Bessemer Group Inc. Cuts Holdings in Trimble Navigation Ltd. (TRMB)
Bessemer Group Inc. decreased its holdings in shares of Trimble Navigation Ltd. (NASDAQ:TRMB) by 29.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,461 shares of the scientific and technical instruments company’s stock after selling 4,344 shares during the quarter. Bessemer Group Inc.’s holdings in Trimble Navigation were worth $411,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Toronto Dominion Bank lifted its holdings in Trimble Navigation by 13.0% during the 2nd quarter. Toronto Dominion Bank now owns 3,100 shares of the scientific and technical instruments company’s stock valued at $111,000 after purchasing an additional 357 shares during the last quarter. Commonwealth Bank of Australia lifted its holdings in Trimble Navigation by 17.2% during the 2nd quarter. Commonwealth Bank of Australia now owns 3,400 shares of the scientific and technical instruments company’s stock valued at $121,000 after purchasing an additional 500 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Trimble Navigation during the 2nd quarter valued at $134,000. Howe & Rusling Inc. acquired a new stake in Trimble Navigation during the 3rd quarter valued at $139,000. Finally, Advisor Group Inc. lifted its holdings in Trimble Navigation by 3.7% during the 2nd quarter. Advisor Group Inc. now owns 4,016 shares of the scientific and technical instruments company’s stock valued at $142,000 after purchasing an additional 144 shares during the last quarter. 90.85% of the stock is owned by institutional investors and hedge funds.
TRMB has been the subject of several research reports. Piper Jaffray Companies set a $43.00 target price on Trimble Navigation and gave the stock a “buy” rating in a report on Friday, August 25th. Dougherty & Co lifted their target price on Trimble Navigation from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Needham & Company LLC reissued a “buy” rating and set a $42.00 target price (up previously from $37.00) on shares of Trimble Navigation in a report on Thursday, August 3rd. BidaskClub raised Trimble Navigation from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Trimble Navigation in a report on Thursday, October 19th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $41.70.
In related news, VP Chris Gibson sold 23,430 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $38.01, for a total value of $890,574.30. Following the transaction, the vice president now owns 38,419 shares in the company, valued at $1,460,306.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James A. Kirkland sold 25,570 shares of Trimble Navigation stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $41.01, for a total value of $1,048,625.70. Following the completion of the transaction, the vice president now owns 50,221 shares in the company, valued at approximately $2,059,563.21. The disclosure for this sale can be found here. Insiders sold 501,440 shares of company stock worth $19,807,647 in the last 90 days. 1.40% of the stock is owned by company insiders.
Trimble Navigation Ltd. (NASDAQ:TRMB) opened at $41.42 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.44 and a quick ratio of 1.12. Trimble Navigation Ltd. has a 12-month low of $27.18 and a 12-month high of $43.97. The company has a market capitalization of $10,427.94, a price-to-earnings ratio of 33.14, a P/E/G ratio of 2.91 and a beta of 2.34.
Trimble Navigation (NASDAQ:TRMB) last issued its quarterly earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. Trimble Navigation had a return on equity of 12.97% and a net margin of 7.66%. The company had revenue of $670.00 million for the quarter, compared to analysts’ expectations of $660.11 million. During the same quarter last year, the business earned $0.33 earnings per share. Trimble Navigation’s revenue was up 14.7% on a year-over-year basis. analysts expect that Trimble Navigation Ltd. will post 1.27 EPS for the current fiscal year.
Trimble Navigation declared that its board has initiated a share buyback plan on Wednesday, November 15th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
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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