Timken (NYSE:TKR) Upgraded at Bank of America

Bank of America upgraded shares of Timken (NYSE:TKR) from a neutral rating to a buy rating in a research report report published on Tuesday, Marketbeat Ratings reports. They currently have $135.00 target price on the industrial products company’s stock, up from their prior target price of $129.00.

TKR has been the topic of several other research reports. Oppenheimer lifted their target price on Timken from $147.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Evercore reissued an “outperform” rating and issued a $158.00 price target on shares of Timken in a research note on Monday, May 11th. Citigroup raised their price target on Timken from $140.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. DA Davidson set a $130.00 price objective on shares of Timken in a research note on Friday, August 14th. Finally, KeyCorp upped their price objective on shares of Timken from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $145.50.

Timken Price Performance

Shares of NYSE:TKR opened at $121.10 on Tuesday. The firm’s 50 day moving average is $133.41 and its two-hundred day moving average is $120.65. The firm has a market capitalization of $8.39 billion, a P/E ratio of 32.82, a PEG ratio of 1.33 and a beta of 1.21. The company has a current ratio of 3.10, a quick ratio of 1.74 and a debt-to-equity ratio of 0.61. Timken has a 52 week low of $70.57 and a 52 week high of $146.37.

Timken (NYSE:TKR) last issued its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.21. Timken had a return on equity of 12.63% and a net margin of 5.43%.The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the firm posted $1.12 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis. Timken has set its FY 2026 guidance at 6.050-6.350 EPS. Analysts anticipate that Timken will post 6.26 earnings per share for the current year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Tuesday, August 18th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $1.44 annualized dividend and a yield of 1.2%. Timken’s payout ratio is presently 39.02%.

Insiders Place Their Bets

In other Timken news, Director Richard Kyle sold 13,637 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $126.63, for a total value of $1,726,853.31. Following the completion of the sale, the director directly owned 183,724 shares in the company, valued at $23,264,970.12. This represents a 6.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.10% of the stock is owned by company insiders.

Institutional Trading of Timken

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allworth Financial LP bought a new position in Timken during the second quarter valued at about $37,000. Elevation Wealth Partners LLC raised its position in Timken by 420.0% in the second quarter. Elevation Wealth Partners LLC now owns 260 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 210 shares in the last quarter. Trust Co. of Vermont bought a new stake in Timken in the second quarter worth about $41,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Timken in the 4th quarter valued at about $25,000. Finally, Clearstead Advisors LLC boosted its position in shares of Timken by 130.3% during the 4th quarter. Clearstead Advisors LLC now owns 304 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 172 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Timken Company Profile

The Timken Company is a global manufacturer specializing in engineered bearings and mechanical power transmission products. Its core offerings include tapered and cylindrical roller bearings, spherical and plain bearings, mounted bearing units, and precision gear drives. Timken’s products serve a broad range of industries, from industrial machinery and aerospace to automotive, rail, wind energy and heavy equipment.

Beyond bearings, Timken’s portfolio extends to industrial chains, belts, couplings and related components designed to optimize power transmission systems.