Timken (NYSE:TKR) Price Target Raised to $102.00

Timken (NYSE:TKR) had its target price upped by Evercore ISI from $91.00 to $102.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

A number of other equities analysts have also recently commented on the company. Oppenheimer lowered their target price on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Morgan Stanley raised their target price on Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and increased their price target for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Jefferies Financial Group raised Timken from a “hold” rating to a “buy” rating and increased their price target for the company from $80.00 to $95.00 in a research report on Friday, December 6th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $92.70.

Timken Stock Down 3.0 %

NYSE TKR opened at $81.26 on Wednesday. The business has a fifty day moving average price of $76.61 and a 200 day moving average price of $79.33. Timken has a one year low of $69.35 and a one year high of $94.71. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The company has a market cap of $5.70 billion, a P/E ratio of 16.28, a P/E/G ratio of 1.50 and a beta of 1.39.

Timken (NYSE:TKR) last issued 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%. Research analysts anticipate that Timken will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $1.36 annualized dividend and a dividend yield of 1.67%. Timken’s dividend payout ratio (DPR) is currently 27.25%.

Insider Buying and Selling at Timken

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $81.50, for a total value of $407,500.00. Following the transaction, the chief financial officer now directly owns 90,541 shares in the company, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Coastline Trust Co purchased a new position in shares of Timken in the 3rd quarter valued at approximately $29,000. Fairway Wealth LLC purchased a new stake in shares of Timken in the fourth quarter valued at approximately $29,000. Amundi boosted its stake in shares of Timken by 25.8% in the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after buying an additional 174 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Timken in the third quarter valued at approximately $74,000. Finally, Parvin Asset Management LLC purchased a new stake in shares of Timken in the fourth quarter valued at approximately $66,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

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.