RiverPark Advisors LLC trimmed its stake in shares of Trimble Navigation Ltd. (NASDAQ:TRMB) by 11.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,048 shares of the scientific and technical instruments company’s stock after selling 8,342 shares during the quarter. RiverPark Advisors LLC’s holdings in Trimble Navigation were worth $2,435,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. 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 acquiring an additional 357 shares during the last quarter. Commonwealth Bank of Australia lifted its position in shares of Trimble Navigation by 17.2% in the 2nd 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 last quarter. Acadian Asset Management LLC bought a new position in shares of Trimble Navigation in the 2nd quarter worth about $134,000. Howe & Rusling Inc. bought a new position in shares of Trimble Navigation in the 3rd quarter worth about $139,000. Finally, Advisor Group Inc. lifted its position in shares of Trimble Navigation by 3.7% in the 2nd quarter. Advisor Group Inc. now owns 4,016 shares of the scientific and technical instruments company’s stock worth $142,000 after buying an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 89.74% of the company’s stock.
A number of research analysts have recently issued reports on TRMB shares. Wells Fargo & Company raised their price target on shares of Trimble Navigation from $34.00 to $37.00 and gave the stock a “market perform” rating in a research report on Friday, October 27th. Piper Jaffray Companies set a $43.00 price target on shares of Trimble Navigation and gave the stock a “buy” rating in a research report on Friday, August 25th. Needham & Company LLC restated a “buy” rating and issued a $45.00 price target (up from $42.00) on shares of Trimble Navigation in a research report on Sunday, October 29th. Oppenheimer restated a “buy” rating on shares of Trimble Navigation in a research report on Thursday, October 19th. Finally, Zacks Investment Research upgraded shares of Trimble Navigation from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Tuesday, October 31st. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Trimble Navigation currently has a consensus rating of “Buy” and a consensus target price of $41.70.
Shares of Trimble Navigation Ltd. (NASDAQ:TRMB) opened at $40.73 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.44 and a quick ratio of 1.12. Trimble Navigation Ltd. has a twelve month low of $28.61 and a twelve month high of $43.97. The firm has a market cap of $10,440.00, a PE ratio of 33.29, a P/E/G ratio of 2.92 and a beta of 2.35.
Trimble Navigation (NASDAQ:TRMB) last released its quarterly earnings data on Thursday, October 26th. The scientific and technical instruments company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. Trimble Navigation had a net margin of 7.66% and a return on equity of 12.97%. The business had revenue of $670.00 million for the quarter, compared to analysts’ expectations of $660.11 million. During the same quarter last year, the company earned $0.33 EPS. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. analysts expect that Trimble Navigation Ltd. will post 1.27 earnings per share for the current year.
Trimble Navigation declared that its board has approved a stock buyback plan on Wednesday, November 15th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
In other Trimble Navigation news, Director Ronald S. Nersesian sold 55,000 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $40.13, for a total transaction of $2,207,150.00. Following the transaction, the director now owns 46,820 shares of the company’s stock, valued at approximately $1,878,886.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Steven W. Berglund sold 200,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 350,489 shares in the company, valued at approximately $14,177,280.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 320,278 shares of company stock worth $12,969,243. Corporate insiders own 1.40% of the company’s stock.
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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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