Timken Co. (TKR) Receives Consensus Rating of “Hold” from Analysts
Timken Co. (NYSE:TKR) has been given a consensus rating of “Hold” by the seven ratings firms that are presently covering the stock. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $33.40.
Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Timken from a “hold” rating to a “sell” rating in a research note on Saturday, July 9th. Avondale Partners upgraded shares of Timken from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a research note on Monday, July 11th.
Timken (NYSE:TKR) traded up 0.70% during mid-day trading on Tuesday, reaching $34.76. 231,639 shares of the company’s stock traded hands. Timken has a one year low of $22.22 and a one year high of $37.07. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 20.88 and a beta of 1.64. The firm’s 50-day moving average price is $33.87 and its 200 day moving average price is $33.36.
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Timken (NYSE:TKR) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.05. The business had revenue of $673.50 million for the quarter, compared to analysts’ expectations of $693.64 million. Timken had a net margin of 4.88% and a return on equity of 12.98%. The company’s revenue was down 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 EPS. On average, equities analysts forecast that Timken will post $1.92 EPS for the current year.
In other Timken news, CFO Philip D. Fracassa sold 2,229 shares of Timken stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $34.27, for a total value of $76,387.83. Following the sale, the chief financial officer now directly owns 30,784 shares in the company, valued at approximately $1,054,967.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William R. Burkhart sold 4,235 shares of Timken stock in a transaction on Monday, August 29th. The shares were sold at an average price of $34.37, for a total transaction of $145,556.95. Following the completion of the sale, the executive vice president now owns 40,607 shares in the company, valued at $1,395,662.59. The disclosure for this sale can be found here. 10.30% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. First Eagle Investment Management LLC increased its stake in shares of Timken by 0.3% in the second quarter. First Eagle Investment Management LLC now owns 6,087,860 shares of the company’s stock worth $186,654,000 after buying an additional 15,484 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Timken by 5.9% in the second quarter. Vanguard Group Inc. now owns 5,403,114 shares of the company’s stock worth $165,659,000 after buying an additional 300,893 shares in the last quarter. Southernsun Asset Management LLC increased its stake in shares of Timken by 5.3% in the first quarter. Southernsun Asset Management LLC now owns 5,296,043 shares of the company’s stock worth $177,364,000 after buying an additional 265,022 shares in the last quarter. Boston Partners increased its stake in shares of Timken by 5.3% in the second quarter. Boston Partners now owns 3,608,430 shares of the company’s stock worth $110,634,000 after buying an additional 182,983 shares in the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of Timken by 3.8% in the second quarter. BlackRock Fund Advisors now owns 2,410,629 shares of the company’s stock worth $73,910,000 after buying an additional 87,471 shares in the last quarter. Institutional investors own 75.95% of the company’s stock.
The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, chain and related products and offers a spectrum of power system rebuild and repair services around the world. The Company operates through two segments: Mobile Industries, which offers bearings, seals, lubrication devices and systems, as well as power transmission components, engineered chain, augers and related products and maintenance services, and Process Industries, which provides industrial bearings and assemblies, power transmission components such as gears and gearboxes, couplings, seals, lubricants, chains and related products and services.
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