Fifth Third Bancorp Sells 381 Shares of Trimble Inc. (NASDAQ:TRMB)

Fifth Third Bancorp reduced its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,728 shares of the scientific and technical instruments company’s stock after selling 381 shares during the period. Fifth Third Bancorp’s holdings in Trimble were worth $546,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. grew its position in shares of Trimble by 41.4% in the third quarter. Victory Capital Management Inc. now owns 5,442,653 shares of the scientific and technical instruments company’s stock valued at $337,934,000 after purchasing an additional 1,594,732 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Trimble by 49.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,056,558 shares of the scientific and technical instruments company’s stock worth $127,692,000 after buying an additional 676,954 shares in the last quarter. Impax Asset Management Group plc grew its position in Trimble by 18.7% during the third quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company’s stock worth $169,978,000 after buying an additional 434,065 shares in the last quarter. Sora Investors LLC acquired a new stake in Trimble during the third quarter worth about $22,663,000. Finally, Assenagon Asset Management S.A. grew its position in Trimble by 132.0% during the third quarter. Assenagon Asset Management S.A. now owns 521,774 shares of the scientific and technical instruments company’s stock worth $32,397,000 after buying an additional 296,893 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.

Trimble Stock Performance

TRMB stock opened at $75.38 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07. The company has a 50 day moving average price of $73.13 and a 200 day moving average price of $64.17. Trimble Inc. has a fifty-two week low of $48.65 and a fifty-two week high of $77.78. The stock has a market capitalization of $18.53 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 3.21 and a beta of 1.52.

Insider Buying and Selling

In other Trimble news, VP Jennifer Allison sold 3,571 shares of Trimble stock in a transaction on Friday, January 17th. The shares were sold at an average price of $74.75, for a total transaction of $266,932.25. Following the completion of the sale, the vice president now owns 3,157 shares of the company’s stock, valued at approximately $235,985.75. The trade was a 53.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Oppenheimer lifted their target price on Trimble from $77.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Piper Sandler reissued an “overweight” rating and set a $84.00 target price on shares of Trimble in a research report on Wednesday, December 11th. Wolfe Research raised Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 target price on the stock in a research report on Monday, December 16th. Robert W. Baird raised their price target on shares of Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. upgraded shares of Trimble from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $74.00 to $92.00 in a research note on Wednesday, December 4th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Trimble currently has a consensus rating of “Buy” and an average price target of $84.86.

About Trimble

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.