Terex (NYSE:TEX) Price Target Lowered to $68.00 at Truist Financial

Terex (NYSE:TEX) had its target price trimmed by Truist Financial from $73.00 to $68.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

TEX has been the subject of several other reports. Citigroup assumed coverage on Terex in a research note on Wednesday, June 26th. They set a neutral rating and a $60.00 price objective for the company. JPMorgan Chase & Co. downgraded Terex from an overweight rating to a neutral rating and set a $63.00 price objective for the company. in a research note on Monday, March 18th. UBS Group upped their price objective on Terex from $62.00 to $64.00 and gave the company a neutral rating in a research note on Tuesday, May 21st. Finally, Raymond James assumed coverage on Terex in a research note on Friday, June 28th. They set a market perform rating for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $64.67.

Terex Price Performance

TEX stock opened at $53.38 on Tuesday. The company has a current ratio of 2.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $3.59 billion, a P/E ratio of 7.07 and a beta of 1.61. The business has a 50 day simple moving average of $57.75 and a 200-day simple moving average of $58.81. Terex has a twelve month low of $43.70 and a twelve month high of $65.89.

Terex (NYSE:TEX) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.23. Terex had a net margin of 9.87% and a return on equity of 30.53%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.23 billion. As a group, equities analysts anticipate that Terex will post 7.09 EPS for the current year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Thursday, June 6th. Terex’s dividend payout ratio (DPR) is presently 9.01%.

Insider Transactions at Terex

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Curated Wealth Partners LLC raised its position in Terex by 48.1% in the fourth quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock valued at $10,166,000 after purchasing an additional 57,500 shares during the period. International Assets Investment Management LLC raised its position in Terex by 5,549.8% in the fourth quarter. International Assets Investment Management LLC now owns 128,193 shares of the industrial products company’s stock valued at $7,366,000 after purchasing an additional 125,924 shares during the period. Assenagon Asset Management S.A. raised its position in Terex by 103.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 110,391 shares of the industrial products company’s stock valued at $6,343,000 after purchasing an additional 56,169 shares during the period. Connectus Wealth LLC purchased a new position in Terex in the fourth quarter valued at about $1,872,000. Finally, Brevan Howard Capital Management LP purchased a new position in Terex in the fourth quarter valued at about $1,489,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

About Terex

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.