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Reasons why investors should trust Trimble Inc. (TRMB) for the long-term      

Trimble Inc. (TRMB), which makes automation tools for agricultural and industrial equipment, released its first-quarter earnings last week. Record sales and positive expectations fueled the growth in quotes. On May 10, TRMB traded at $ 77.74.

During the past quarter, Trimble was able to benefit from the recovery in its target markets. Revenue increased 12 % year-over-year to a record $ 886.5 million. Its recurring ARR revenue rose 9 % to $ 1.32 billion, its GAAP net income reached $114.5 million, and its earnings per common share reached $0.45. Operating cash flow increased 26 % to $ 744.5 million.

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Trimble anticipates GAAP revenue of $ 3.39 – 3.49 billion and earnings of $ 1.49 – 1.68 per share in 2021.

For agriculture and construction, Trimble’s solutions range from navigation and automation systems to geographic information systems.

Trimble’s business continues to expand, with the maintenance of vehicle fleets as one of its most promising areas. Hence, the company updated its Trimble TMT Fleet Maintenance software at the end of April 2021 to optimize truck fleet management. Monitoring and maintenance can now be automated more easily with the software. In addition, Trimble added the TravelCenters of America module, giving customers direct access to Trimble service centres across the country.

Trimble Inc. (TRMB) closed the last trading session at $77.74, down 2.00% or $1.59. Company shares fluctuated between $77.32 and $79.16 throughout the day. A total of 1.35 million shares changed hands, less than the company’s 50-day daily volume of 1.56 million and less than its Year to date volume of 2.13 million. The company’s stock has risen 110.11% in the past Year, and it has dropped -4.26% in the last week. The stock has increased by 39.24% in the last six months and by 5.07% in the last three months. The stock has returned 16.43% so far this Year. Additionally, the stock is trading at a price-to-earnings ratio of 44.47.

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