PNC Financial Services Group Inc. Sells 610 Shares of Terex Co. (NYSE:TEX)

PNC Financial Services Group Inc. lowered its position in Terex Co. (NYSE:TEXFree Report) by 9.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Terex during the fourth quarter valued at about $42,606,000. Greenhaven Associates Inc. grew its holdings in Terex by 101.5% during the fourth quarter. Greenhaven Associates Inc. now owns 1,456,700 shares of the industrial products company’s stock valued at $83,702,000 after purchasing an additional 733,690 shares during the period. Jupiter Asset Management Ltd. bought a new stake in Terex during the third quarter valued at about $36,672,000. American Century Companies Inc. grew its holdings in Terex by 94.6% during the third quarter. American Century Companies Inc. now owns 542,048 shares of the industrial products company’s stock valued at $31,233,000 after purchasing an additional 263,435 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in Terex by 1,231.8% during the third quarter. Lazard Asset Management LLC now owns 146,436 shares of the industrial products company’s stock valued at $8,437,000 after purchasing an additional 135,441 shares during the period. Institutional investors own 92.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Citigroup boosted their price target on Terex from $54.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, February 12th. JPMorgan Chase & Co. downgraded Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price objective on the stock. in a research report on Monday, March 18th. The Goldman Sachs Group boosted their price objective on Terex from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, February 13th. Evercore ISI lowered their price objective on Terex from $65.00 to $63.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 20th. Finally, UBS Group boosted their price objective on Terex from $62.00 to $64.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $65.33.

View Our Latest Research Report on Terex

Insider Buying and Selling at Terex

In other Terex news, 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 transaction of $200,818.00. Following the sale, the chief accounting officer now directly owns 14,606 shares in the company, valued at $905,572. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, 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 transaction of $200,818.00. Following the transaction, the chief accounting officer now owns 14,606 shares of the company’s stock, valued at $905,572. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Scott Posner sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $60.48, for a total value of $756,000.00. Following the transaction, the vice president now directly owns 58,224 shares in the company, valued at approximately $3,521,387.52. The disclosure for this sale can be found here. Insiders have sold a total of 146,968 shares of company stock worth $9,014,482 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Terex Trading Down 2.2 %

Shares of TEX stock opened at $56.01 on Wednesday. Terex Co. has a 1 year low of $43.70 and a 1 year high of $65.89. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.16 and a quick ratio of 1.06. The stock’s 50 day simple moving average is $61.24 and its two-hundred day simple moving average is $58.36. The company has a market cap of $3.77 billion, a PE ratio of 7.42 and a beta of 1.61.

Terex (NYSE:TEXGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.23. Terex had a return on equity of 30.53% and a net margin of 9.87%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.23 billion. Research analysts predict that Terex Co. will post 7.09 earnings per share for the current year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be given a dividend of $0.17 per share. The ex-dividend date is Thursday, June 6th. This represents a $0.68 dividend on an annualized basis and a yield of 1.21%. Terex’s dividend payout ratio (DPR) is presently 9.01%.

Terex Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Terex (NYSE:TEX)

Receive News & Ratings for Terex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex and related companies with MarketBeat.com's FREE daily email newsletter.