Steven W. Berglund Sells 200,000 Shares of Trimble Navigation Ltd. (TRMB) Stock
Trimble Navigation Ltd. (NASDAQ:TRMB) CEO Steven W. Berglund sold 200,000 shares of Trimble Navigation stock in a transaction on Monday, October 30th. The stock was sold at an average price of $40.45, for a total value of $8,090,000.00. Following the completion of the sale, the chief executive officer now directly owns 350,489 shares of the company’s stock, valued at approximately $14,177,280.05. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Trimble Navigation (NASDAQ:TRMB) last released its earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $670.00 million for the quarter, compared to the consensus estimate of $660.11 million. During the same period in the prior year, the firm earned $0.33 EPS. The firm’s revenue was up 14.7% on a year-over-year basis.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chicago Equity Partners LLC acquired a new position in shares of Trimble Navigation in the 2nd quarter valued at $782,000. Great Lakes Advisors LLC acquired a new position in shares of Trimble Navigation in the 2nd quarter valued at $2,254,000. Principal Financial Group Inc. increased its position in shares of Trimble Navigation by 26.0% in the 2nd quarter. Principal Financial Group Inc. now owns 1,307,351 shares of the scientific and technical instruments company’s stock valued at $46,633,000 after acquiring an additional 269,710 shares during the period. Gotham Asset Management LLC acquired a new position in shares of Trimble Navigation in the 1st quarter valued at $714,000. Finally, Advisors Asset Management Inc. increased its position in shares of Trimble Navigation by 9.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 24,944 shares of the scientific and technical instruments company’s stock valued at $890,000 after acquiring an additional 2,136 shares during the period. 89.99% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have commented on TRMB shares. 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 issued a $42.00 target price (up previously from $37.00) on shares of Trimble Navigation in a report on Thursday, August 3rd. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $41.00 target price (up previously from $39.00) on shares of Trimble Navigation in a report on Friday, August 4th. Zacks Investment Research lowered Trimble Navigation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Craig Hallum reissued a “hold” rating and issued a $36.00 target price (up previously from $30.00) on shares of Trimble Navigation in a report on Thursday, August 3rd. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently 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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