Terex Co. (NYSE:TEX) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its position in shares of Terex Co. (NYSE:TEX) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,645 shares of the industrial products company’s stock after selling 610 shares during the period. PNC Financial Services Group Inc.’s holdings in Terex were worth $324,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Blue Trust Inc. increased its holdings in shares of Terex by 179.0% in the 4th quarter. Blue Trust Inc. now owns 466 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 299 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in Terex in the fourth quarter valued at approximately $29,000. OLD Point Trust & Financial Services N A acquired a new stake in Terex during the fourth quarter worth approximately $61,000. Principal Securities Inc. purchased a new stake in shares of Terex during the 4th quarter worth approximately $85,000. Finally, Diversified Trust Co purchased a new stake in shares of Terex during the 4th quarter worth approximately $202,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Terex

In other news, VP Scott Posner sold 12,500 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $60.48, for a total transaction of $756,000.00. Following the transaction, the vice president now directly owns 58,224 shares of the company’s stock, valued at approximately $3,521,387.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Scott Posner sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $60.48, for a total transaction of $756,000.00. Following the sale, the vice president now owns 58,224 shares of the company’s stock, valued at approximately $3,521,387.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Stephen Johnston sold 3,239 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total value of $200,818.00. Following the completion of the sale, the chief accounting officer now owns 14,606 shares in the company, valued at approximately $905,572. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,929 shares of company stock valued at $1,958,307. 1.90% of the stock is owned by company insiders.

Terex Stock Up 3.1 %

Shares of Terex stock opened at $54.84 on Friday. The company has a market cap of $3.69 billion, a P/E ratio of 7.26 and a beta of 1.61. The firm has a fifty day moving average of $58.05 and a two-hundred day moving average of $58.83. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 2.16. Terex Co. has a one year low of $43.70 and a one year high of $65.89.

Terex (NYSE:TEX) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.23. Terex had a net margin of 9.87% and a return on equity of 30.53%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.23 billion. On average, analysts forecast that Terex Co. will post 7.09 earnings per share for the current year.

Terex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Thursday, June 6th. Terex’s payout ratio is 9.01%.

Wall Street Analyst Weigh In

TEX has been the topic of several research analyst reports. Raymond James began coverage on shares of Terex in a research note on Friday. They set a “market perform” rating on the stock. UBS Group lifted their target price on Terex from $62.00 to $64.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. JPMorgan Chase & Co. cut Terex from an “overweight” rating to a “neutral” rating and set a $63.00 target price for the company. in a research report on Monday, March 18th. Citigroup started coverage on Terex in a research report on Wednesday. They set a “neutral” rating and a $60.00 price target on the stock. Finally, Truist Financial initiated coverage on Terex in a report on Thursday, March 14th. They issued a “buy” rating and a $73.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $65.08.

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.