Trimble Navigation Ltd. (TRMB) Sets New 52-Week High at $27.82
Trimble Navigation Ltd. (NASDAQ:TRMB) hit a new 52-week high during trading on Friday . The company traded as high as $27.82 and last traded at $27.79, with a volume of 1,606,387 shares changing hands. The stock had previously closed at $27.14.
A number of brokerages have commented on TRMB. Wedbush raised their price objective on Trimble Navigation from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Friday, June 24th. TheStreet raised Trimble Navigation from a “hold” rating to a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. set a $29.00 price objective on Trimble Navigation and gave the company a “hold” rating in a research note on Wednesday. Morgan Stanley reissued a “hold” rating on shares of Trimble Navigation in a research note on Tuesday, April 26th. Finally, Raymond James Financial Inc. began coverage on Trimble Navigation in a research note on Monday, June 13th. They issued an “outperform” rating and a $30.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Trimble Navigation currently has a consensus rating of “Buy” and an average price target of $26.31.
The company has a 50 day moving average price of $25.66 and a 200 day moving average price of $24.21. The firm has a market cap of $6.96 billion and a price-to-earnings ratio of 60.41.
Trimble Navigation (NASDAQ:TRMB) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by $0.01. The business earned $609.60 million during the quarter, compared to analyst estimates of $611.79 million. Trimble Navigation’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the firm earned $0.28 earnings per share. Equities research analysts anticipate that Trimble Navigation Ltd. will post $1.18 EPS for the current fiscal year.
In other Trimble Navigation news, VP Chris Gibson sold 2,800 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $23.22, for a total transaction of $65,016.00. Following the transaction, the vice president now owns 28,138 shares in the company, valued at approximately $653,364.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jurgen Kliem sold 16,700 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $26.00, for a total value of $434,200.00. Following the transaction, the vice president now owns 21,693 shares in the company, valued at approximately $564,018. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently bought and sold shares of the company. Gulf International Bank UK Ltd increased its position in Trimble Navigation by 0.6% in the fourth quarter. Gulf International Bank UK Ltd now owns 78,522 shares of the company’s stock worth $1,684,000 after buying an additional 500 shares during the period. I.G. Investment Management LTD. increased its position in Trimble Navigation by 1.3% in the fourth quarter. I.G. Investment Management LTD. now owns 87,200 shares of the company’s stock worth $1,870,000 after buying an additional 1,100 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Trimble Navigation by 3.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 86,544 shares of the company’s stock worth $1,856,000 after buying an additional 2,544 shares during the period. First Trust Advisors LP increased its position in Trimble Navigation by 7.0% in the fourth quarter. First Trust Advisors LP now owns 107,471 shares of the company’s stock worth $2,305,000 after buying an additional 7,045 shares during the period. Finally, KBC Group NV increased its position in Trimble Navigation by 13.0% in the fourth quarter. KBC Group NV now owns 77,107 shares of the company’s stock worth $1,654,000 after buying an additional 8,876 shares during the period.
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.
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