Bank of America Corp DE Invests $33.70 Million in Terex Corporation $TEX

Key Points

• Bank of America acquired 465,468 Terex shares worth approximately $33.7 million, representing about 0.41% of the company. Institutional investors collectively own 92.88% of Terex.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $78.91; targets range from $68 to $96.
• Terex exceeded quarterly earnings expectations, reporting $1.37 in EPS versus $1.23 forecast and $2.24 billion in revenue, up 50.5% year over year. The company also declared a quarterly dividend of $0.17 per share.

Bank of America Corp DE acquired a new stake in Terex Corporation (NYSE:TEX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 465,468 shares of the industrial products company's stock, valued at approximately $33,695,000. Bank of America Corp DE owned approximately 0.41% of Terex as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TEX. GAMMA Investing LLC grew its holdings in shares of Terex by 7.6% during the second quarter. GAMMA Investing LLC now owns 2,290 shares of the industrial products company's stock worth $166,000 after buying an additional 161 shares in the last quarter. Kestra Advisory Services LLC increased its holdings in shares of Terex by 4.0% during the 1st quarter. Kestra Advisory Services LLC now owns 7,369 shares of the industrial products company's stock worth $436,000 after buying an additional 286 shares during the last quarter. Optiver Holding B.V. boosted its holdings in Terex by 67.5% in the first quarter. Optiver Holding B.V. now owns 782 shares of the industrial products company's stock valued at $46,000 after acquiring an additional 315 shares during the last quarter. Essential Partners LLC boosted its holdings in Terex by 171.2% in the first quarter. Essential Partners LLC now owns 564 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 356 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its position in Terex by 22.7% during the fourth quarter. Hantz Financial Services Inc. now owns 2,013 shares of the industrial products company's stock valued at $107,000 after acquiring an additional 372 shares during the period. Institutional investors and hedge funds own 92.88% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on TEX. JPMorgan Chase & Co. cut their price objective on Terex from $80.00 to $68.00 and set a "neutral" rating on the stock in a report on Friday, July 31st. Citigroup boosted their target price on Terex from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Barclays increased their target price on shares of Terex from $65.00 to $70.00 and gave the stock an "overweight" rating in a research report on Monday, July 20th. Truist Financial lifted their price target on shares of Terex from $92.00 to $96.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Finally, DA Davidson started coverage on shares of Terex in a research note on Wednesday, June 24th. They set a "strong-buy" rating and a $81.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $78.91.

Terex Stock Performance

Shares of Terex stock opened at $58.84 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.93 and a current ratio of 1.82. Terex Corporation has a 1 year low of $41.70 and a 1 year high of $74.69. The firm's 50-day simple moving average is $64.10 and its 200-day simple moving average is $63.05. The firm has a market cap of $6.72 billion, a PE ratio of 30.02, a price-to-earnings-growth ratio of 0.89 and a beta of 1.50.

Terex (NYSE:TEX - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The industrial products company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.14. Terex had a return on equity of 12.24% and a net margin of 2.23%.The firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the company earned $1.49 earnings per share. Terex's quarterly revenue was up 50.5% on a year-over-year basis. Terex has set its FY 2026 guidance at 4.700-5.100 EPS. Equities analysts forecast that Terex Corporation will post 5 earnings per share for the current fiscal year.

Terex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Tuesday, August 11th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, August 11th. Terex's dividend payout ratio is currently 34.69%.

Terex Company Profile

Terex Corporation NYSE: TEX is a global manufacturer of equipment used in construction, infrastructure development, utilities, quarrying, mining, recycling and other industrial applications. The company operates through two principal business segments: Aerial Work Platforms and Materials Processing.

Through its Genie brand, Terex produces aerial work platforms and related equipment, including boom lifts, scissor lifts, telehandlers and vertical mast lifts. Its Materials Processing segment supplies machinery used to crush, screen, wash, convey and process materials, along with equipment for recycling, wood processing and environmental applications.

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