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Trimble Stock Rises on Reported Sale of Transportation Unit

Trimble's shares gained ground Tuesday following reports the company is exploring a sale of its Transportation & Logistics segment with Goldman Sachs advising on the process. The unit encompasses the company's transportation management system and maps offerings. Trimble has spent roughly 15 years building out its transportation software portfolio through acquisitions and now appears to be divesting the business amid intensifying market competition. The company declined to confirm details, stating it regularly receives interest regarding its various business units but does not comment on market speculation. Oppenheimer analyst Kristen Owen said a divestiture aligns with Trimble's recent strategy, following its 2023 majority sale of its Agriculture business and 2024 divestiture of its Mobility unit to Platform Science. Owen noted Trimble's stock trades at a decade-low valuation despite strong fundamentals, particularly in hardware.