Trimble (NASDAQ:) recently unveiled the new REF TEK Colt broadband seismometer. The new colt sensor will aid scientists and academics to get in-depth knowledge about tectonic plates and earthquakes by studying seismic activities locally, regionally and globally.
We believe Trimble is poised to gain traction with the new colt sensor as these comply with researchers and academics’ product criteria of compactness, portability and low sound. Further, these new products are strengthening the company’s product portfolio.
Coming to price performance, shares of Trimble have declined 13.3% on a year-to-date basis compared with the industry’s decline of 11.8%.
Product Details
The company’s new device is not only compact in size but will also require fewer batteries for vault deployments. The colt sensor is resilient and comes with an automatic mass locking system, which protects the device during transit.
Notably, the device also features low-self noise and a broad range, making it effective in fetching high quality data as well as recording early warnings of earthquake.
Moreover, the REF TEK Colt's sensor also comprises north/south pointers installed at the base of the unit, which aids in precise alignment of direction for quick field setup.
Trimble Inc. Price and Consensus
Trimble Inc. Price and Consensus | Trimble Inc. Quote
Strengthening Product Portfolio: A Key Catalyst
Trimble’s strengthening product portfolio is the key growth driver for the company. Moreover, its enhanced and new products help the company in acquiring clients.
Recently, Trimble acquired Veltec, a fleet management provider, expanding its fleet safety and efficiency solutions portfolio. The buyout has enhanced its transportation solutions offerings and its global footprint. Notably, acquisitions have aided the company in building a comprehensive portfolio, enter new markets and generate additional revenues.
Moreover, in order to strengthen the company’s supply chain solutions portfolio, Trimble collaborated with Intelligent Audit to integrate its visibility and tracking solutions with Intelligent Audit’s robust freight audit and spend analytics tools. This collaboration is expected to bolster Trimble’s presence in the transportation and logistics industry, which is a positive.
Notably, the company’s well diversified product portfolio will continue to aid its performance and serve its customers better.
Zacks Rank & Other Stocks to Consider
Currently, Trimble carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader computer and technology sector include Generac Holdings Inc. (NYSE:) , SS&C Technologies Holdings, Inc. (NASDAQ:) and Symantec Corporation (NASDAQ:) . All the three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
Expected long-term earnings growth rate for Generac, SS&C and Symantec is 6.5%, 13.5% and 7.9%, respectively.
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