BMI - Trimble: On Position Again Supported By Some Real Green Shoots

2024-05-08 17:07:25 ET

Summary

• Trimble Inc. has faced uncertainties and underwhelming performance in the past, but recent green shoots have created an interesting setup.
• The company operates in three segments: AECO, field systems, and transportation and logistics, as this is genuinely a well-positioned business.
• After some hiccups in the fall, operating momentum has returned and these advancements have been well reflected in the share price.

In November, I believed that it was time to change course in the case of Trimble Inc. ( TRMB ) . After a tougher year, an expensive deal made in Germany, and a complicated joint venture made with AGCO ( AGCO ) , there were quite some uncertainties, although the resulting poor share price action left shares more attractively priced than we have seen in the past....

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