Jennison Associates LLC Sells 2,369 Shares of Terex Co. (NYSE:TEX)

Jennison Associates LLC reduced its stake in Terex Co. (NYSE:TEX) by 9.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,770 shares of the industrial products company’s stock after selling 2,369 shares during the period. Jennison Associates LLC’s holdings in Terex were worth $1,308,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Greenwich Wealth Management LLC grew its stake in Terex by 0.3% in the 4th quarter. Greenwich Wealth Management LLC now owns 61,670 shares of the industrial products company’s stock worth $3,544,000 after acquiring an additional 209 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Terex by 6.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 26,700 shares of the industrial products company’s stock valued at $1,534,000 after purchasing an additional 1,500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Terex by 2.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,196 shares of the industrial products company’s stock valued at $931,000 after purchasing an additional 353 shares in the last quarter. Cornercap Investment Counsel Inc. boosted its stake in shares of Terex by 90.9% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 18,121 shares of the industrial products company’s stock valued at $1,041,000 after purchasing an additional 8,631 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in shares of Terex during the fourth quarter valued at approximately $1,086,000. 92.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Terex news, insider Kieran Hegarty sold 18,000 shares of Terex stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total value of $1,022,400.00. Following the completion of the transaction, the insider now owns 198,619 shares of the company’s stock, valued at $11,281,559.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Terex news, insider Kieran Hegarty sold 18,000 shares of Terex stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total value of $1,022,400.00. Following the completion of the transaction, the insider now owns 198,619 shares of the company’s stock, valued at $11,281,559.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John L. Garrison, Jr. sold 59,094 shares of Terex stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $60.07, for a total transaction of $3,549,776.58. Following the completion of the transaction, the chief executive officer now directly owns 380,834 shares of the company’s stock, valued at approximately $22,876,698.38. The disclosure for this sale can be found here. Insiders sold a total of 132,039 shares of company stock valued at $8,078,574 over the last 90 days. Insiders own 1.90% of the company’s stock.

Terex Trading Down 0.5 %

NYSE TEX opened at $59.59 on Friday. The company has a fifty day simple moving average of $60.06 and a two-hundred day simple moving average of $56.28. The stock has a market cap of $4.01 billion, a P/E ratio of 7.89, a P/E/G ratio of 0.59 and a beta of 1.64. Terex Co. has a 12-month low of $42.50 and a 12-month high of $65.89. The company has a current ratio of 2.01, a quick ratio of 0.95 and a debt-to-equity ratio of 0.37.

Terex (NYSE:TEX) last issued its 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 31.52%. 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 7.05 earnings per share for the current year.

Terex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Friday, March 8th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.68 annualized dividend and a dividend yield of 1.14%. Terex’s dividend payout ratio (DPR) is presently 9.01%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TEX. Evercore ISI dropped their price objective on shares of Terex from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 20th. Citigroup increased their price objective on shares of Terex from $54.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. UBS Group downgraded shares of Terex from a “buy” rating to a “neutral” rating and raised their target price for the company from $61.00 to $62.00 in a research note on Tuesday, February 13th. JPMorgan Chase & Co. downgraded shares of Terex from an “overweight” rating to a “neutral” rating and set a $63.00 target price for the company. in a research note on Monday, March 18th. Finally, Truist Financial initiated coverage on shares of Terex in a research note on Thursday, March 14th. They issued a “buy” rating and a $73.00 target price for the company. One 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.