JPMorgan Chase & Co. Sells 273,984 Shares of Terex Corporation $TEX

JPMorgan Chase & Co. lessened its stake in Terex Corporation (NYSE:TEX) by 38.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 430,860 shares of the industrial products company’s stock after selling 273,984 shares during the quarter. JPMorgan Chase & Co. owned about 0.66% of Terex worth $22,103,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP acquired a new stake in Terex during the 3rd quarter worth $121,724,000. Invesco Ltd. lifted its stake in shares of Terex by 801.3% in the 3rd quarter. Invesco Ltd. now owns 1,603,965 shares of the industrial products company’s stock valued at $82,283,000 after purchasing an additional 1,425,996 shares during the period. UBS Group AG lifted its stake in shares of Terex by 168.5% in the 3rd quarter. UBS Group AG now owns 964,495 shares of the industrial products company’s stock valued at $49,479,000 after purchasing an additional 605,337 shares during the period. Norges Bank bought a new position in shares of Terex in the 2nd quarter worth $24,870,000. Finally, Millennium Management LLC boosted its position in shares of Terex by 1,086.3% in the 1st quarter. Millennium Management LLC now owns 256,054 shares of the industrial products company’s stock worth $9,674,000 after purchasing an additional 234,470 shares during the last quarter. 92.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TEX shares. Wells Fargo & Company lifted their price target on shares of Terex from $56.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. JPMorgan Chase & Co. started coverage on shares of Terex in a research report on Wednesday, March 4th. They issued a “neutral” rating and a $76.00 price objective for the company. Zacks Research lowered Terex from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. Robert W. Baird set a $100.00 target price on Terex in a research note on Thursday, February 12th. Finally, Truist Financial increased their price target on Terex from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Terex has a consensus rating of “Moderate Buy” and an average target price of $72.90.

Insiders Place Their Bets

In other Terex news, insider Kieran Hegarty sold 11,980 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $69.24, for a total transaction of $829,495.20. Following the sale, the insider directly owned 173,495 shares of the company’s stock, valued at approximately $12,012,793.80. This represents a 6.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.90% of the company’s stock.

Terex Price Performance

NYSE:TEX opened at $60.63 on Wednesday. Terex Corporation has a 52-week low of $31.53 and a 52-week high of $71.50. The company has a market cap of $6.89 billion, a P/E ratio of 18.21, a P/E/G ratio of 1.20 and a beta of 1.62. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.36 and a current ratio of 2.30. The stock’s 50-day simple moving average is $63.03 and its 200 day simple moving average is $55.58.

Terex (NYSE:TEX) last issued its quarterly earnings results on Wednesday, February 11th. The industrial products company reported $1.12 EPS for the quarter, meeting the consensus estimate of $1.12. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Terex had a return on equity of 16.51% and a net margin of 4.08%.The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 earnings per share. Terex has set its FY 2026 guidance at 4.500-5.00 EPS. As a group, sell-side analysts forecast that Terex Corporation will post 4.83 EPS for the current fiscal year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Friday, March 6th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. Terex’s dividend payout ratio (DPR) is currently 20.42%.

Terex Company Profile

Terex Corporation is a global manufacturer of lifting and material-handling plant and equipment, serving a range of industries that includes construction, infrastructure, energy, manufacturing and shipping logistics. Its product portfolio encompasses aerial work platforms, rough terrain and tower cranes, port and cargo handling equipment, material processing machinery and utility products. These offerings are marketed under well-known brands such as Genie®, Terex® AWP, Terex® Cranes, Demag®, and Powerscreen®, and are designed to meet diverse application requirements from building sites to industrial facilities and ports.

Headquartered in Westport, Connecticut, Terex traces its roots back to 1933 and has grown through strategic acquisitions and organic expansion.