Fifth Third Bancorp Boosts Stake in Trimble Inc. (NASDAQ:TRMB)

Fifth Third Bancorp boosted its stake in shares of Trimble Inc. (NASDAQ:TRMB – Get Rating) by 42.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,505 shares of the scientific and technical instruments company’s stock after buying an additional 2,517 shares during the period. Fifth Third Bancorp’s holdings in Trimble were worth $462,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. American Century Companies Inc. increased its position in shares of Trimble by 12.9% during the first quarter. American Century Companies Inc. now owns 6,672 shares of the scientific and technical instruments company’s stock worth $481,000 after purchasing an additional 760 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of Trimble during the first quarter worth $271,000. Dimensional Fund Advisors LP increased its position in shares of Trimble by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,140,027 shares of the scientific and technical instruments company’s stock worth $82,251,000 after purchasing an additional 6,402 shares in the last quarter. Prudential PLC acquired a new position in shares of Trimble during the first quarter worth $371,000. Finally, National Pension Service increased its position in shares of Trimble by 5.1% during the first quarter. National Pension Service now owns 440,758 shares of the scientific and technical instruments company’s stock worth $31,796,000 after purchasing an additional 21,426 shares in the last quarter. Hedge funds and other institutional investors own 89.49% of the company’s stock.

Trimble Price Performance

Shares of TRMB opened at $52.50 on Wednesday. The business’s 50-day moving average is $54.78 and its two-hundred day moving average is $59.00. The company has a market capitalization of $12.95 billion, a P/E ratio of 27.63, a P/E/G ratio of 1.63 and a beta of 1.57. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.72 and a current ratio of 0.99. Trimble Inc. has a fifty-two week low of $47.52 and a fifty-two week high of $80.99.

Trimble (NASDAQ:TRMB – Get Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The scientific and technical instruments company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). Trimble had a return on equity of 14.45% and a net margin of 12.80%. The company had revenue of $884.90 million for the quarter, compared to analyst estimates of $910.81 million. Research analysts predict that Trimble Inc. will post 2.25 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TRMB shares. Raymond James downgraded Trimble from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 13th. TheStreet downgraded Trimble from a “b-” rating to a “c+” rating in a research report on Tuesday, October 11th. Robert W. Baird cut their target price on Trimble from $70.00 to $65.00 in a research report on Thursday, November 3rd. Oppenheimer cut their target price on Trimble from $86.00 to $72.00 in a research report on Thursday, November 3rd. Finally, Piper Sandler cut their target price on Trimble from $70.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday, November 3rd. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Trimble currently has an average rating of “Hold” and a consensus target price of $69.17.

Trimble Profile

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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 route selection and design; 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.