Trimble Navigation Ltd. (TRMB) Shares Bought by Citigroup Inc.

Citigroup Inc. lifted its holdings in Trimble Navigation Ltd. (NASDAQ:TRMB) by 10.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,842 shares of the scientific and technical instruments company’s stock after buying an additional 1,562 shares during the period. Citigroup Inc.’s holdings in Trimble Navigation were worth $565,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TRMB. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Trimble Navigation in the 1st quarter worth approximately $305,000. JPMorgan Chase & Co. boosted its stake in shares of Trimble Navigation by 2.2% in the 1st quarter. JPMorgan Chase & Co. now owns 276,586 shares of the scientific and technical instruments company’s stock worth $8,855,000 after buying an additional 5,886 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Trimble Navigation by 7.4% in the 1st quarter. Prudential Financial Inc. now owns 156,198 shares of the scientific and technical instruments company’s stock worth $5,000,000 after buying an additional 10,760 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Trimble Navigation in the 1st quarter worth approximately $254,000. Finally, OppenheimerFunds Inc. boosted its stake in shares of Trimble Navigation by 1,607.9% in the 1st quarter. OppenheimerFunds Inc. now owns 269,699 shares of the scientific and technical instruments company’s stock worth $8,634,000 after buying an additional 253,908 shares during the last quarter. Hedge funds and other institutional investors own 89.85% of the company’s stock.

A number of brokerages have recently weighed in on TRMB. Piper Jaffray Companies set a $43.00 target price on Trimble Navigation and gave the stock a “buy” rating in a research note on Friday, August 25th. Zacks Investment Research upgraded Trimble Navigation from a “hold” rating to a “strong-buy” rating and set a $43.00 target price on the stock in a research note on Monday, August 7th. Morgan Stanley boosted their target price on Trimble Navigation from $24.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 17th. BidaskClub downgraded Trimble Navigation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Robert W. Baird boosted their target price on Trimble Navigation from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, September 22nd. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Trimble Navigation has a consensus rating of “Buy” and an average target price of $41.11.

In related news, VP James A. Kirkland sold 10,000 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now owns 31,781 shares in the company, valued at $1,194,965.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Merit E. Janow sold 33,334 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $37.76, for a total transaction of $1,258,691.84. Following the completion of the sale, the director now owns 26,004 shares in the company, valued at approximately $981,911.04. The disclosure for this sale can be found here. Insiders sold 252,688 shares of company stock worth $9,616,521 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

Trimble Navigation Ltd. (NASDAQ TRMB) opened at 40.68 on Friday. The company has a 50-day moving average price of $39.48 and a 200 day moving average price of $36.48. The stock has a market cap of $10.30 billion, a P/E ratio of 58.96 and a beta of 2.30. Trimble Navigation Ltd. has a 1-year low of $25.30 and a 1-year high of $40.87.

Trimble Navigation (NASDAQ:TRMB) last issued its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $643.05 million. During the same quarter in the prior year, the business posted $0.29 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities analysts expect that Trimble Navigation Ltd. will post $1.43 earnings per share for the current fiscal year.

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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.

Institutional Ownership by Quarter for Trimble Navigation (NASDAQ:TRMB)

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