UBS Asset Management Americas Inc. cut its position in shares of Trimble Navigation Ltd. (NASDAQ:TRMB) by 5.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,025,346 shares of the scientific and technical instruments company’s stock after selling 122,407 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.80% of Trimble Navigation worth $72,244,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. BlackRock Inc. raised its stake in Trimble Navigation by 0.8% during the second quarter. BlackRock Inc. now owns 22,763,354 shares of the scientific and technical instruments company’s stock worth $811,967,000 after purchasing an additional 185,717 shares during the period. Vanguard Group Inc. raised its stake in Trimble Navigation by 4.5% during the first quarter. Vanguard Group Inc. now owns 20,464,940 shares of the scientific and technical instruments company’s stock worth $655,082,000 after purchasing an additional 879,694 shares during the period. Wellington Management Group LLP raised its stake in Trimble Navigation by 2.0% during the first quarter. Wellington Management Group LLP now owns 11,273,004 shares of the scientific and technical instruments company’s stock worth $360,849,000 after purchasing an additional 217,701 shares during the period. State Street Corp raised its stake in Trimble Navigation by 1.3% during the first quarter. State Street Corp now owns 8,157,478 shares of the scientific and technical instruments company’s stock worth $261,115,000 after purchasing an additional 103,450 shares during the period. Finally, King Luther Capital Management Corp raised its stake in Trimble Navigation by 1.6% during the first quarter. King Luther Capital Management Corp now owns 3,574,016 shares of the scientific and technical instruments company’s stock worth $114,404,000 after purchasing an additional 56,046 shares during the period. 89.85% of the stock is currently owned by institutional investors.

Shares of Trimble Navigation Ltd. (TRMB) opened at 39.76 on Friday. The stock has a 50 day moving average of $38.19 and a 200-day moving average of $35.51. Trimble Navigation Ltd. has a 1-year low of $25.30 and a 1-year high of $40.30. The stock has a market capitalization of $10.07 billion, a P/E ratio of 57.62 and a beta of 2.28.

Trimble Navigation (NASDAQ:TRMB) last released its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.02). Trimble Navigation had a return on equity of 12.71% and a net margin of 7.25%. 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 earnings per share. Trimble Navigation’s revenue was up 8.6% on a year-over-year basis. Equities research analysts predict that Trimble Navigation Ltd. will post $1.43 earnings per share for the current fiscal year.

In related news, SVP Darryl R. Matthews sold 3,714 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $38.66, for a total value of $143,583.24. Following the sale, the senior vice president now directly owns 2,000 shares of the company’s stock, valued at $77,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Chris Gibson sold 76,715 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $38.02, for a total transaction of $2,916,704.30. Following the completion of the sale, the vice president now directly owns 38,419 shares in the company, valued at $1,460,690.38. The disclosure for this sale can be found here. Insiders sold 252,688 shares of company stock worth $9,616,521 over the last three months. Corporate insiders own 1.40% of the company’s stock.

A number of equities analysts have commented on TRMB shares. Zacks Investment Research downgraded shares of Trimble Navigation from a “buy” rating to a “hold” rating in a research note on Monday, May 29th. Piper Jaffray Companies set a $43.00 target price on shares of Trimble Navigation and gave the stock a “buy” rating in a research note on Friday, August 25th. BidaskClub downgraded shares of Trimble Navigation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $41.00 target price (up from $39.00) on shares of Trimble Navigation in a research note on Friday, August 4th. Finally, Craig Hallum reaffirmed a “hold” rating and set a $36.00 target price (up from $30.00) on shares of Trimble Navigation in a research note on Thursday, August 3rd. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $41.11.

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Trimble Navigation Company Profile

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.

Institutional Ownership by Quarter for Trimble Navigation (NASDAQ:TRMB)

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