Trimble Navigation Ltd. (NASDAQ:TRMB) Short Interest Down 24.0% in August

Trimble Navigation Ltd. (NASDAQ:TRMB) was the target of a significant decrease in short interest in the month of August. As of August 15th, there was short interest totalling 2,062,575 shares, a decrease of 24.0% from the July 31st total of 2,712,210 shares. Based on an average trading volume of 1,165,686 shares, the days-to-cover ratio is currently 1.8 days. Currently, 0.8% of the company’s stock are sold short.

Several research firms recently issued reports on TRMB. Dougherty & Co increased their price target on shares of Trimble Navigation from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. BidaskClub raised shares of Trimble Navigation from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Berenberg Bank began coverage on shares of Trimble Navigation in a report on Wednesday, August 23rd. They set a “hold” rating and a $38.00 price target for the company. Piper Jaffray Companies set a $43.00 price target on shares of Trimble Navigation and gave the stock a “buy” rating in a report on Friday, August 25th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $41.00 price target (up from $39.00) on shares of Trimble Navigation in a report on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $40.75.

Shares of Trimble Navigation (TRMB) traded down 0.33% during mid-day trading on Friday, reaching $39.66. 1,267,569 shares of the company were exchanged. The firm has a market capitalization of $10.04 billion, a PE ratio of 57.48 and a beta of 2.28. Trimble Navigation has a 12 month low of $25.30 and a 12 month high of $40.06. The company’s 50 day moving average price is $38.04 and its 200 day moving average price is $35.33.

Trimble Navigation (NASDAQ:TRMB) last released its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). Trimble Navigation had a net margin of 7.25% and a return on equity of 12.71%. The firm had revenue of $661.90 million during the quarter, compared to the consensus estimate of $643.05 million. During the same period in the prior year, the business posted $0.29 earnings per share. Trimble Navigation’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities analysts anticipate that Trimble Navigation will post $1.43 earnings per share for the current year.

In other news, SVP Darryl R. Matthews sold 3,714 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $38.66, for a total transaction of $143,583.24. Following the completion of the sale, the senior vice president now owns 2,000 shares in the company, valued at $77,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP James A. Kirkland sold 7,183 shares of the stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $37.41, for a total transaction of $268,716.03. Following the sale, the vice president now owns 14,598 shares of the company’s stock, valued at approximately $546,111.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 252,688 shares of company stock valued at $9,616,521. Insiders own 1.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in TRMB. BlackRock Inc. grew its stake in shares of Trimble Navigation by 6,646.3% in the first quarter. BlackRock Inc. now owns 22,577,637 shares of the scientific and technical instruments company’s stock valued at $722,710,000 after buying an additional 22,242,969 shares in the last quarter. Balyasny Asset Management LLC grew its stake in shares of Trimble Navigation by 234.9% in the second quarter. Balyasny Asset Management LLC now owns 1,624,717 shares of the scientific and technical instruments company’s stock valued at $57,954,000 after buying an additional 1,139,589 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Trimble Navigation by 4.5% in the first quarter. Vanguard Group Inc. now owns 20,464,940 shares of the scientific and technical instruments company’s stock valued at $655,082,000 after buying an additional 879,694 shares in the last quarter. Pictet Asset Management Ltd. grew its stake in shares of Trimble Navigation by 34.9% in the first quarter. Pictet Asset Management Ltd. now owns 3,191,804 shares of the scientific and technical instruments company’s stock valued at $102,169,000 after buying an additional 826,494 shares in the last quarter. Finally, Capital International Investors grew its stake in shares of 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 valued at $286,417,000 after buying an additional 639,190 shares in the last quarter. 90.06% of the stock is owned by institutional investors and hedge funds.

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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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