Covestor Ltd Acquires 372 Shares of Terex Co. (NYSE:TEX)

Covestor Ltd increased its holdings in Terex Co. (NYSE:TEX) by 19.9% in the third quarter, HoldingsChannel.com reports. The fund owned 2,237 shares of the industrial products company’s stock after acquiring an additional 372 shares during the period. Covestor Ltd’s holdings in Terex were worth $119,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TEX. Blue Trust Inc. grew its holdings in shares of Terex by 57.5% during the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 187 shares during the period. GAMMA Investing LLC grew its stake in Terex by 83.3% in the third quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 335 shares during the period. Farther Finance Advisors LLC raised its holdings in Terex by 74.6% in the third quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 504 shares in the last quarter. International Assets Investment Management LLC bought a new position in Terex in the second quarter worth $109,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Terex during the 2nd quarter valued at $111,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Analysts Set New Price Targets

TEX has been the subject of several research reports. Evercore ISI decreased their price target on shares of Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. JPMorgan Chase & Co. decreased their target price on shares of Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. The Goldman Sachs Group dropped their price target on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Robert W. Baird reduced their price objective on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Citigroup dropped their target price on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $59.56.

Terex Stock Down 4.3 %

TEX stock opened at $53.20 on Wednesday. The stock has a market capitalization of $3.55 billion, a P/E ratio of 7.77, a P/E/G ratio of 4.50 and a beta of 1.53. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16. Terex Co. has a 1-year low of $48.11 and a 1-year high of $68.08. The business has a fifty day moving average price of $53.15 and a 200-day moving average price of $55.75.

Terex (NYSE:TEX) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.15. Terex had a net margin of 9.08% and a return on equity of 24.92%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the business earned $1.75 EPS. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. Equities analysts forecast that Terex Co. will post 6.07 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Friday, November 8th. Terex’s dividend payout ratio (DPR) is presently 9.93%.

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.