Bank of America Corp DE Has $10.97 Million Holdings in Terex Co. (NYSE:TEX)

Bank of America Corp DE cut its stake in Terex Co. (NYSE:TEX - Free Report) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 237,389 shares of the industrial products company's stock after selling 19,395 shares during the period. Bank of America Corp DE owned 0.36% of Terex worth $10,972,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its holdings in shares of Terex by 44.6% during the fourth quarter. BNP Paribas Financial Markets now owns 32,971 shares of the industrial products company's stock valued at $1,524,000 after buying an additional 10,163 shares during the last quarter. Comerica Bank increased its position in Terex by 19.4% in the 4th quarter. Comerica Bank now owns 36,350 shares of the industrial products company's stock valued at $1,680,000 after acquiring an additional 5,900 shares during the period. Northern Trust Corp raised its stake in Terex by 10.5% during the 4th quarter. Northern Trust Corp now owns 893,614 shares of the industrial products company's stock valued at $41,303,000 after acquiring an additional 85,094 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in Terex during the 4th quarter valued at $2,869,000. Finally, Aquatic Capital Management LLC boosted its position in Terex by 34.4% during the 4th quarter. Aquatic Capital Management LLC now owns 47,168 shares of the industrial products company's stock worth $2,180,000 after acquiring an additional 12,068 shares during the period. 92.88% of the stock is owned by institutional investors and hedge funds.

Terex Trading Down 0.4%

NYSE TEX traded down $0.19 on Thursday, hitting $45.93. 1,155,059 shares of the stock were exchanged, compared to its average volume of 923,497. The company's 50-day moving average price is $39.32 and its two-hundred day moving average price is $44.10. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.16 and a quick ratio of 1.09. Terex Co. has a 52-week low of $31.53 and a 52-week high of $68.08. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 9.26, a P/E/G ratio of 4.53 and a beta of 1.52.

Terex (NYSE:TEX - Get Free Report) last issued its earnings results on Friday, May 2nd. The industrial products company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.26. Terex had a return on equity of 21.99% and a net margin of 6.54%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the company earned $1.60 EPS. The firm's quarterly revenue was down 4.9% on a year-over-year basis. Research analysts predict that Terex Co. will post 4.83 EPS for the current year.

Terex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Friday, June 6th. Terex's dividend payout ratio (DPR) is presently 18.53%.

Analysts Set New Price Targets

A number of research firms recently commented on TEX. JPMorgan Chase & Co. raised their price objective on shares of Terex from $38.00 to $43.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Wall Street Zen upgraded shares of Terex from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. The Goldman Sachs Group upgraded shares of Terex from a "neutral" rating to a "buy" rating and raised their price objective for the company from $45.00 to $60.00 in a research report on Tuesday. Truist Financial lifted their price objective on shares of Terex from $47.00 to $50.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, Robert W. Baird raised shares of Terex from a "neutral" rating to an "outperform" rating and increased their target price for the company from $48.00 to $66.00 in a research note on Tuesday, May 13th. Eight research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $50.20.

Insider Buying and Selling

In other Terex news, Director Andra Rush acquired 1,325 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $36.96 per share, with a total value of $48,972.00. Following the completion of the transaction, the director now owns 23,308 shares in the company, valued at $861,463.68. The trade was a 6.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joshua Gross sold 5,389 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $40.75, for a total transaction of $219,601.75. Following the transaction, the insider now owns 38,755 shares in the company, valued at approximately $1,579,266.25. This trade represents a 12.21% decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

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.