Bank of America Corp DE Sells 19,395 Shares of Terex Co. (NYSE:TEX)

Bank of America Corp DE decreased its position in Terex Co. (NYSE:TEX - Free Report) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TEX. Jones Financial Companies Lllp bought a new position in shares of Terex in the fourth quarter valued at approximately $31,000. Smartleaf Asset Management LLC grew its stake in Terex by 46.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 222 shares during the period. VisionPoint Advisory Group LLC bought a new position in Terex in the 4th quarter valued at $51,000. Blue Trust Inc. increased its position in shares of Terex by 26.8% during the 4th quarter. Blue Trust Inc. now owns 1,229 shares of the industrial products company's stock valued at $57,000 after purchasing an additional 260 shares during the last quarter. Finally, Sterling Capital Management LLC raised its stake in shares of Terex by 817.0% during the 4th quarter. Sterling Capital Management LLC now owns 2,100 shares of the industrial products company's stock worth $97,000 after purchasing an additional 1,871 shares during the period. Hedge funds and other institutional investors own 92.88% of the company's stock.

Insider Transactions at Terex

In related news, insider Joshua Gross sold 5,389 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $40.75, for a total transaction of $219,601.75. Following the completion of the transaction, the insider now directly owns 38,755 shares in the company, valued at $1,579,266.25. The trade was a 12.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andra Rush bought 1,325 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the purchase, the director now directly owns 23,308 shares in the company, valued at approximately $861,463.68. The trade was a 6.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.90% of the company's stock.

Terex Stock Performance

Shares of NYSE:TEX traded up $2.60 during midday trading on Tuesday, reaching $47.21. 669,896 shares of the company traded hands, compared to its average volume of 921,681. The company has a quick ratio of 1.09, a current ratio of 2.16 and a debt-to-equity ratio of 1.41. Terex Co. has a 12 month low of $31.53 and a 12 month high of $68.08. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 4.53 and a beta of 1.52. The firm's fifty day moving average price is $38.92 and its two-hundred day moving average price is $44.13.

Terex (NYSE:TEX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.26. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.26 billion. Terex had a net margin of 6.54% and a return on equity of 21.99%. Terex's revenue was down 4.9% compared to the same quarter last year. During the same period last year, the business earned $1.60 earnings per share. On average, equities analysts expect that Terex Co. will post 4.83 earnings per share for the current year.

Terex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.17 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.68 annualized dividend and a dividend yield of 1.44%. Terex's payout ratio is currently 18.53%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TEX. Wall Street Zen upgraded shares of Terex from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Morgan Stanley reduced their target price on shares of Terex from $43.00 to $30.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. raised their price target on shares of Terex from $38.00 to $43.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Truist Financial upped their price objective on Terex from $47.00 to $50.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Citigroup reduced their price objective on Terex from $45.00 to $36.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Terex presently has a consensus rating of "Hold" and a consensus target price of $50.20.

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.