Capital Guardian Trust Co. decreased its stake in Trimble Navigation Ltd. (NASDAQ:TRMB) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,184,465 shares of the scientific and technical instruments company’s stock after selling 13,535 shares during the quarter. Capital Guardian Trust Co. owned approximately 0.47% of Trimble Navigation worth $46,490,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. increased its position in Trimble Navigation by 0.8% in 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 buying an additional 185,717 shares in the last quarter. Vanguard Group Inc. increased its position 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 worth $760,302,000 after buying an additional 849,914 shares in the last quarter. Bank of New York Mellon Corp increased its position 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 worth $323,537,000 after buying an additional 33,278 shares in the last quarter. State Street Corp increased its position 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 worth $292,228,000 after buying an additional 35,154 shares in the last quarter. Finally, Capital International Investors increased its position 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 worth $286,417,000 after buying an additional 639,190 shares in the last quarter. Institutional investors and hedge funds own 89.74% of the company’s stock.
In other news, VP James A. Kirkland sold 25,570 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $41.01, for a total value of $1,048,625.70. Following the completion of the transaction, the vice president now owns 50,221 shares of the company’s stock, valued at $2,059,563.21. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Steven W. Berglund sold 200,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 350,489 shares of the company’s stock, valued at approximately $14,177,280.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 320,278 shares of company stock valued at $12,969,243. Corporate insiders own 1.40% of the company’s stock.
TRMB has been the subject of a number of analyst reports. BidaskClub cut Trimble Navigation from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Oppenheimer restated a “buy” rating on shares of Trimble Navigation in a research report on Thursday, October 19th. Piper Jaffray Companies set a $43.00 price target on Trimble Navigation and gave the stock a “buy” rating in a research report on Sunday, October 1st. Zacks Investment Research upgraded Trimble Navigation from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Tuesday, October 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $45.00 price target (up previously from $42.00) on shares of Trimble Navigation in a research report on Sunday, October 29th. 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 an average rating of “Buy” and a consensus price target of $41.70.
Trimble Navigation Ltd. (TRMB) opened at $41.21 on Friday. The firm has a market capitalization of $10,430.00, a PE ratio of 32.70, a PEG ratio of 2.87 and a beta of 2.35. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.44 and a quick ratio of 1.12. Trimble Navigation Ltd. has a one year low of $28.61 and a one year high of $43.97.
Trimble Navigation (NASDAQ:TRMB) last released its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The firm had revenue of $670.00 million during 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.33 earnings per share. research analysts forecast that Trimble Navigation Ltd. will post 1.27 EPS for the current year.
Trimble Navigation declared that its Board of Directors has approved a share repurchase plan on Wednesday, November 15th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the scientific and technical instruments company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
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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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