Zacks Investment Research cut shares of Timken Company (The) (NYSE:TKR) from a buy rating to a hold rating in a report released on Tuesday, October 31st.
According to Zacks, “The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain and related products, and offers a spectrum of powertrain rebuild and repair services. The leading authority on tapered roller bearings, Timken today applies its deep knowledge of metallurgy, tribology and mechanical power transmission across a variety of bearings and related systems to improve reliability and efficiency of machinery and equipment all around the world. The company’s growing product and services portfolio features many strong industrial brands including Timken, Fafnir, Philadelphia Gear, Carlisle, Drives and Interlube. “
TKR has been the topic of several other reports. BidaskClub lowered Timken Company (The) from a sell rating to a strong sell rating in a research report on Friday, August 18th. Goldman Sachs Group, Inc. (The) lowered Timken Company (The) from a conviction-buy rating to a buy rating and dropped their price target for the company from $55.00 to $51.00 in a research report on Monday, August 7th. Jefferies Group LLC restated a hold rating and set a $45.00 price target on shares of Timken Company (The) in a research report on Friday, July 14th. Finally, ValuEngine lowered Timken Company (The) from a buy rating to a hold rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $52.00.
Shares of Timken Company (TKR) traded up $0.05 during mid-day trading on Tuesday, hitting $46.00. The stock had a trading volume of 501,844 shares, compared to its average volume of 706,667. The company has a market cap of $3,570.39, a price-to-earnings ratio of 19.09, a P/E/G ratio of 1.52 and a beta of 1.46. Timken Company has a 12-month low of $37.90 and a 12-month high of $53.10. The company has a current ratio of 2.59, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66.
Timken Company (The) (NYSE:TKR) last issued its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. The firm had revenue of $771.40 million for the quarter, compared to analyst estimates of $758.91 million. Timken Company (The) had a return on equity of 13.75% and a net margin of 6.88%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. research analysts forecast that Timken Company will post 2.62 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Thursday, November 16th. Timken Company (The)’s dividend payout ratio is currently 43.03%.
A number of institutional investors have recently bought and sold shares of TKR. Advisor Group Inc. increased its position in Timken Company (The) by 19.7% during the second quarter. Advisor Group Inc. now owns 4,051 shares of the industrial products company’s stock valued at $187,000 after acquiring an additional 666 shares during the last quarter. US Bancorp DE increased its position in Timken Company (The) by 10.1% during the second quarter. US Bancorp DE now owns 4,262 shares of the industrial products company’s stock valued at $197,000 after acquiring an additional 390 shares during the last quarter. Calamos Advisors LLC purchased a new stake in Timken Company (The) during the second quarter valued at $210,000. Janus Henderson Group PLC bought a new stake in Timken Company (The) during the second quarter valued at about $215,000. Finally, United Capital Financial Advisers LLC bought a new stake in Timken Company (The) during the first quarter valued at about $220,000. Institutional investors own 79.01% of the company’s stock.
Timken Company (The) Company Profile
The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.
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