Timken (NYSE:TKR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Timken (NYSE:TKR) from a hold rating to a buy rating in a research report report published on Saturday,Wall Street Zen reports.

Several other equities research analysts have also issued reports on the company. KeyCorp lifted their price objective on Timken from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. DA Davidson set a $130.00 target price on Timken in a research note on Friday, August 14th. Oppenheimer restated an “outperform” rating and issued a $150.00 target price on shares of Timken in a research note on Thursday, October 1st. Weiss Ratings raised Timken from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 20th. Finally, JPMorgan Chase & Co. lifted their price target on Timken from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Timken currently has an average rating of “Moderate Buy” and a consensus price target of $145.00.

Timken Stock Up 2.5%

Shares of NYSE:TKR opened at $113.65 on Friday. The firm has a fifty day moving average price of $116.94 and a two-hundred day moving average price of $117.17. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.10 and a quick ratio of 1.74. Timken has a one year low of $73.62 and a one year high of $146.37. The company has a market cap of $7.88 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 1.26 and a beta of 1.18.

Timken (NYSE:TKR) last released its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.21. Timken had a net margin of 5.43% and a return on equity of 12.63%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the business earned $1.12 EPS. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. Analysts anticipate that Timken will post 6.25 EPS for the current fiscal year.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Tuesday, August 18th were given a dividend of $0.36 per share. The ex-dividend date was Tuesday, August 18th. This represents a $1.44 dividend on an annualized basis and a yield of 1.3%. Timken’s dividend payout ratio (DPR) is presently 39.02%.

Insider Transactions at Timken

In other news, Director Richard Kyle sold 13,637 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $126.63, for a total value of $1,726,853.31. Following the completion of the transaction, the director directly owned 183,724 shares in the company, valued at approximately $23,264,970.12. This represents a 6.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Timken

A number of large investors have recently modified their holdings of the company. North Dakota State Investment Board lifted its position in Timken by 6.0% in the third quarter. North Dakota State Investment Board now owns 1,972 shares of the industrial products company’s stock valued at $230,000 after purchasing an additional 112 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Timken by 4.1% during the first quarter. Parallel Advisors LLC now owns 2,970 shares of the industrial products company’s stock valued at $299,000 after purchasing an additional 116 shares during the period. Sheets Smith Wealth Management grew its holdings in shares of Timken by 2.2% in the second quarter. Sheets Smith Wealth Management now owns 6,079 shares of the industrial products company’s stock worth $883,000 after purchasing an additional 128 shares during the last quarter. Parvin Asset Management LLC grew its holdings in shares of Timken by 16.5% in the first quarter. Parvin Asset Management LLC now owns 920 shares of the industrial products company’s stock worth $93,000 after purchasing an additional 130 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its stake in shares of Timken by 5.9% in the third quarter. Fifth Third Wealth Advisors LLC now owns 2,669 shares of the industrial products company’s stock worth $312,000 after buying an additional 148 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

About Timken

Timken is an industrial manufacturer that designs and produces engineered bearings and power transmission products. Its offerings include tapered and spherical roller bearings, precision bearings, seals, lubrication systems, gears, belts, chains, couplings, and other components used to manage friction, motion, and power transmission.

The company serves customers across a range of industries, including industrial machinery, renewable energy, transportation, aerospace, defense, agriculture, construction, and energy.