Timken (NYSE:TKR) Price Target Raised to $94.00 at Morgan Stanley

Timken (NYSE:TKR) had its price target increased by Morgan Stanley from $93.00 to $94.00 in a report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

Several other research firms also recently weighed in on TKR. Citigroup lowered their target price on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Oppenheimer dropped their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and increased their target price for the stock from $80.00 to $95.00 in a research note on Friday, December 6th. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $87.00 to $91.00 in a research report on Wednesday, November 13th. Finally, Bank of America raised Timken from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $73.00 to $78.00 in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Timken currently has an average rating of “Moderate Buy” and a consensus price target of $91.60.

Timken Trading Up 0.8 %

Shares of Timken stock opened at $82.19 on Tuesday. The company has a fifty day simple moving average of $75.64 and a 200-day simple moving average of $79.33. Timken has a 12-month low of $69.35 and a 12-month high of $94.71. The company has a current ratio of 3.07, a quick ratio of 1.62 and a debt-to-equity ratio of 0.69. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.21 and a beta of 1.39.

Timken (NYSE:TKR) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. On average, equities analysts forecast that Timken will post 5.6 EPS for the current fiscal year.

Insider Activity

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the transaction, the chief financial officer now owns 90,541 shares in the company, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Timken

A number of large investors have recently bought and sold shares of the stock. M&T Bank Corp grew its stake in Timken by 0.6% in the 3rd quarter. M&T Bank Corp now owns 24,482 shares of the industrial products company’s stock worth $2,064,000 after acquiring an additional 144 shares during the period. Beese Fulmer Investment Management Inc. increased its stake in Timken by 1.0% in the third quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company’s stock valued at $1,282,000 after purchasing an additional 155 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in Timken by 8.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company’s stock valued at $141,000 after buying an additional 158 shares during the period. Blue Trust Inc. increased its stake in shares of Timken by 20.0% during the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 166 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in Timken by 64.1% during the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 168 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Company Profile

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.