Timken (NYSE:TKR) Stock Rating Upgraded by Bank of America

Timken (NYSE:TKR) was upgraded by analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research note issued on Tuesday,Finviz reports.

A number of other equities research analysts have also commented on the stock. Oppenheimer decreased their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. KeyCorp reissued a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Citigroup dropped their price objective on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Morgan Stanley raised Timken from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $82.00 to $93.00 in a research note on Tuesday, December 17th. Finally, DA Davidson cut their price target on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Timken has a consensus rating of “Moderate Buy” and an average price target of $92.40.

Timken Price Performance

Shares of NYSE:TKR traded up $1.71 during trading on Tuesday, reaching $78.95. The stock had a trading volume of 147,557 shares, compared to its average volume of 590,006. The stock has a market capitalization of $5.54 billion, a PE ratio of 16.45, a P/E/G ratio of 1.04 and a beta of 1.39. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. Timken has a 52 week low of $69.35 and a 52 week high of $94.71. The business’s 50-day moving average price is $75.15 and its 200 day moving average price is $79.42.

Timken (NYSE:TKR) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Timken had a return on equity of 14.82% and a net margin of 7.41%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the firm posted $1.55 EPS. Timken’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities analysts predict that Timken will post 5.61 earnings per share for the current year.

Insider Activity at Timken

In related news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the sale, the director now owns 194,485 shares in the company, valued at approximately $14,895,606.15. This represents a 13.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.70% of the stock is owned by corporate insiders.

Institutional Trading of Timken

A number of institutional investors have recently bought and sold shares of the business. Vestcor Inc bought a new stake in shares of Timken during the 3rd quarter worth approximately $560,000. TT International Asset Management LTD raised its position in Timken by 1,075.2% during the third quarter. TT International Asset Management LTD now owns 39,274 shares of the industrial products company’s stock valued at $3,310,000 after purchasing an additional 35,932 shares in the last quarter. Barclays PLC boosted its holdings in shares of Timken by 221.6% in the 3rd quarter. Barclays PLC now owns 86,667 shares of the industrial products company’s stock valued at $7,307,000 after purchasing an additional 59,716 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Timken in the 3rd quarter valued at $2,863,000. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Timken by 29.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company’s stock worth $4,327,000 after buying an additional 13,697 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

About Timken

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.