Fifth Third Bancorp Increases Position in Trimble Inc. $TRMB

Key Points

• Fifth Third Bancorp increased its stake in Trimble Inc. by 51.1% during the second quarter, owning 12,420 shares valued at approximately $944,000.
• Multiple institutional investors have significantly boosted their holdings in Trimble, with Central Pacific Bank Trust Division increasing its stake by 174.9% in the first quarter.
• Analysts are optimistic about Trimble, with Oppenheimer and Raymond James both raising their price targets to above $90, indicating a strong consensus rating of "Buy" for the stock.

Fifth Third Bancorp lifted its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 51.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,420 shares of the scientific and technical instruments company's stock after purchasing an additional 4,202 shares during the period. Fifth Third Bancorp's holdings in Trimble were worth $944,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Central Pacific Bank Trust Division increased its stake in shares of Trimble by 174.9% in the 1st quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock valued at $37,000 after purchasing an additional 355 shares in the last quarter. Flaharty Asset Management LLC purchased a new stake in Trimble during the 1st quarter worth approximately $45,000. State of Wyoming purchased a new stake in Trimble during the 1st quarter worth approximately $58,000. Farther Finance Advisors LLC increased its stake in Trimble by 153.5% during the 1st quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock worth $64,000 after buying an additional 591 shares in the last quarter. Finally, Friedenthal Financial increased its stake in Trimble by 64.7% during the 1st quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock worth $76,000 after buying an additional 453 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company's stock.

Insider Transactions at Trimble

In related news, CEO Robert G. Painter sold 115,781 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $82.83, for a total value of $9,590,140.23. Following the transaction, the chief executive officer directly owned 114,879 shares in the company, valued at approximately $9,515,427.57. This represents a 50.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Mark David Schwartz sold 1,476 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $78.00, for a total value of $115,128.00. Following the completion of the transaction, the vice president owned 22,405 shares in the company, valued at $1,747,590. This represents a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,357 shares of company stock valued at $19,181,521 in the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on TRMB. Oppenheimer boosted their price objective on Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Raymond James Financial reiterated an "outperform" rating and set a $93.00 price objective (up from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Wall Street Zen upgraded Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Trimble from $96.00 to $98.00 and gave the stock an "overweight" rating in a research note on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $90.75.

Trimble Trading Up 1.6%

Shares of Trimble stock opened at $81.24 on Monday. The stock has a market cap of $19.33 billion, a P/E ratio of 70.04, a P/E/G ratio of 3.33 and a beta of 1.66. The stock's 50 day simple moving average is $82.05 and its 200-day simple moving average is $73.65. Trimble Inc. has a 1-year low of $52.91 and a 1-year high of $87.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.08. The business had revenue of $875.70 million for the quarter, compared to analysts' expectations of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The business's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 EPS. Analysts predict that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Trimble Company Profile

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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