Russell Investments Group Ltd. Acquires 111,830 Shares of Trimble Navigation Ltd. (TRMB)
Russell Investments Group Ltd. increased its holdings in shares of Trimble Navigation Ltd. (NASDAQ:TRMB) by 8.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,490,833 shares of the scientific and technical instruments company’s stock after purchasing an additional 111,830 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.59% of Trimble Navigation worth $58,516,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. boosted its holdings 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 last quarter. Vanguard Group Inc. lifted its stake in Trimble Navigation by 4.2% in the second quarter. Vanguard Group Inc. now owns 21,314,854 shares of the scientific and technical instruments company’s stock valued at $760,302,000 after acquiring an additional 849,914 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Trimble Navigation by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 8,243,002 shares of the scientific and technical instruments company’s stock valued at $323,537,000 after acquiring an additional 33,278 shares during the last quarter. State Street Corp lifted its stake in Trimble Navigation by 0.4% in the second quarter. State Street Corp now owns 8,192,632 shares of the scientific and technical instruments company’s stock valued at $292,228,000 after acquiring an additional 35,154 shares during the last quarter. Finally, Capital International Investors lifted its stake in Trimble Navigation by 8.6% in the second quarter. Capital International Investors now owns 8,029,625 shares of the scientific and technical instruments company’s stock valued at $286,417,000 after acquiring an additional 639,190 shares during the last quarter. Institutional investors and hedge funds own 90.85% of the company’s stock.
Trimble Navigation Ltd. (NASDAQ TRMB) traded down $0.11 during mid-day trading on Friday, reaching $41.42. 983,029 shares of the company’s stock traded hands, compared to its average volume of 995,533. The company has a current ratio of 1.44, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. Trimble Navigation Ltd. has a 52-week low of $27.18 and a 52-week high of $43.97. The company has a market cap of $10,500.00, a price-to-earnings ratio of 33.04, a P/E/G ratio of 2.90 and a beta of 2.33.
Trimble Navigation (NASDAQ:TRMB) last released its earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. Trimble Navigation had a net margin of 7.66% and a return on equity of 12.97%. The firm had revenue of $670.00 million for the quarter, compared to analyst estimates of $660.11 million. During the same period last year, the firm earned $0.33 EPS. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. equities research analysts forecast that Trimble Navigation Ltd. will post 1.27 EPS for the current fiscal year.
Trimble Navigation announced that its board has approved a stock repurchase program on Wednesday, November 15th that allows the company to buyback $600.00 million in outstanding shares. This buyback authorization allows the scientific and technical instruments company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
In other news, VP Chris Gibson sold 23,430 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now directly owns 38,419 shares in the company, valued at approximately $1,460,306.19. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP James A. Kirkland sold 25,570 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $41.01, for a total transaction of $1,048,625.70. Following the completion of the sale, the vice president now owns 50,221 shares in the company, valued at $2,059,563.21. The disclosure for this sale can be found here. Over the last three months, insiders sold 501,440 shares of company stock worth $19,807,647. Insiders own 1.40% of the company’s stock.
A number of brokerages have commented on TRMB. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target (up previously from $42.00) on shares of Trimble Navigation in a research note on Sunday, October 29th. Wells Fargo & Company increased their price target on shares of Trimble Navigation from $34.00 to $37.00 and gave the company a “market perform” rating in a research note on Friday, October 27th. Oppenheimer Holdings, Inc. raised their target price on shares of Trimble Navigation from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. Zacks Investment Research cut shares of Trimble Navigation from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Finally, Robert W. Baird raised their target price on shares of Trimble Navigation from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, September 22nd. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $41.70.
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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