Trimble Navigation Ltd. (TRMB) Shares Bought by Los Angeles Capital Management & Equity Research Inc.
Los Angeles Capital Management & Equity Research Inc. boosted its position in Trimble Navigation Ltd. (NASDAQ:TRMB) by 337.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,843 shares of the scientific and technical instruments company’s stock after buying an additional 95,522 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Trimble Navigation were worth $4,861,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Toronto Dominion Bank boosted its stake in Trimble Navigation by 13.0% during 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 boosted its stake in Trimble Navigation by 17.2% during 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. Acadian Asset Management LLC acquired a new position in Trimble Navigation during the 2nd quarter valued at about $134,000. Howe & Rusling Inc. acquired a new position in Trimble Navigation during the 3rd quarter valued at about $139,000. Finally, Advisor Group Inc. boosted its stake in Trimble Navigation by 3.7% during 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. 88.80% of the stock is owned by institutional investors and hedge funds.
Trimble Navigation Ltd. (NASDAQ:TRMB) opened at $41.79 on Tuesday. Trimble Navigation Ltd. has a 12 month low of $27.18 and a 12 month high of $43.97. The firm has a market capitalization of $10,600.00, a P/E ratio of 33.14, a PEG ratio of 2.91 and a beta of 2.33. 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 (NASDAQ:TRMB) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $660.11 million. Trimble Navigation had a return on equity of 12.97% and a net margin of 7.66%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 EPS. research analysts forecast that Trimble Navigation Ltd. will post 1.27 earnings per share for the current fiscal year.
Trimble Navigation announced that its Board of Directors has initiated a share repurchase plan on Wednesday, November 15th that allows the company to buyback $600.00 million in outstanding shares. This buyback authorization allows the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
In other Trimble Navigation news, CEO Steven W. Berglund sold 200,000 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $40.45, for a total transaction of $8,090,000.00. Following the sale, the chief executive officer now owns 350,489 shares of the company’s stock, valued at approximately $14,177,280.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James Veneziano sold 13,502 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $41.40, for a total transaction of $558,982.80. The disclosure for this sale can be found here. Insiders sold a total of 514,942 shares of company stock worth $20,366,629 in the last ninety days. 1.40% of the stock is currently owned by insiders.
TRMB has been the subject of a number of analyst reports. Dougherty & Co lifted their price target on Trimble Navigation from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. BidaskClub downgraded Trimble Navigation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Craig Hallum reiterated 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. Needham & Company LLC reiterated 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. Finally, Oppenheimer Holdings, Inc. reiterated 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. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Trimble Navigation presently has a consensus rating of “Buy” and an average price target of $41.70.
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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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