Capital Guardian Trust Co. reduced its stake in Trimble Navigation Ltd. (NASDAQ:TRMB) by 16.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,198,000 shares of the scientific and technical instruments company’s stock after selling 228,605 shares during the quarter. Capital Guardian Trust Co. owned 0.47% of Trimble Navigation worth $42,733,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Clinton Group Inc. acquired a new position in shares of Trimble Navigation in the 2nd quarter worth approximately $586,000. HighTower Advisors LLC lifted its holdings in shares of Trimble Navigation by 2.1% in the 2nd quarter. HighTower Advisors LLC now owns 19,071 shares of the scientific and technical instruments company’s stock worth $682,000 after acquiring an additional 397 shares during the last quarter. PDT Partners LLC acquired a new position in shares of Trimble Navigation in the 2nd quarter worth approximately $7,569,000. Balyasny Asset Management LLC lifted its holdings in shares of Trimble Navigation by 234.9% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,624,717 shares of the scientific and technical instruments company’s stock worth $57,954,000 after acquiring an additional 1,139,589 shares during the last quarter. Finally, Virtu KCG Holdings LLC lifted its holdings in shares of Trimble Navigation by 6.4% in the 2nd quarter. Virtu KCG Holdings LLC now owns 19,802 shares of the scientific and technical instruments company’s stock worth $706,000 after acquiring an additional 1,199 shares during the last quarter. Hedge funds and other institutional investors own 89.85% of the company’s stock.

Trimble Navigation Ltd. (NASDAQ:TRMB) traded down 0.43% during midday trading on Friday, reaching $39.25. 988,118 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $38.19 and its 200 day moving average is $35.51. The firm has a market capitalization of $9.94 billion, a P/E ratio of 56.88 and a beta of 2.28. Trimble Navigation Ltd. has a 52 week low of $25.30 and a 52 week high of $40.30.

Trimble Navigation (NASDAQ:TRMB) last announced its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The business had revenue of $661.90 million for the quarter, compared to analyst estimates of $643.05 million. Trimble Navigation had a net margin of 7.25% and a return on equity of 12.71%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $0.29 earnings per share. On average, analysts expect that Trimble Navigation Ltd. will post $1.43 EPS for the current fiscal year.

Several brokerages have recently commented on TRMB. Piper Jaffray Companies restated a “buy” rating and issued a $43.00 price objective on shares of Trimble Navigation in a report on Sunday. Craig Hallum reiterated a “hold” rating and set a $36.00 target price (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. Morgan Stanley increased their target price on shares of Trimble Navigation from $24.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, August 17th. Finally, Robert W. Baird increased their target price on shares of Trimble Navigation from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, September 22nd. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $41.11.

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 shares were sold at an average price of $37.41, for a total transaction of $268,716.03. Following the transaction, the vice president now directly owns 14,598 shares of the company’s stock, valued at $546,111.18. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP James A. Kirkland sold 10,000 shares of Trimble Navigation stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $37.60, for a total transaction of $376,000.00. Following the transaction, the vice president now directly owns 31,781 shares in the company, valued at $1,194,965.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 252,688 shares of company stock worth $9,616,521. 1.40% of the stock is currently owned by corporate insiders.

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Trimble Navigation 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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Institutional Ownership by Quarter for Trimble Navigation (NASDAQ:TRMB)

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