Published On: Tue, Sep 13th, 2016

Oppenheimer Holdings Inc. Reaffirms “Outperform” Rating for Trimble Navigation Ltd. (TRMB)

Trimble Navigation Ltd. (NASDAQ:TRMB)‘s stock had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc. in a report issued on Tuesday. They presently have a $32.00 target price on the stock. Oppenheimer Holdings Inc.’s price target indicates a potential upside of 20.26% from the stock’s previous close.
A number of other research firms have also weighed in on TRMB. Wedbush raised their price objective on shares of Trimble Navigation from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Friday, June 24th. TheStreet raised shares of Trimble Navigation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. JPMorgan Chase & Co. set a $29.00 price objective on shares of Trimble Navigation and gave the company a “hold” rating in a research note on Wednesday, August 3rd. Dougherty & Co reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Trimble Navigation in a research note on Monday. Finally, Raymond James Financial Inc. began coverage on shares of Trimble Navigation in a research note on Monday, June 13th. They issued an “outperform” rating and a $30.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $27.23.
Shares of Trimble Navigation (NASDAQ:TRMB) traded down 1.16% during mid-day trading on Tuesday, hitting $26.30. 253,762 shares of the company traded hands. Trimble Navigation has a one year low of $15.90 and a one year high of $28.09. The firm has a 50-day moving average of $27.23 and a 200-day moving average of $25.52. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 57.17 and a beta of 2.12.

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Trimble Navigation (NASDAQ:TRMB) last issued its earnings results on Tuesday, August 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The company had revenue of $609.60 million for the quarter, compared to the consensus estimate of $611.79 million. Trimble Navigation had a return on equity of 11.00% and a net margin of 5.04%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 earnings per share. On average, equities analysts predict that Trimble Navigation will post $1.18 earnings per share for the current year.
In other news, SVP Darryl R. Matthews sold 5,714 shares of Trimble Navigation stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $27.39, for a total value of $156,506.46. Following the completion of the transaction, the senior vice president now owns 8,401 shares in the company, valued at $230,103.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Chris Gibson sold 130,000 shares of Trimble Navigation stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $27.86, for a total transaction of $3,621,800.00. Following the completion of the transaction, the vice president now owns 109,941 shares of the company’s stock, valued at approximately $3,062,956.26. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Thomas Story & Son LLC increased its position in Trimble Navigation by 1.0% in the second quarter. Thomas Story & Son LLC now owns 28,460 shares of the company’s stock valued at $693,000 after buying an additional 275 shares during the last quarter. CIBC Asset Management Inc increased its position in Trimble Navigation by 2.2% in the second quarter. CIBC Asset Management Inc now owns 13,238 shares of the company’s stock valued at $322,000 after buying an additional 285 shares during the last quarter. State Treasurer State of Michigan increased its position in Trimble Navigation by 0.7% in the second quarter. State Treasurer State of Michigan now owns 100,800 shares of the company’s stock valued at $2,455,000 after buying an additional 700 shares during the last quarter. Capstone Asset Management Co. increased its position in Trimble Navigation by 3.9% in the second quarter. Capstone Asset Management Co. now owns 20,626 shares of the company’s stock valued at $502,000 after buying an additional 770 shares during the last quarter. Finally, Eagle Ridge Investment Management increased its position in Trimble Navigation by 0.3% in the second quarter. Eagle Ridge Investment Management now owns 237,675 shares of the company’s stock valued at $5,790,000 after buying an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 89.87% of the company’s stock.
Trimble Navigation Company Profile
Trimble Navigation Limited is a provider of technology solutions for professionals and field mobile workers to transform work processes. The Company operates through four segments: Engineering and Construction, Field Solutions, Mobile Solutions and Advanced Devices. Its products include equipment that automates large industrial equipment, such as tractors and bulldozers; integrated systems that track fleets of vehicles and workers and provide information and analytics to the back-office; data collection systems that enable the management of geo-referenced information; software solutions that connect all aspects of a construction site or a farm, and building information modeling (BIM) software that is used throughout the design, build and operation of buildings.

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