Price Action Report: Could Trimble Navigation Limited See a Reversal After Breaking Its 52-Week High?

Price Action Report: Could Trimble Navigation Limited See a Reversal After Breaking Its 52 Week High?

The stock of Trimble Navigation Limited (NASDAQ:TRMB) hit a new 52-week high and has $48.45 target or 68.00% above today’s $28.84 share price. The 9 months bullish chart indicates low risk for the $7.10B company. The 1-year high was reported on Oct, 10 by Barchart.com. If the $48.45 price target is reached, the company will be worth $4.83B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 212,882 shares traded hands. Trimble Navigation Limited (NASDAQ:TRMB) has risen 13.25% since March 7, 2016 and is uptrending. It has outperformed by 5.65% the S&P500.

Analysts await Trimble Navigation Limited (NASDAQ:TRMB) to report earnings on November, 3. They expect $0.27 earnings per share, up 3.85% or $0.01 from last year’s $0.26 per share. TRMB’s profit will be $66.47 million for 26.70 P/E if the $0.27 EPS becomes a reality. After $0.26 actual earnings per share reported by Trimble Navigation Limited for the previous quarter, Wall Street now forecasts 3.85% EPS growth.

Trimble Navigation Limited (NASDAQ:TRMB) Ratings Coverage

Out of 10 analysts covering Trimble Navigation Limited (NASDAQ:TRMB), 5 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 50% are positive. Trimble Navigation Limited has been the topic of 15 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The stock of Trimble Navigation Limited (NASDAQ:TRMB) has “Outperform” rating given on Friday, June 24 by Wedbush. The rating was maintained by Robert W. Baird on Monday, October 5 with “Neutral”. As per Friday, April 29, the company rating was maintained by Wedbush. Raymond James initiated Trimble Navigation Limited (NASDAQ:TRMB) on Tuesday, June 14 with “Outperform” rating. The rating was initiated by Oppenheimer with “Outperform” on Thursday, December 10. Wedbush initiated the stock with “Outperform” rating in Wednesday, December 2 report. The rating was downgraded by M Partners to “Neutral” on Wednesday, August 5. The rating was maintained by Craig Hallum on Wednesday, August 5 with “Hold”. The firm has “Equal Weight” rating by Morgan Stanley given on Monday, September 21. The rating was upgraded by Goldman Sachs on Friday, November 20 to “Neutral”.

According to Zacks Investment Research, “Trimble applies technology to make field and mobile workers in businesses and government significantly more productive. Solutions are focused on applications requiring position or location-including surveying, construction, agriculture, fleet and asset management, public safety and mapping. In addition to utilizing positioning technologies, such as GPS, lasers and optics, Trimble solutions may include software content specific to the needs of the user. Wireless technologies are utilized to deliver the solution to the user and to ensure a tight coupling of the field and the back office.”

Insitutional Activity: The institutional sentiment decreased to 1.13 in 2016 Q2. Its down 0.02, from 1.15 in 2016Q1. The ratio dived, as 25 funds sold all Trimble Navigation Limited shares owned while 109 reduced positions. 34 funds bought stakes while 118 increased positions. They now own 219.42 million shares or 3.22% less from 226.72 million shares in 2016Q1.
The California-based Quantum Management has invested 0.06% in Trimble Navigation Limited (NASDAQ:TRMB). The Tennessee-based Weaver C Barksdale Incorporated has invested 0.02% in Trimble Navigation Limited (NASDAQ:TRMB). Hall Laurie J Trustee holds 830 shares or 0.01% of its portfolio. Moreover, Kbc Gp Nv has 0.02% invested in Trimble Navigation Limited (NASDAQ:TRMB) for 59,181 shares. Deutsche National Bank & Trust Ag has 0.01% invested in the company for 832,114 shares. Gulf National Bank (Uk) accumulated 78,522 shares or 0.03% of the stock. Moreover, Apg Asset Management Nv has 0.02% invested in Trimble Navigation Limited (NASDAQ:TRMB) for 371,584 shares. Comerica State Bank last reported 0.04% of its portfolio in the stock. Dixon Hubard Feinour & Brown Va holds 8,500 shares or 0.07% of its portfolio. Glenmede Com Na last reported 0.01% of its portfolio in the stock. Ig Investment Limited, a Manitoba – Canada-based fund reported 98,600 shares. Rockefeller Financial Services last reported 0.3% of its portfolio in the stock. Moreover, Agf Invests America has 0.84% invested in Trimble Navigation Limited (NASDAQ:TRMB) for 76,183 shares. Disciplined Growth Invsts Inc Mn holds 0.08% of its portfolio in Trimble Navigation Limited (NASDAQ:TRMB) for 126,785 shares. Profund Advsr Ltd Liability Corp has 42,659 shares for 0.05% of their US portfolio.

Insider Transactions: Since May 3, 2016, the stock had 0 buys, and 18 insider sales for $23.09 million net activity. Shares for $5.52M were sold by BERGLUND STEVEN W. 512 shares were sold by KIRKLAND JAMES A, worth $12,705. $320,025 worth of Trimble Navigation Limited (NASDAQ:TRMB) was sold by PAINTER ROBERT G on Thursday, August 4. 5,850 shares were sold by Nersesian Ronald S., worth $161,282. The insider PEEK MARK S sold $302,303. Shares for $3.62 million were sold by Gibson Chris on Monday, August 15. Another trade for 16,700 shares valued at $434,200 was sold by Kliem Jurgen.

TRMB Company Profile

Trimble Navigation Limited, incorporated on January 1, 1981, is a well-known provider of technology solutions for professionals and field mobile workers to transform work processes. The Firm operates through four divisions: Engineering and Construction, Field Solutions, Mobile Solutions and Advanced Devices. The Company’s 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. The Company’s solutions are used across a range of industries, including agriculture, architecture, civil engineering, survey and land administration, construction, geospatial, environmental management, government, natural resources, transportation and utilities. The Company’s global activities include development, manufacturing or logistics activities in the United States, Sweden, Finland, Germany, New Zealand, Canada, the United Kingdom, the Netherlands, China and India.

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