TRIMBLE INC.
In the published model solve dated 2026-Q2, anchored at $61.01, TRIMBLE INC. (TRMB) is priced for today's economics sustained for ~6.4 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 11, 2026 from SEC EDGAR filings.
• Trimble is mid-way through converting a positioning-hardware company into a vertical-software company, and the flywheel metric is annualized recurring revenue, a record $2.43 billion and up 13% organically in the March quarter; the 10-K defines it plainly: ⟦"ARR represents the estimated annualized value of recurring revenue"⟧. [Source: Q1 2026 earnings, May 2026] • The risk is that the price already credits a long runway: no valuation family reaches it, and management spent $558.8 million on b
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750 institutional managers reported holding TRMB in 13F filings for the quarter ended 2026-03-31. Together they hold about 92% of the company; the top 10 hold 45%. 90 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 10.0M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (3.4 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
TRMB has cut its share count 6.8% over the past five years, spending $2.00B on repurchases. It pays no dividend. Cash returned over the past three years: $1.46B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at TRMB over the trailing three years: 2023: 2 buys totaling $466k. 18 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
TRMB's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2022-11-03 | -13.1% | -3.7% |
| 2023-02-18 | -3.7% | -14.0% |
| 2023-05-04 | +3.5% | +7.7% |
| 2023-08-05 | +3.7% | -7.9% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
TRMB's latest 8-K filings: 2026-08-12 (items 2.02, 8.01, 9.01); 2026-05-27 (items 5.07, 8.01); 2026-05-26 (items 5.02, 8.01); 2026-05-06 (items 2.02, 9.01); 2026-03-24 (items 5.02).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 11, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.