Prudential Financial Inc. Has $10.19 Million Position in Trimble Navigation Ltd. (TRMB)

Prudential Financial Inc. increased its position in Trimble Navigation Ltd. (NASDAQ:TRMB) by 82.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 285,718 shares of the scientific and technical instruments company’s stock after buying an additional 129,520 shares during the quarter. Prudential Financial Inc. owned 0.11% of Trimble Navigation worth $10,192,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRMB. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Trimble Navigation by 17.5% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 19,636 shares of the scientific and technical instruments company’s stock worth $628,000 after buying an additional 2,919 shares during the period. Commerzbank Aktiengesellschaft FI increased its stake in shares of Trimble Navigation by 19.6% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 11,663 shares of the scientific and technical instruments company’s stock worth $373,000 after buying an additional 1,910 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Trimble Navigation by 12.5% in the first quarter. Daiwa Securities Group Inc. now owns 7,200 shares of the scientific and technical instruments company’s stock worth $230,000 after buying an additional 800 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Trimble Navigation by 4.9% in the first quarter. BNP Paribas Arbitrage SA now owns 79,091 shares of the scientific and technical instruments company’s stock worth $2,532,000 after buying an additional 3,687 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Trimble Navigation by 2.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,398 shares of the scientific and technical instruments company’s stock worth $1,965,000 after buying an additional 1,274 shares during the period. 90.06% of the stock is currently owned by institutional investors.

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In other Trimble Navigation news, SVP Darryl R. Matthews sold 3,714 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $38.66, for a total value of $143,583.24. Following the sale, the senior vice president now owns 2,000 shares in the company, valued at $77,320. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP James A. Kirkland sold 10,000 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $37.60, for a total value of $376,000.00. Following the completion of the sale, the vice president now owns 31,781 shares in the company, valued at approximately $1,194,965.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 252,688 shares of company stock worth $9,616,521. Insiders own 1.40% of the company’s stock.

Several research analysts recently commented on TRMB shares. Dougherty & Co lifted their target price on shares of Trimble Navigation from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 price target (up previously from $37.00) on shares of Trimble Navigation in a report on Thursday, August 3rd. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $41.00 price target (up previously from $39.00) on shares of Trimble Navigation in a report on Friday, August 4th. Zacks Investment Research cut shares of Trimble Navigation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Craig Hallum reiterated a “hold” rating and issued a $36.00 price target (up previously from $30.00) on shares of Trimble Navigation in a report on Thursday, August 3rd. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $40.75.

Shares of Trimble Navigation Ltd. (NASDAQ TRMB) opened at 39.88 on Wednesday. The company has a 50-day moving average of $37.87 and a 200 day moving average of $35.15. Trimble Navigation Ltd. has a 12-month low of $25.30 and a 12-month high of $39.99. The company has a market cap of $10.10 billion, a PE ratio of 57.80 and a beta of 2.28.

Trimble Navigation (NASDAQ:TRMB) last released its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.33 earnings per share 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 business had revenue of $661.90 million during the quarter, compared to analysts’ expectations of $643.05 million. During the same quarter in the previous year, the business earned $0.29 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts expect that Trimble Navigation Ltd. will post $1.43 EPS 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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Institutional Ownership by Quarter for Trimble Navigation (NASDAQ:TRMB)

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