The Goldman Sachs Group Trims Terex (NYSE:TEX) Target Price to $62.00

Terex (NYSE:TEX) had its price target lowered by The Goldman Sachs Group from $72.00 to $62.00 in a research note published on Friday morning, Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

TEX has been the topic of several other research reports. Raymond James assumed coverage on shares of Terex in a report on Friday, June 28th. They issued a market perform rating on the stock. Truist Financial upped their target price on shares of Terex from $68.00 to $74.00 and gave the stock a buy rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on shares of Terex from $59.00 to $65.00 and gave the stock a neutral rating in a report on Tuesday, July 23rd. Citigroup assumed coverage on shares of Terex in a report on Wednesday, June 26th. They issued a neutral rating and a $60.00 target price on the stock. Finally, Robert W. Baird increased their price objective on shares of Terex from $58.00 to $67.00 and gave the stock a neutral rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $61.20.

Terex Trading Down 3.7 %

Shares of TEX stock opened at $51.86 on Friday. Terex has a 52-week low of $43.70 and a 52-week high of $68.08. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 6.87, a P/E/G ratio of 3.61 and a beta of 1.53. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 2.21. The firm has a fifty day moving average of $55.96 and a 200-day moving average of $57.84.

Terex (NYSE:TEX) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.10. Terex had a net margin of 9.55% and a return on equity of 27.89%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the firm earned $2.35 EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts forecast that Terex will post 7.21 earnings per share for the current fiscal year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 9th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Friday, August 9th. Terex’s dividend payout ratio (DPR) is presently 9.01%.

Insider Activity

In other Terex news, Director Andra Rush bought 2,205 shares of Terex stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $54.36 per share, with a total value of $119,863.80. Following the purchase, the director now owns 21,983 shares of the company’s stock, valued at $1,194,995.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.90% of the company’s stock.

Institutional Trading of Terex

Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in Terex by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company’s stock worth $154,224,000 after buying an additional 109,885 shares during the period. AQR Capital Management LLC raised its holdings in Terex by 18.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock worth $99,045,000 after buying an additional 285,750 shares during the period. Greenhaven Associates Inc. raised its holdings in Terex by 1.6% during the 2nd quarter. Greenhaven Associates Inc. now owns 1,499,671 shares of the industrial products company’s stock worth $82,242,000 after buying an additional 23,371 shares during the period. American Century Companies Inc. raised its holdings in Terex by 25.6% during the 2nd quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock worth $72,538,000 after buying an additional 269,777 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Terex by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 790,118 shares of the industrial products company’s stock worth $43,330,000 after buying an additional 26,377 shares during the period. 92.88% of the stock is currently owned by institutional investors and hedge funds.

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.