The Timken (NYSE:TKR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain and related products, and offers a spectrum of powertrain rebuild and repair services. The leading authority on tapered roller bearings, Timken today applies its deep knowledge of metallurgy, tribology and mechanical power transmission across a variety of bearings and related systems to improve reliability and efficiency of machinery and equipment all around the world. The company’s growing product and services portfolio features many strong industrial brands including Timken, Fafnir, Philadelphia Gear, Carlisle, Drives and Interlube. “

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A number of other research analysts have also recently weighed in on TKR. Stifel Nicolaus reduced their target price on The Timken from $53.00 to $52.00 and set a “hold” rating on the stock in a report on Thursday, February 8th. Jefferies Group upgraded The Timken from a “hold” rating to a “buy” rating in a report on Thursday, January 18th. Finally, Longbow Research upgraded The Timken from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $52.25.

TKR stock opened at $45.85 on Wednesday. The Timken has a fifty-two week low of $41.78 and a fifty-two week high of $55.65. The firm has a market capitalization of $3,789.00, a price-to-earnings ratio of 17.84, a P/E/G ratio of 1.19 and a beta of 1.55. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.23 and a quick ratio of 1.13.

The Timken (NYSE:TKR) last issued its earnings results on Wednesday, February 7th. The industrial products company reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.01. The Timken had a return on equity of 14.55% and a net margin of 6.77%. The firm had revenue of $778.00 million for the quarter, compared to analysts’ expectations of $767.98 million. During the same quarter last year, the firm earned $0.47 earnings per share. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. equities analysts forecast that The Timken will post 3.55 EPS for the current fiscal year.

In other The Timken news, Director Jacqueline F. Woods sold 3,350 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $45.12, for a total transaction of $151,152.00. Following the transaction, the director now owns 15,878 shares in the company, valued at $716,415.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Richard G. Kyle sold 3,084 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $46.74, for a total value of $144,146.16. The disclosure for this sale can be found here. Insiders own 11.08% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. New Mexico Educational Retirement Board purchased a new stake in shares of The Timken during the fourth quarter worth about $834,000. American International Group Inc. increased its position in shares of The Timken by 0.9% during the fourth quarter. American International Group Inc. now owns 141,340 shares of the industrial products company’s stock worth $6,947,000 after acquiring an additional 1,200 shares during the last quarter. Virginia Retirement Systems ET AL increased its position in shares of The Timken by 16.8% during the third quarter. Virginia Retirement Systems ET AL now owns 52,100 shares of the industrial products company’s stock worth $2,529,000 after acquiring an additional 7,500 shares during the last quarter. Legal & General Group Plc increased its position in shares of The Timken by 5.9% during the third quarter. Legal & General Group Plc now owns 94,098 shares of the industrial products company’s stock worth $4,569,000 after acquiring an additional 5,219 shares during the last quarter. Finally, Bessemer Group Inc. purchased a new stake in shares of The Timken during the fourth quarter worth about $369,000. 79.45% of the stock is currently owned by institutional investors and hedge funds.

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The Timken Company Profile

The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.

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