Twin Tree Management LP lifted its position in shares of Trimble Navigation Ltd. (NASDAQ:TRMB) by 74.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,751 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,891 shares during the period. Twin Tree Management LP’s holdings in Trimble Navigation were worth $241,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of TRMB. Commonwealth Bank of Australia increased its position in Trimble Navigation by 17.2% in the second quarter. Commonwealth Bank of Australia now owns 3,400 shares of the scientific and technical instruments company’s stock worth $121,000 after buying an additional 500 shares during the period. Acadian Asset Management LLC bought a new position in Trimble Navigation during the second quarter valued at about $134,000. IFP Advisors Inc boosted its stake in Trimble Navigation by 34.8% during the first quarter. IFP Advisors Inc now owns 4,760 shares of the scientific and technical instruments company’s stock valued at $152,000 after buying an additional 1,228 shares in the last quarter. FNY Partners Fund LP boosted its stake in Trimble Navigation by 71.4% during the first quarter. FNY Partners Fund LP now owns 4,800 shares of the scientific and technical instruments company’s stock valued at $153,000 after buying an additional 2,000 shares in the last quarter. Finally, First Quadrant L P CA bought a new position in Trimble Navigation during the first quarter valued at about $155,000. 90.06% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on TRMB. Piper Jaffray Companies set a $43.00 target price on Trimble Navigation and gave the company a “buy” rating in a research note on Friday, August 25th. Berenberg Bank began coverage on Trimble Navigation in a research note on Wednesday, August 23rd. They set a “hold” rating and a $38.00 target price for the company. BidaskClub raised Trimble Navigation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Morgan Stanley raised their target price on Trimble Navigation from $24.00 to $38.00 and gave the company an “equal weight” rating in a research note on Thursday, August 17th. Finally, Craig Hallum reaffirmed a “hold” rating and set a $36.00 target price (up previously from $30.00) on shares of Trimble Navigation in a research note on Wednesday, August 9th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $40.75.
In other Trimble Navigation news, SVP Darryl R. Matthews sold 3,714 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 2,000 shares of the company’s stock, valued at $77,320. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Jurgen Kliem sold 44,662 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $38.49, for a total value of $1,719,040.38. Following the completion of the transaction, the vice president now directly owns 23,909 shares of the company’s stock, valued at $920,257.41. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 252,688 shares of company stock valued at $9,616,521. 1.40% of the stock is owned by insiders.
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Trimble Navigation Ltd. (NASDAQ:TRMB) traded down 0.28% during trading on Friday, hitting $39.68. The company had a trading volume of 397,142 shares. The company has a market capitalization of $10.04 billion, a price-to-earnings ratio of 57.51 and a beta of 2.28. Trimble Navigation Ltd. has a 12-month low of $25.30 and a 12-month high of $40.06. The firm has a 50-day moving average of $37.99 and a 200 day moving average of $35.27.
Trimble Navigation (NASDAQ:TRMB) last announced 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). Trimble Navigation had a return on equity of 12.71% and a net margin of 7.25%. The company had revenue of $661.90 million for the quarter, compared to analyst estimates of $643.05 million. During the same period last year, the firm earned $0.29 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts forecast that Trimble Navigation Ltd. will post $1.43 earnings per share for the current year.
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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