Trimble Navigation Ltd. (TRMB) Reaches New 12-Month High at $28.09
Shares of Trimble Navigation Ltd. (NASDAQ:TRMB) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $28.09 and last traded at $27.86, with a volume of 636,929 shares traded. The stock had previously closed at $27.73.
Several analysts recently issued reports on TRMB shares. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Trimble Navigation in a research report on Monday, April 25th. Morgan Stanley reiterated a “hold” rating on shares of Trimble Navigation in a research report on Tuesday, April 26th. Wedbush reduced their price target on shares of Trimble Navigation from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, April 29th. Zacks Investment Research lowered shares of Trimble Navigation from a “hold” rating to a “sell” rating in a research report on Thursday, May 5th. Finally, FBR & Co began coverage on shares of Trimble Navigation in a research report on Wednesday, May 11th. They set an “outperform” rating and a $32.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $26.83.
The stock’s 50-day moving average is $25.94 and its 200-day moving average is $24.72. The firm has a market capitalization of $6.93 billion and a PE ratio of 60.48.
Trimble Navigation (NASDAQ:TRMB) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by $0.01. The firm had revenue of $609.60 million for the quarter, compared to the consensus estimate of $611.79 million. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.28 earnings per share. On average, analysts forecast that Trimble Navigation Ltd. will post $1.18 EPS for the current fiscal year.
In related news, VP Jurgen Kliem sold 16,700 shares of the company’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 transaction of $434,200.00. Following the sale, the vice president now owns 21,693 shares of the company’s stock, valued at approximately $564,018. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Chris Gibson sold 130,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $27.86, for a total transaction of $3,621,800.00. Following the sale, the vice president now directly owns 109,941 shares in the company, valued at approximately $3,062,956.26. The disclosure for this sale can be found here.
A number of hedge funds have recently bought and sold shares of the company. KBC Group NV raised its stake 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. Employees Retirement System of Texas raised its stake in Trimble Navigation by 12.1% in the fourth quarter. Employees Retirement System of Texas now owns 342,000 shares of the company’s stock worth $7,336,000 after buying an additional 37,000 shares during the period. I.G. Investment Management LTD. raised its stake 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. Finally, Trexquant Investment LP raised its stake in Trimble Navigation by 85.8% in the fourth quarter. Trexquant Investment LP now owns 91,800 shares of the company’s stock worth $1,969,000 after buying an additional 42,400 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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