JPMorgan Chase & Co. Cuts Terex (NYSE:TEX) Price Target to $59.00

Terex (NYSE:TEX) had its price target trimmed by JPMorgan Chase & Co. from $63.00 to $59.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

Other equities research analysts have also recently issued research reports about the company. Citigroup assumed coverage on Terex in a research note on Wednesday, June 26th. They issued a neutral rating and a $60.00 price target on the stock. UBS Group increased their price target on Terex from $62.00 to $64.00 and gave the company a neutral rating in a research note on Tuesday, May 21st. Truist Financial dropped their price target on Terex from $73.00 to $68.00 and set a buy rating on the stock in a research note on Tuesday, July 2nd. Finally, Raymond James assumed coverage on Terex in a research note on Friday, June 28th. They issued a market perform rating on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $63.67.

Terex Trading Up 0.6 %

Shares of Terex stock opened at $54.61 on Wednesday. Terex has a 12-month low of $43.70 and a 12-month high of $65.89. The stock has a market cap of $3.68 billion, a P/E ratio of 7.23 and a beta of 1.57. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average is $56.98 and its 200-day moving average is $58.55.

Terex (NYSE:TEX) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.23. Terex had a return on equity of 30.53% and a net margin of 9.87%. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Equities research analysts predict that Terex will post 7.09 earnings per share for the current fiscal year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, June 6th. Terex’s dividend payout ratio (DPR) is currently 9.01%.

Insider Transactions at Terex

In other news, VP Scott Posner sold 12,500 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $60.48, for a total transaction of $756,000.00. Following the sale, the vice president now directly owns 58,224 shares of the company’s stock, valued at approximately $3,521,387.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Scott Posner sold 12,500 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $60.48, for a total value of $756,000.00. Following the sale, the vice president now directly owns 58,224 shares of the company’s stock, valued at $3,521,387.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kieran Hegarty sold 17,190 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $58.26, for a total value of $1,001,489.40. Following the completion of the sale, the insider now directly owns 200,029 shares in the company, valued at $11,653,689.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,929 shares of company stock valued at $1,958,307. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of Terex

Several large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in Terex by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,675,548 shares of the industrial products company’s stock valued at $153,742,000 after buying an additional 78,362 shares in the last quarter. Greenhaven Associates Inc. raised its position in Terex by 101.5% in the fourth quarter. Greenhaven Associates Inc. now owns 1,456,700 shares of the industrial products company’s stock valued at $83,702,000 after purchasing an additional 733,690 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Terex by 4.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 921,985 shares of the industrial products company’s stock valued at $52,977,000 after purchasing an additional 42,364 shares during the last quarter. Victory Capital Management Inc. raised its position in Terex by 2.5% in the fourth quarter. Victory Capital Management Inc. now owns 803,906 shares of the industrial products company’s stock valued at $46,192,000 after purchasing an additional 19,925 shares during the last quarter. Finally, Norges Bank bought a new position in Terex in the fourth quarter valued at about $42,606,000. 92.88% of the stock is owned by institutional investors and hedge funds.

Terex Company Profile

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.