Terex (NYSE:TEX) PT Lowered to $62.00

Terex (NYSE:TEX - Free Report) had its price objective trimmed by JPMorgan Chase & Co. from $65.00 to $62.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a neutral rating on the industrial products company's stock.

TEX has been the topic of several other research reports. Citigroup lowered their price objective on shares of Terex from $60.00 to $57.00 and set a neutral rating on the stock in a research note on Monday, September 23rd. Truist Financial decreased their target price on shares of Terex from $63.00 to $62.00 and set a buy rating on the stock in a research note on Wednesday, October 9th. Robert W. Baird raised their target price on shares of Terex from $63.00 to $65.00 and gave the stock a neutral rating in a research note on Wednesday, October 9th. The Goldman Sachs Group decreased their target price on shares of Terex from $72.00 to $62.00 and set a neutral rating on the stock in a research note on Friday, September 20th. Finally, Evercore ISI decreased their target price on shares of Terex from $67.00 to $59.00 and set an outperform rating on the stock in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Terex presently has an average rating of Hold and a consensus target price of $60.30.

Terex Stock Performance

TEX traded down $0.09 during midday trading on Monday, hitting $55.39. 648,675 shares of the company traded hands, compared to its average volume of 831,432. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $3.73 billion, a PE ratio of 7.34, a price-to-earnings-growth ratio of 4.43 and a beta of 1.53. The company's 50-day moving average is $53.31 and its 200 day moving average is $56.98. Terex has a 52 week low of $43.70 and a 52 week high of $68.08.

Terex (NYSE:TEX - Get Free Report) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.10. The business had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.43 billion. Terex had a net margin of 9.55% and a return on equity of 27.89%. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.35 EPS. On average, research analysts expect that Terex will post 5.88 EPS for the current year.

Terex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.23%. Terex's payout ratio is 9.01%.

Insiders Place Their Bets

In other news, Director Andra Rush acquired 2,205 shares of the company's stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $54.36 per share, with a total value of $119,863.80. Following the completion of the purchase, the director now directly owns 21,983 shares of the company's stock, valued at $1,194,995.88. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by insiders.

Institutional Trading of Terex

Several institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in shares of Terex by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company's stock worth $154,224,000 after purchasing an additional 109,885 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Terex by 18.4% during the second quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company's stock worth $99,045,000 after purchasing an additional 285,750 shares during the last quarter. Greenhaven Associates Inc. lifted its position in shares of Terex by 1.6% during the second quarter. Greenhaven Associates Inc. now owns 1,499,671 shares of the industrial products company's stock worth $82,242,000 after purchasing an additional 23,371 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Terex by 25.6% during the second quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company's stock worth $72,538,000 after purchasing an additional 269,777 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Terex by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 790,118 shares of the industrial products company's stock valued at $43,330,000 after acquiring an additional 26,377 shares in the last quarter. 92.88% of the stock is currently owned by 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.