Zacks Investment Research cut shares of Trimble Navigation Ltd. (NASDAQ:TRMB) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

According to Zacks, “Trimble has outperformed the industry on a year-to-date basis. The company’s aggressive acquisition strategy is helping it to rapidly expand product portfolio, improve competitive positions and enter new markets. Recent acquisitions have expanded Trimble’s Transportation, Agriculture Management and Forest solutions portfolio. Moreover, they have aided the company to expand in markets like Germany, Finland and Canada. We also note that the company’s initiatives toward lowering the cost structure is helping in improving profits.  The company expects operating margin expansion to continue, going forward. However, intensifying competition, weakness in European Geospatial market, slow down in Asia Pacific, uncertainty in the United States and Mexico are major headwinds. Recent acquisitions are also expected to be dilutive to the bottom-line, which does not augur well for investors.”

A number of other research firms also recently issued reports on TRMB. Dougherty & Co raised their price target on 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 target (up previously from $37.00) on shares of Trimble Navigation in a research note on Thursday, August 3rd. Oppenheimer Holdings, Inc. restated an outperform rating and set a $41.00 price target (up previously from $39.00) on shares of Trimble Navigation in a research note on Friday, August 4th. Craig Hallum restated a hold rating and set a $36.00 price target (up previously from $30.00) on shares of Trimble Navigation in a research note on Thursday, August 3rd. Finally, Berenberg Bank started coverage on Trimble Navigation in a research note on Wednesday, August 23rd. They set a hold rating and a $38.00 price target on the stock. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $41.70.

Shares of Trimble Navigation (NASDAQ TRMB) traded up $0.31 during midday trading on Wednesday, hitting $40.10. The stock had a trading volume of 1,522,544 shares, compared to its average volume of 1,042,960. The company has a quick ratio of 1.12, a current ratio of 1.44 and a debt-to-equity ratio of 0.22. Trimble Navigation has a 1-year low of $25.30 and a 1-year high of $43.97. The firm has a market cap of $10,151.31, a price-to-earnings ratio of 32.08, a PEG ratio of 2.82 and a beta of 2.34.

Trimble Navigation (NASDAQ:TRMB) last issued its earnings results on Thursday, October 26th. The scientific and technical instruments company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. The business had revenue of $670.00 million for the quarter, compared to analyst estimates of $660.11 million. Trimble Navigation had a return on equity of 12.97% and a net margin of 7.66%. The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the company earned $0.33 EPS. sell-side analysts forecast that Trimble Navigation will post 1.27 earnings per share for the current year.

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In other Trimble Navigation news, VP James A. Kirkland sold 7,183 shares of Trimble Navigation stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $37.41, for a total value of $268,716.03. Following the transaction, the vice president now directly owns 14,598 shares in the company, valued at approximately $546,111.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Darryl R. Matthews sold 3,714 shares of Trimble Navigation stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $38.66, for a total value of $143,583.24. Following the completion of the transaction, the senior vice president now owns 2,000 shares in the company, valued at $77,320. The disclosure for this sale can be found here. Insiders sold a total of 497,688 shares of company stock worth $19,537,671 over the last quarter. Company insiders own 1.40% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank grew its stake in shares of Trimble Navigation by 13.0% in 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 grew its stake in shares of Trimble Navigation by 17.2% in 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. Howe & Rusling Inc. purchased a new position in shares of Trimble Navigation in the 3rd quarter valued at approximately $139,000. Acadian Asset Management LLC purchased a new position in shares of Trimble Navigation in the 2nd quarter valued at approximately $134,000. Finally, Advisor Group Inc. grew its stake in shares of Trimble Navigation by 3.7% in 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. Institutional investors own 89.99% of the company’s stock.

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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Analyst Recommendations for Trimble Navigation (NASDAQ:TRMB)

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