Needham & Company LLC Reiterates “Buy” Rating for Trimble Navigation Ltd. (NASDAQ:TRMB)
Needham & Company LLC reaffirmed their buy rating on shares of Trimble Navigation Ltd. (NASDAQ:TRMB) in a report published on Thursday morning. Needham & Company LLC currently has a $42.00 price objective on the scientific and technical instruments company’s stock, up from their previous price objective of $37.00.
Other analysts have also issued research reports about the stock. Dougherty & Co increased their price objective on shares of Trimble Navigation from $40.00 to $45.00 and gave the stock a buy rating in a research note on Wednesday, July 26th. Piper Jaffray Companies reiterated a buy rating and issued a $39.00 price objective on shares of Trimble Navigation in a research note on Wednesday, July 12th. Zacks Investment Research upgraded shares of Trimble Navigation from a hold rating to a buy rating and set a $40.00 price objective on the stock in a research note on Tuesday, May 2nd. Craig Hallum reiterated a hold rating and issued a $36.00 price objective (up previously from $30.00) on shares of Trimble Navigation in a research note on Thursday. Finally, BidaskClub lowered shares of Trimble Navigation from a buy rating to a hold rating in a research note on Tuesday, August 1st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Trimble Navigation presently has a consensus rating of Buy and a consensus price target of $40.50.
Shares of Trimble Navigation (NASDAQ:TRMB) traded up 0.05% on Thursday, hitting $37.77. 103,742 shares of the stock traded hands. Trimble Navigation has a one year low of $25.30 and a one year high of $39.00. The stock has a 50 day moving average of $36.91 and a 200 day moving average of $33.67. The company has a market cap of $9.56 billion, a PE ratio of 54.74 and a beta of 2.31.
Trimble Navigation (NASDAQ:TRMB) last released its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.02. The business had revenue of $661.90 million during the quarter, compared to analyst estimates of $643.05 million. Trimble Navigation had a return on equity of 12.71% and a net margin of 7.25%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.29 EPS. Equities analysts anticipate that Trimble Navigation will post $1.42 earnings per share for the current year.
In related news, Director Steeg Nickolas Vande sold 41,717 shares of the firm’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $35.80, for a total transaction of $1,493,468.60. Following the sale, the director now owns 56,370 shares in the company, valued at $2,018,046. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kaigham Gabriel sold 6,000 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $35.53, for a total transaction of $213,180.00. Following the sale, the director now owns 10,670 shares in the company, valued at approximately $379,105.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 142,263 shares of company stock worth $5,094,328. 1.40% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Twin Tree Management LP purchased a new stake in Trimble Navigation during the first quarter valued at approximately $124,000. Acadian Asset Management LLC purchased a new stake in Trimble Navigation during the second quarter valued at approximately $134,000. Huntington National Bank raised its stake in Trimble Navigation by 1.8% in the first quarter. Huntington National Bank now owns 4,552 shares of the scientific and technical instruments company’s stock valued at $146,000 after buying an additional 82 shares in the last quarter. IFP Advisors Inc raised its stake in Trimble Navigation by 34.8% in the first quarter. IFP Advisors Inc now owns 4,760 shares of the scientific and technical instruments company’s stock valued at $152,000 after buying an additional 1,228 shares in the last quarter. Finally, FNY Partners Fund LP raised its stake in Trimble Navigation by 71.4% in the first quarter. FNY Partners Fund LP now owns 4,800 shares of the scientific and technical instruments company’s stock valued at $153,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 90.40% of the company’s stock.
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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