Timken (NYSE:TKR) Upgraded at Bank of America

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

A number of other research analysts also recently commented on TKR. Morgan Stanley upgraded Timken from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $82.00 to $93.00 in a research note on Tuesday, December 17th. KeyCorp restated a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Oppenheimer cut their price target on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and increased their target price for the company from $87.00 to $91.00 in a research report on Wednesday, November 13th. Finally, DA Davidson decreased their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Timken has a consensus rating of “Moderate Buy” and a consensus target price of $92.40.

Timken Stock Up 2.2 %

NYSE:TKR traded up $1.71 during trading hours on Tuesday, hitting $78.95. The stock had a trading volume of 147,557 shares, compared to its average volume of 590,006. The company has a market cap of $5.54 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 1.04 and a beta of 1.39. The business has a 50 day simple moving average of $75.15 and a two-hundred day simple moving average of $79.42. Timken has a 1-year low of $69.35 and a 1-year high of $94.71. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71.

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). The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 earnings per share. Analysts predict that Timken will post 5.61 EPS for the current year.

Insider Activity

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Timken

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TKR. First Horizon Advisors Inc. grew its position 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 worth $141,000 after purchasing an additional 158 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of Timken by 1.6% in the fourth quarter. New York State Common Retirement Fund now owns 203,827 shares of the industrial products company’s stock valued at $14,547,000 after buying an additional 3,116 shares during the period. Kornitzer Capital Management Inc. KS grew its position in Timken by 66.8% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 6,890 shares of the industrial products company’s stock worth $492,000 after buying an additional 2,760 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Timken by 1.3% during the fourth quarter. Sanctuary Advisors LLC now owns 18,922 shares of the industrial products company’s stock valued at $1,350,000 after acquiring an additional 250 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Timken by 4.0% in the 4th quarter. Principal Financial Group Inc. now owns 783,560 shares of the industrial products company’s stock valued at $55,928,000 after acquiring an additional 30,411 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.