Trimble Navigation Ltd. (TRMB) PT Set at $43.00 by Piper Jaffray Companies
Trimble Navigation Ltd. (NASDAQ:TRMB) received a $43.00 price objective from research analysts at Piper Jaffray Companies in a research note issued to investors on Sunday. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 9.55% from the company’s previous close.
Several other equities analysts have also issued reports on TRMB. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $39.00 price target (up from $38.00) on shares of Trimble Navigation in a research report on Tuesday, June 13th. Zacks Investment Research downgraded Trimble Navigation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 price objective (up previously from $37.00) on shares of Trimble Navigation in a research report on Thursday, August 3rd. Robert W. Baird increased their price objective on Trimble Navigation from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, September 22nd. Finally, Craig Hallum reissued a “hold” rating and set a $36.00 price objective (up previously from $30.00) on shares of Trimble Navigation in a research note on Thursday, August 3rd. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $41.11.
Trimble Navigation (TRMB) traded up 1.38% during mid-day trading on Friday, reaching $39.79. The company had a trading volume of 684,505 shares. The firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of 57.67 and a beta of 2.30. Trimble Navigation has a 12-month low of $25.30 and a 12-month high of $40.30. The firm has a 50-day moving average price of $38.19 and a 200 day moving average price of $35.51.
Trimble Navigation (NASDAQ:TRMB) last announced 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 Zacks’ consensus estimate of $0.35 by ($0.02). The company had revenue of $661.90 million for the quarter, compared to the consensus estimate of $643.05 million. Trimble Navigation had a net margin of 7.25% and a return on equity of 12.71%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $0.29 earnings per share. Analysts expect that Trimble Navigation will post $1.43 EPS for the current year.
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In related news, SVP Darryl R. Matthews sold 3,714 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $38.66, for a total value of $143,583.24. Following the completion of the sale, the senior vice president now owns 2,000 shares of the company’s stock, valued at $77,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Chris Gibson sold 76,715 shares of Trimble Navigation stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $38.02, for a total transaction of $2,916,704.30. Following the completion of the sale, the vice president now owns 38,419 shares in the company, valued at approximately $1,460,690.38. The disclosure for this sale can be found here. Insiders have sold 252,688 shares of company stock worth $9,616,521 over the last three months. Insiders own 1.40% of the company’s stock.
A number of institutional investors have recently modified their holdings of TRMB. Chicago Equity Partners LLC purchased a new stake in shares of Trimble Navigation in the 2nd quarter worth about $782,000. Great Lakes Advisors LLC bought a new stake in Trimble Navigation during the 2nd quarter valued at approximately $2,254,000. Principal Financial Group Inc. boosted its position in Trimble Navigation by 26.0% during 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 in the last quarter. Gotham Asset Management LLC bought a new stake in Trimble Navigation during the 1st quarter valued at approximately $714,000. Finally, JPMorgan Chase & Co. boosted its position in Trimble Navigation by 2.2% during the 1st quarter. JPMorgan Chase & Co. now owns 276,586 shares of the scientific and technical instruments company’s stock valued at $8,855,000 after acquiring an additional 5,886 shares in the last quarter. 89.85% of the stock is currently owned by institutional investors and hedge funds.
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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