UPDATE: Janney Capital Downgrades Trimble Navigation Limited

In a note released Wednesday, Janney Capital analyst, Ryan Connors downgraded shares of Trimble Navigation

from Buy to Neutral and lowered the price target from $40 to $36. Shares are down over seven percent in today's trading following the Janney downgrade. Connors says the company's precision agriculture business has matured which slow growth while making it more volatile. Further more, he noted that the precision business is cyclical not secular and the company's field solutions unit has posted flat to declining revenues for four of the last five quarters.