Fifth Third Bancorp Grows Position in Trimble Inc. (NASDAQ:TRMB)

Fifth Third Bancorp raised its stake in shares of Trimble Inc. (NASDAQ:TRMBFree Report) by 6.3% in the first quarter, Holdings Channel reports. The institutional investor owned 8,218 shares of the scientific and technical instruments company’s stock after buying an additional 490 shares during the quarter. Fifth Third Bancorp’s holdings in Trimble were worth $540,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TRMB. Crowley Wealth Management Inc. purchased a new position in Trimble during the fourth quarter valued at $28,000. Rialto Wealth Management LLC purchased a new position in shares of Trimble in the fourth quarter worth $35,000. SBI Securities Co. Ltd. purchased a new position in shares of Trimble in the fourth quarter worth $36,000. Central Pacific Bank Trust Division raised its stake in shares of Trimble by 174.9% in the first quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company’s stock worth $37,000 after purchasing an additional 355 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in shares of Trimble by 164.8% in the fourth quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company’s stock worth $48,000 after purchasing an additional 422 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Insider Activity

In other news, Director Kaigham Gabriel sold 6,511 shares of the business’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total value of $466,773.59. Following the transaction, the director now directly owns 17,939 shares in the company, valued at $1,286,046.91. The trade was a 26.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TRMB. Piper Sandler restated an “overweight” rating and issued a $84.00 price target on shares of Trimble in a research note on Thursday, May 8th. Wall Street Zen cut Trimble from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. Cfra upgraded Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target for the company in a research note on Thursday, February 20th. Oppenheimer boosted their price target on Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. boosted their price target on Trimble from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Trimble currently has an average rating of “Buy” and an average target price of $88.43.

Read Our Latest Stock Analysis on Trimble

Trimble Stock Performance

NASDAQ:TRMB opened at $71.76 on Wednesday. The stock has a 50-day simple moving average of $66.86 and a two-hundred day simple moving average of $69.64. Trimble Inc. has a 52-week low of $48.65 and a 52-week high of $77.78. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.84. The firm has a market capitalization of $17.12 billion, a PE ratio of 11.71, a P/E/G ratio of 3.11 and a beta of 1.68.

Trimble (NASDAQ:TRMBGet Free Report) last released its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. Trimble had a return on equity of 9.87% and a net margin of 42.40%. The business had revenue of $840.60 million during the quarter, compared to analyst estimates of $810.45 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. Trimble’s revenue for the quarter was down 11.8% on a year-over-year basis. Analysts forecast that Trimble Inc. will post 2.37 EPS for the current year.

About Trimble

(Free Report)

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.

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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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