Timken (NYSE:TKR) Price Target Raised to $102.00

Timken (NYSE:TKR) had its target price raised by Evercore ISI from $91.00 to $102.00 in a report released on Wednesday,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

A number of other research firms have also recently weighed in on TKR. KeyCorp reissued a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Citigroup cut their price target on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Morgan Stanley boosted their price target on Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $73.00 to $78.00 in a report on Tuesday, February 4th. Finally, DA Davidson dropped their target price on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Timken currently has an average rating of “Moderate Buy” and an average price target of $92.70.

Timken Stock Performance

Shares of TKR stock opened at $81.26 on Wednesday. The stock has a fifty day moving average price of $76.61 and a 200 day moving average price of $79.33. The stock has a market cap of $5.70 billion, a PE ratio of 16.28, a P/E/G ratio of 1.50 and a beta of 1.39. Timken has a 1 year low of $69.35 and a 1 year high of $94.71. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07.

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%. Sell-side analysts forecast that Timken will post 5.62 earnings per share for the current fiscal year.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Tuesday, February 25th. Timken’s dividend payout ratio (DPR) is presently 27.25%.

Insider Buying and Selling at Timken

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

Institutional Investors Weigh In On Timken

Large investors have recently modified their holdings of the stock. Coastline Trust Co acquired a new stake in shares of Timken in the third quarter valued at about $29,000. Fairway Wealth LLC acquired a new stake in shares of Timken in the fourth quarter valued at about $29,000. Amundi grew its stake in shares of Timken by 25.8% in the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after buying an additional 174 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Timken in the third quarter valued at about $74,000. Finally, Parvin Asset Management LLC acquired a new stake in shares of Timken in the fourth quarter valued at about $66,000. Institutional investors and hedge funds 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.