JPMorgan Chase & Co. Has $26.65 Million Stock Position in Terex Co. (NYSE:TEX)

JPMorgan Chase & Co. trimmed its holdings in shares of Terex Co. (NYSE:TEX) by 1.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 503,654 shares of the industrial products company’s stock after selling 5,259 shares during the period. JPMorgan Chase & Co. owned approximately 0.75% of Terex worth $26,648,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in Terex by 1.0% in the third quarter. Franklin Resources Inc. now owns 81,450 shares of the industrial products company’s stock worth $4,512,000 after purchasing an additional 795 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Terex during the 3rd quarter worth about $40,000. Sanctuary Advisors LLC grew its stake in shares of Terex by 7.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 10,610 shares of the industrial products company’s stock valued at $571,000 after buying an additional 717 shares during the period. Virtu Financial LLC bought a new stake in Terex in the 3rd quarter valued at about $704,000. Finally, Invst LLC acquired a new position in Terex during the 3rd quarter worth approximately $206,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

Terex Stock Up 1.1 %

TEX opened at $45.69 on Wednesday. Terex Co. has a twelve month low of $44.04 and a twelve month high of $68.08. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $50.67 and its two-hundred day moving average price is $53.38. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 6.67, a PEG ratio of 4.00 and a beta of 1.55.

Terex (NYSE:TEX) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.15. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.75 EPS. As a group, equities analysts expect that Terex Co. will post 6.07 earnings per share for the current year.

Terex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 8th were paid a $0.17 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.49%. Terex’s dividend payout ratio is 9.93%.

Insider Buying and Selling at Terex

In other Terex news, CEO Simon Meester sold 9,877 shares of Terex stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total transaction of $505,109.78. Following the completion of the transaction, the chief executive officer now owns 127,858 shares of the company’s stock, valued at $6,538,658.12. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David A. Sachs purchased 20,000 shares of the stock in a transaction dated Friday, December 13th. The stock was purchased at an average cost of $49.75 per share, for a total transaction of $995,000.00. Following the completion of the acquisition, the director now owns 137,500 shares of the company’s stock, valued at approximately $6,840,625. This represents a 17.02 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TEX. The Goldman Sachs Group lowered their target price on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Robert W. Baird reduced their price objective on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Citigroup decreased their target price on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research report on Monday, September 23rd. JPMorgan Chase & Co. cut their price target on Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Finally, Truist Financial dropped their target price on Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $58.78.

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.