State Street Corp Decreases Stake in Terex Co. (NYSE:TEX)

State Street Corp trimmed its holdings in shares of Terex Co. (NYSE:TEX - Free Report) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,447,233 shares of the industrial products company's stock after selling 23,356 shares during the quarter. State Street Corp owned 3.66% of Terex worth $129,483,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in TEX. Quadrature Capital Ltd acquired a new stake in Terex in the 3rd quarter valued at approximately $685,000. Quantinno Capital Management LP lifted its holdings in shares of Terex by 25.2% during the third quarter. Quantinno Capital Management LP now owns 8,664 shares of the industrial products company's stock valued at $458,000 after purchasing an additional 1,744 shares during the last quarter. Quarry LP boosted its holdings in shares of Terex by 13,447.1% in the third quarter. Quarry LP now owns 23,301 shares of the industrial products company's stock worth $1,233,000 after buying an additional 23,129 shares during the period. Point72 DIFC Ltd purchased a new position in Terex during the 3rd quarter worth approximately $316,000. Finally, Point72 Asset Management L.P. acquired a new position in Terex during the third quarter valued at $4,283,000. 92.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TEX has been the subject of several recent research reports. Robert W. Baird cut their price objective on Terex from $65.00 to $55.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. Evercore ISI lowered 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. Truist Financial increased their target price on Terex from $62.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Citigroup lowered their price target 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of Terex from $65.00 to $62.00 and set a "neutral" rating on the stock in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $59.56.

Terex Stock Down 2.2 %

NYSE:TEX traded down $1.09 during trading hours on Friday, hitting $49.55. 794,540 shares of the company traded hands, compared to its average volume of 557,879. 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 has a market cap of $3.31 billion, a PE ratio of 7.23, a PEG ratio of 4.00 and a beta of 1.53. The firm's 50-day simple moving average is $53.61 and its 200-day simple moving average is $54.59. Terex Co. has a one year low of $48.11 and a one year high of $68.08.

Terex (NYSE:TEX - Get Free Report) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.15. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. The company's quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.75 EPS. Equities analysts predict that Terex Co. will post 6.07 earnings per share for the current year.

Terex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Friday, November 8th. Terex's dividend payout ratio (DPR) is presently 9.93%.

Insider Buying and Selling at Terex

In other Terex news, Director David A. Sachs bought 10,000 shares of Terex stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average cost of $51.30 per share, with a total value of $513,000.00. Following the transaction, the director now directly owns 107,500 shares of the company's stock, valued at $5,514,750. This represents a 10.26 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Simon Meester sold 9,877 shares of Terex stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $51.14, for a total value of $505,109.78. Following 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 disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

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.