Timken’s (TKR) “Buy” Rating Reiterated at DA Davidson

DA Davidson restated their buy rating on shares of Timken (NYSE:TKR) in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a $103.00 price target on the industrial products company’s stock.

A number of other research firms also recently commented on TKR. Evercore ISI dropped their target price on shares of Timken from $94.00 to $87.00 and set an in-line rating on the stock in a research report on Monday, August 19th. KeyCorp increased their target price on shares of Timken from $95.00 to $104.00 and gave the company an overweight rating in a research report on Thursday, May 23rd. Finally, Raymond James started coverage on shares of Timken in a research report on Friday, June 28th. They issued a market perform rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Timken currently has an average rating of Hold and an average target price of $89.18.

Timken Price Performance

Timken stock opened at $84.15 on Tuesday. The firm has a market cap of $5.90 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.73 and a beta of 1.44. Timken has a 52-week low of $65.71 and a 52-week high of $94.71. The company has a quick ratio of 1.64, a current ratio of 2.95 and a debt-to-equity ratio of 0.72. The company’s 50 day moving average is $82.46 and its two-hundred day moving average is $84.52.

Timken (NYSE:TKR) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. Timken had a net margin of 7.52% and a return on equity of 16.36%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the firm posted $2.01 EPS. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. On average, research analysts expect that Timken will post 6.11 EPS for the current fiscal year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Tuesday, August 20th. Timken’s payout ratio is currently 25.90%.

Insiders Place Their Bets

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $80.46, for a total transaction of $2,413,800.00. Following the transaction, the chief executive officer now directly owns 244,485 shares of the company’s stock, valued at approximately $19,671,263.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.70% of the stock is currently owned by insiders.

Institutional Trading of Timken

Hedge funds have recently made changes to their positions in the company. Fidelis Capital Partners LLC acquired a new stake in shares of Timken in the 1st quarter worth $26,000. EverSource Wealth Advisors LLC lifted its stake in shares of Timken by 1,905.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 343 shares during the period. Versant Capital Management Inc acquired a new stake in shares of Timken in the 2nd quarter worth $30,000. Livelsberger Financial Advisory acquired a new stake in shares of Timken in the 4th quarter worth $30,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Timken in the 2nd quarter worth $44,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Company Profile

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.