Trimble shares rose 2.4% on Tuesday following an Axios report that the company is working with Goldman Sachs to sell its Transportation & Logistics segment. The unit, which includes a transportation management system and maps product, accounts for $550 million in annual sales, about 15% of Trimble's revenue last year, and provides 21% of annual recurring revenue and 12% of operating profit. Trimble declined to comment on market rumors, while Oppenheimer analyst Kristen Owen said the potential divestiture could simplify the company's portfolio and warrants a fresh look given shares are trading at a decade-low valuation. No potential buyer was named in the report.
Trimble IncPotential divestiture of Transportation & Logistics unit could simplify portfolio and shares rose on the report.
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