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

by · The Cerbat Gem

Timken (NYSE:TKRFree Report) had its price target upped by Oppenheimer from $90.00 to $104.00 in a research note released on Monday, Marketbeat.com reports. The firm currently has an outperform rating on the industrial products company’s stock.

A number of other equities research analysts have also recently issued reports on TKR. JPMorgan Chase & Co. boosted their target price on shares of Timken from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Wall Street Zen upgraded Timken from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. DA Davidson raised their target price on Timken from $80.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Citigroup upped their price target on Timken from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $88.00 price objective on shares of Timken in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $85.30.

Read Our Latest Report on TKR

Timken Trading Down 0.5%

Shares of Timken stock opened at $93.40 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.71 and a current ratio of 3.11. The stock has a market capitalization of $6.51 billion, a P/E ratio of 22.08, a P/E/G ratio of 1.83 and a beta of 1.21. Timken has a 52-week low of $56.20 and a 52-week high of $95.19. The stock’s 50-day simple moving average is $86.78 and its 200 day simple moving average is $80.33.

Timken (NYSE:TKRGet Free Report) last posted its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.12. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.12 billion. Timken had a net margin of 6.54% and a return on equity of 11.88%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.23 earnings per share. As a group, research analysts anticipate that Timken will post 5.62 EPS for the current year.

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Tuesday, November 25th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, November 25th. Timken’s dividend payout ratio is 33.10%.

Insiders Place Their Bets

In related news, Director Richard G. Kyle sold 15,837 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $81.03, for a total value of $1,283,272.11. Following the sale, the director directly owned 266,942 shares of the company’s stock, valued at $21,630,310.26. This trade represents a 5.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Timken

Institutional investors have recently made changes to their positions in the stock. Highland Capital Management LLC boosted its position in Timken by 39.7% during the second quarter. Highland Capital Management LLC now owns 59,260 shares of the industrial products company’s stock valued at $4,299,000 after buying an additional 16,840 shares during the period. Deprince Race & Zollo Inc. bought a new stake in shares of Timken in the 3rd quarter valued at about $22,624,000. Sequoia Financial Advisors LLC bought a new stake in shares of Timken in the 2nd quarter valued at about $387,000. American Century Companies Inc. boosted its holdings in Timken by 13.4% during the 2nd quarter. American Century Companies Inc. now owns 3,845,175 shares of the industrial products company’s stock valued at $278,968,000 after acquiring an additional 455,050 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in Timken by 5.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 466,499 shares of the industrial products company’s stock worth $35,071,000 after acquiring an additional 25,235 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

Timken Company Profile

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The Timken Company is a global manufacturer specializing in engineered bearings and mechanical power transmission products. Its core offerings include tapered and cylindrical roller bearings, spherical and plain bearings, mounted bearing units, and precision gear drives. Timken’s products serve a broad range of industries, from industrial machinery and aerospace to automotive, rail, wind energy and heavy equipment.

Beyond bearings, Timken’s portfolio extends to industrial chains, belts, couplings and related components designed to optimize power transmission systems.

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