Trimble Navigation (NASDAQ:TRMB) announced that its Board of Directors has initiated a stock buyback program, which authorizes the company to repurchase $600.00 million in outstanding shares on Wednesday, November 15th, EventVestor reports. This repurchase authorization authorizes the scientific and technical instruments company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

TRMB has been the topic of several research reports. Piper Jaffray Companies set a $43.00 target price on shares of Trimble Navigation and gave the stock a “buy” rating in a report on Friday, August 25th. Dougherty & Co lifted their price target 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. Needham & Company LLC restated a “buy” rating and set a $42.00 price objective (up from $37.00) on shares of Trimble Navigation in a research report on Thursday, August 3rd. BidaskClub upgraded shares of Trimble Navigation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Trimble Navigation in a research report on Thursday, October 19th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $41.70.

Shares of Trimble Navigation (NASDAQ:TRMB) opened at $41.42 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.44 and a debt-to-equity ratio of 0.22. The stock has a market cap of $10,500.00, a price-to-earnings ratio of 33.04, a price-to-earnings-growth ratio of 2.90 and a beta of 2.33. Trimble Navigation has a fifty-two week low of $27.18 and a fifty-two week high of $43.97.

Trimble Navigation (NASDAQ:TRMB) last announced its quarterly earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $670.00 million for the quarter, compared to the consensus estimate of $660.11 million. Trimble Navigation had a net margin of 7.66% and a return on equity of 12.97%. Trimble Navigation’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 EPS. equities research analysts predict that Trimble Navigation will post 1.27 earnings per share for the current year.

In other Trimble Navigation news, VP Chris Gibson sold 23,430 shares of Trimble Navigation stock in a transaction on Monday, August 28th. The shares were sold at an average price of $38.01, for a total value of $890,574.30. Following the completion of the transaction, the vice president now directly owns 38,419 shares of the company’s stock, valued at approximately $1,460,306.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP James A. Kirkland sold 25,570 shares of Trimble Navigation stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $41.01, for a total transaction of $1,048,625.70. Following the completion of the transaction, the vice president now directly owns 50,221 shares of the company’s stock, valued at $2,059,563.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 501,440 shares of company stock worth $19,807,647. 1.40% of the stock is currently owned by insiders.

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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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