Trimble Navigation Ltd. (NASDAQ:TRMB) CEO Steven W. Berglund sold 208,056 shares of the stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $27.51, for a total transaction of $5,723,620.56. Following the sale, the chief executive officer now owns 334,614 shares of the company’s stock, valued at $9,205,231.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Trimble Navigation Ltd. (NASDAQ:TRMB) opened at 28.76 on Monday. The company has a market cap of $7.21 billion, a P/E ratio of 61.19 and a beta of 2.23. Trimble Navigation Ltd. has a 12 month low of $18.36 and a 12 month high of $29.79. The company’s 50 day moving average is $27.97 and its 200 day moving average is $26.68.
Trimble Navigation (NASDAQ:TRMB) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. The company earned $584.10 million during the quarter, compared to analysts’ expectations of $600.09 million. Trimble Navigation had a net margin of 5.08% and a return on equity of 11.06%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 EPS. On average, equities research analysts predict that Trimble Navigation Ltd. will post $1.17 EPS for the current fiscal year.
Several analysts have commented on TRMB shares. Dougherty & Co restated a “buy” rating and issued a $32.00 price objective on shares of Trimble Navigation in a report on Monday, September 12th. Zacks Investment Research upgraded shares of Trimble Navigation from a “sell” rating to a “hold” rating in a report on Friday, November 4th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $32.00 price objective on shares of Trimble Navigation in a report on Tuesday, September 13th. TheStreet upgraded shares of Trimble Navigation from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. set a $29.00 price objective on shares of Trimble Navigation and gave the stock a “hold” rating in a report on Wednesday, August 3rd. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $27.90.
A number of large investors have recently added to or reduced their stakes in the stock. Huntington National Bank boosted its stake in Trimble Navigation by 10.0% in the third quarter. Huntington National Bank now owns 4,399 shares of the company’s stock valued at $125,000 after buying an additional 399 shares during the period. Strs Ohio boosted its stake in Trimble Navigation by 59.2% in the second quarter. Strs Ohio now owns 6,841 shares of the company’s stock valued at $166,000 after buying an additional 2,544 shares during the period. Daiwa Securities Group Inc. boosted its stake in Trimble Navigation by 18.5% in the third quarter. Daiwa Securities Group Inc. now owns 6,400 shares of the company’s stock valued at $183,000 after buying an additional 1,000 shares during the period. Eqis Capital Management Inc. bought a new stake in Trimble Navigation during the third quarter valued at about $201,000. Finally, Cantab Capital Partners LLP boosted its stake in Trimble Navigation by 309.1% in the second quarter. Cantab Capital Partners LLP now owns 8,342 shares of the company’s stock valued at $203,000 after buying an additional 6,303 shares during the period. 89.68% of the stock is owned by institutional investors.
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