Trimble Navigation Ltd. (NASDAQ:TRMB) Downgraded by Zacks Investment Research
Zacks Investment Research downgraded shares of Trimble Navigation Ltd. (NASDAQ:TRMB) from a strong-buy rating to a hold rating in a report released on Tuesday morning.
According to Zacks, “Trimble is an OEM of GPS-based products and control systems. The company reported strong second-quarter 2017 results with both the top and the bottom line surpassing the Zacks Consensus Estimate.The company’s initiatives toward lowering the cost structure to another framework and making strategic acquisitions, along with the increased adoption of technology in the agricultural market, product enhancements and international expansion should also see it through the current market environment. Nonetheless, exchange rates and deferred revenue accounting effects. Over the past one year, the stock has outperformed the Zacks characterized Electronic Products Miscellaneous industry.”
Other analysts also recently issued reports about the company. Dougherty & Co upped their price objective on Trimble Navigation from $40.00 to $45.00 and gave the stock a buy rating in a report on Wednesday, July 26th. Piper Jaffray Companies restated a buy rating and set a $39.00 price objective on shares of Trimble Navigation in a report on Wednesday, July 12th. Needham & Company LLC upped their price objective on Trimble Navigation from $33.00 to $37.00 and gave the stock a buy rating in a report on Friday, April 28th. Craig Hallum restated a hold rating and set a $36.00 price objective (up from $30.00) on shares of Trimble Navigation in a report on Thursday, August 3rd. Finally, BidaskClub downgraded Trimble Navigation from a buy rating to a hold rating in a report on Tuesday, August 1st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $41.00.
Shares of Trimble Navigation (NASDAQ TRMB) traded up 0.83% during midday trading on Tuesday, hitting $36.48. The stock had a trading volume of 1,444,007 shares. The stock has a market cap of $9.23 billion, a P/E ratio of 52.87 and a beta of 2.31. Trimble Navigation has a 12-month low of $25.30 and a 12-month high of $39.45. The stock has a 50-day moving average price of $37.06 and a 200-day moving average price of $34.00.
Trimble Navigation (NASDAQ:TRMB) last released its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $661.90 million for the quarter, compared to analyst estimates of $643.05 million. Trimble Navigation had a return on equity of 12.71% and a net margin of 7.25%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 earnings per share. Equities analysts forecast that Trimble Navigation will post $1.43 earnings per share for the current year.
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In related news, VP James Veneziano sold 9,426 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $35.73, for a total value of $336,790.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP James A. Kirkland sold 10,000 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $37.60, for a total value of $376,000.00. Following the completion of the sale, the vice president now owns 31,781 shares of the company’s stock, valued at $1,194,965.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,061 shares of company stock valued at $4,032,293. 1.40% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Creative Planning increased its stake in shares of Trimble Navigation by 0.3% in the first quarter. Creative Planning now owns 17,341 shares of the scientific and technical instruments company’s stock valued at $555,000 after buying an additional 51 shares in the last quarter. Huntington National Bank increased its stake in shares of Trimble Navigation by 1.8% in the first quarter. Huntington National Bank now owns 4,552 shares of the scientific and technical instruments company’s stock valued at $146,000 after buying an additional 82 shares in the last quarter. Advisor Group Inc. increased its stake in shares of Trimble Navigation by 3.7% in the second quarter. Advisor Group Inc. now owns 4,016 shares of the scientific and technical instruments company’s stock valued at $142,000 after buying an additional 144 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Trimble Navigation by 2.4% in the second quarter. Nordea Investment Management AB now owns 9,588 shares of the scientific and technical instruments company’s stock valued at $342,000 after buying an additional 226 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its stake in shares of Trimble Navigation by 0.7% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 43,477 shares of the scientific and technical instruments company’s stock valued at $1,392,000 after buying an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 90.40% 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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