The Timken Company (NYSE:TKR) to Issue Quarterly Dividend of $0.34

The Timken Company (NYSE:TKR) declared a quarterly dividend on Friday, February 14th,RTT News reports. Investors of record on Tuesday, February 25th will be given a dividend of 0.34 per share by the industrial products company on Friday, March 7th. This represents a $1.36 annualized dividend and a yield of 1.64%.

Timken has raised its dividend payment by an average of 4.3% per year over the last three years and has increased its dividend annually for the last 11 consecutive years. Timken has a dividend payout ratio of 20.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Timken to earn $6.95 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 19.6%.

Timken Trading Down 0.0 %

TKR opened at $83.09 on Friday. The firm has a market cap of $5.83 billion, a P/E ratio of 16.65, a P/E/G ratio of 1.21 and a beta of 1.39. 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 50-day moving average of $76.01 and a 200 day moving average of $79.36.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts forecast that Timken will post 5.6 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. KeyCorp restated a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Bank of America upgraded 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 research report on Tuesday, February 4th. Morgan Stanley boosted their target price on Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday. DA Davidson lowered their price target on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Jefferies Financial Group upgraded Timken from a “hold” rating to a “buy” rating and boosted their price target for the company from $80.00 to $95.00 in a report on Friday, December 6th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Timken presently has an average rating of “Moderate Buy” and an average price target of $91.60.

Insider Buying and Selling

In related news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the completion of the transaction, the chief financial officer now owns 90,541 shares of the company’s stock, valued at $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 8.70% of the stock is currently owned by insiders.

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.