Cigna Investments Inc. New Sells 580 Shares of Trimble Navigation Ltd. (TRMB)
Cigna Investments Inc. New reduced its stake in shares of Trimble Navigation Ltd. (NASDAQ:TRMB) by 3.9% during the second quarter, Holdings Channel reports. The fund owned 14,475 shares of the scientific and technical instruments company’s stock after selling 580 shares during the period. Cigna Investments Inc. New’s holdings in Trimble Navigation were worth $516,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of the stock. Acadian Asset Management LLC acquired a new stake in Trimble Navigation during the second quarter valued at approximately $134,000. Twin Tree Management LP acquired a new stake in Trimble Navigation during the first quarter valued at approximately $124,000. 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 during 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 during 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 during the last quarter. 89.72% of the stock is currently owned by institutional investors.
Shares of Trimble Navigation Ltd. (NASDAQ TRMB) opened at 36.93 on Wednesday. Trimble Navigation Ltd. has a 12-month low of $25.30 and a 12-month high of $39.45. The stock has a market capitalization of $9.35 billion, a price-to-earnings ratio of 53.52 and a beta of 2.31. The firm has a 50-day moving average of $37.09 and a 200 day moving average of $34.16.
Trimble Navigation (NASDAQ:TRMB) last issued its quarterly earnings data 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 business had revenue of $661.90 million for the quarter, compared to analysts’ expectations of $643.05 million. During the same period in the previous year, the business posted $0.29 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities analysts forecast that Trimble Navigation Ltd. will post $1.43 earnings per share for the current fiscal year.
Several research firms have commented on TRMB. Zacks Investment Research lowered shares of Trimble Navigation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 8th. Craig Hallum reaffirmed a “hold” rating and issued a $36.00 price target (up from $30.00) on shares of Trimble Navigation in a report on Wednesday, August 9th. BidaskClub lowered shares of Trimble Navigation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Dougherty & Co upped their price target on shares of Trimble Navigation from $40.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 price target (up from $37.00) on shares of Trimble Navigation in a report on Thursday, August 3rd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Trimble Navigation currently has a consensus rating of “Buy” and a consensus target price of $41.00.
In other Trimble Navigation news, VP James Veneziano sold 9,426 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $35.73, for a total transaction of $336,790.98. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mark S. Peek sold 11,717 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $36.35, for a total transaction of $425,912.95. Following the transaction, the director now directly owns 30,000 shares in the company, valued at $1,090,500. The disclosure for this sale can be found here. Insiders have sold a total of 110,061 shares of company stock worth $4,032,293 over the last three months. 1.40% of the stock is currently owned by insiders.
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.
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