Timken (NYSE:TKR) Price Target Raised to $104.00

Timken (NYSE:TKR) had its price objective raised by KeyCorp from $95.00 to $104.00 in a research note released on Thursday morning, Benzinga reports. KeyCorp currently has an overweight rating on the industrial products company’s stock.

Several other research analysts also recently weighed in on the company. Stifel Nicolaus boosted their target price on Timken from $92.00 to $100.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. StockNews.com downgraded Timken from a buy rating to a hold rating in a research note on Wednesday, February 21st. The Goldman Sachs Group boosted their target price on Timken from $78.00 to $87.00 and gave the stock a neutral rating in a research note on Tuesday, February 6th. Loop Capital boosted their price target on Timken from $78.00 to $87.00 and gave the company a hold rating in a research note on Wednesday, May 1st. Finally, Oppenheimer reiterated an outperform rating and set a $100.00 price target (up previously from $97.00) on shares of Timken in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $87.91.

Timken Trading Down 1.0 %

Shares of NYSE:TKR opened at $87.08 on Thursday. Timken has a 12-month low of $65.71 and a 12-month high of $95.08. The business’s fifty day simple moving average is $87.85 and its 200-day simple moving average is $82.26. The company has a market capitalization of $6.13 billion, a PE ratio of 16.59, a P/E/G ratio of 1.85 and a beta of 1.51. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 0.66.

Timken (NYSE:TKR) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. Timken had a return on equity of 17.98% and a net margin of 7.99%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the business posted $2.09 EPS. The business’s revenue was down 5.7% compared to the same quarter last year. As a group, equities research analysts predict that Timken will post 6.19 earnings per share for the current fiscal year.

Timken Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Monday, May 13th. This is a boost from Timken’s previous quarterly dividend of $0.33. Timken’s payout ratio is 25.90%.

Insider Activity

In other news, CEO Richard G. Kyle sold 20,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total value of $1,781,800.00. Following the completion of the transaction, the chief executive officer now owns 366,799 shares of the company’s stock, valued at approximately $32,678,122.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Richard G. Kyle sold 20,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total value of $1,781,800.00. Following the completion of the transaction, the chief executive officer now owns 366,799 shares of the company’s stock, valued at approximately $32,678,122.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christopher A. Coughlin sold 29,006 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $89.30, for a total value of $2,590,235.80. Following the completion of the transaction, the executive vice president now directly owns 84,995 shares of the company’s stock, valued at approximately $7,590,053.50. The disclosure for this sale can be found here. Insiders sold a total of 59,006 shares of company stock valued at $5,269,636 in the last quarter. 8.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Timken

A number of large investors have recently bought and sold shares of the business. Fidelis Capital Partners LLC acquired a new position in shares of Timken during the first quarter valued at approximately $26,000. Livelsberger Financial Advisory acquired a new position in shares of Timken during the fourth quarter valued at approximately $30,000. GAMMA Investing LLC acquired a new position in shares of Timken during the fourth quarter valued at approximately $35,000. Manchester Capital Management LLC raised its holdings in shares of Timken by 51.3% during the first quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 205 shares during the last quarter. Finally, Anchor Investment Management LLC purchased a new stake in shares of Timken in the fourth quarter valued at approximately $58,000. 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.