Terex Co. (NYSE:TEX) Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its position in shares of Terex Co. (NYSE:TEX - Free Report) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 approximately 0.36% of Terex worth $10,972,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC grew its holdings in Terex by 46.1% during 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 last quarter. Envestnet Asset Management Inc. grew its stake in shares of Terex by 0.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 36,671 shares of the industrial products company's stock valued at $1,695,000 after buying an additional 237 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Terex by 26.8% in the fourth quarter. Blue Trust Inc. now owns 1,229 shares of the industrial products company's stock worth $57,000 after buying an additional 260 shares during the period. Barnett & Company Inc. raised its holdings in shares of Terex by 4.3% in the fourth quarter. Barnett & Company Inc. now owns 7,300 shares of the industrial products company's stock worth $337,000 after buying an additional 300 shares during the period. Finally, New York State Teachers Retirement System lifted its stake in shares of Terex by 0.4% during the 4th quarter. New York State Teachers Retirement System now owns 83,035 shares of the industrial products company's stock worth $3,838,000 after acquiring an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company's stock.

Insiders Place Their Bets

In other news, insider Joshua Gross sold 5,389 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $40.75, for a total value of $219,601.75. Following the completion of the sale, 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 link. Also, Director Andra Rush purchased 1,325 shares of the stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost 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 of the company's stock, 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.

Analysts Set New Price Targets

TEX has been the topic of several research analyst reports. Baird R W raised Terex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Robert W. Baird raised shares of Terex from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $48.00 to $66.00 in a research note on Tuesday, May 13th. The Goldman Sachs Group raised shares of Terex from a "neutral" rating to a "buy" rating and raised their price target for the stock from $45.00 to $60.00 in a research note on Tuesday. UBS Group upgraded shares of Terex from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $34.00 to $48.00 in a report on Friday, May 16th. Finally, Wall Street Zen upgraded shares of Terex from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Eight research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $50.20.

Terex Stock Performance

Shares of NYSE TEX traded down $0.10 during midday trading on Thursday, reaching $46.02. The company had a trading volume of 147,416 shares, compared to its average volume of 918,808. Terex Co. has a 1 year low of $31.53 and a 1 year high of $68.08. The business's 50-day simple moving average is $39.22 and its 200 day simple moving average is $44.16. The company has a current ratio of 2.16, a quick ratio of 1.09 and a debt-to-equity ratio of 1.41. The stock has a market cap of $3.05 billion, a P/E ratio of 9.28, a P/E/G ratio of 4.53 and a beta of 1.52.

Terex (NYSE:TEX - Get Free Report) last posted its earnings results on Friday, May 2nd. The industrial products company reported $0.83 earnings per share (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 the consensus estimate of $1.26 billion. Terex had a net margin of 6.54% and a return on equity of 21.99%. The firm's quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.60 earnings per share. On average, analysts forecast that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

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

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.