares of Trimble Navigation in a report on Friday, August 4th. Craig Hallum increased their price target on Trimble Navigation from $24.00 to $30.00 and gave the company a hold rating in a report on Friday, April 28th. Finally, Dougherty & Co increased their price target on Trimble Navigation from $40.00 to $45.00 and gave the company a buy rating in a report on Wednesday, July 26th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $41.00.
Trimble Navigation (NASDAQ:TRMB) traded up 0.83% during trading on Tuesday, hitting $36.48. The stock had a trading volume of 1,444,007 shares. Trimble Navigation has a 12 month low of $25.30 and a 12 month high of $39.45. The company’s 50 day moving average is $37.06 and its 200-day moving average is $34.00. The company has a market cap of $9.23 billion, a PE ratio of 52.87 and a beta of 2.31.
Trimble Navigation (NASDAQ:TRMB) last posted its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by $0.02. Trimble Navigation had a net margin of 7.25% and a return on equity of 12.71%. The company had revenue of $661.90 million during the quarter, compared to analyst estimates of $643.05 million. During the same period in the prior year, the business posted $0.29 EPS. Trimble Navigation’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities research analysts predict that Trimble Navigation will post $1.43 earnings per share for the current year.
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In other Trimble Navigation news, VP James A. Kirkland sold 10,000 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $37.60, for a total transaction of $376,000.00. Following the completion of the sale, the vice president now owns 31,781 shares of the company’s stock, valued at $1,194,965.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP James Veneziano sold 9,426 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $35.73, for a total value of $336,790.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,061 shares of company stock valued at $4,032,293. 1.40% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of TRMB. BlackRock Inc. boosted its stake in Trimble Navigation by 6,646.3% in the first quarter. BlackRock Inc. now owns 22,577,637 shares of the scientific and technical instruments company’s stock valued at $722,710,000 after buying an additional 22,242,969 shares during the period. Vanguard Group Inc. boosted its stake in Trimble Navigation by 4.5% in the first quarter. Vanguard Group Inc. now owns 20,464,940 shares of the scientific and technical instruments company’s stock valued at $655,082,000 after buying an additional 879,694 shares during the period. Pictet Asset Management Ltd. boosted its stake in Trimble Navigation by 34.9% in the first quarter. Pictet Asset Management Ltd. now owns 3,191,804 shares of the scientific and technical instruments company’s stock valued at $102,169,000 after buying an additional 826,494 shares during the period. Russell Investments Group Ltd. boosted its stake in Trimble Navigation by 157.6% in the first quarter. Russell Investments Group Ltd. now owns 923,324 shares of the scientific and technical instruments company’s stock valued at $29,555,000 after buying an additional 564,878 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Trimble Navigation by 405.7% in the second quarter. Renaissance Technologies LLC now owns 633,844 shares of the scientific and technical instruments company’s stock valued at $22,609,000 after buying an additional 508,500 shares during the period. 90.40% of the stock is owned by institutional investors.
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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