Timken Co (TKR) Receives Average Rating of “Buy” from Analysts
Timken Co (NYSE:TKR) has earned a consensus recommendation of “Buy” from the nine brokerages that are covering the company. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $44.38.
Several research firms recently commented on TKR. TheStreet raised shares of Timken from a “c” rating to a “b-” rating in a research report on Thursday, February 9th. Stifel Nicolaus boosted their price target on shares of Timken from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Zacks Investment Research raised shares of Timken from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Friday, January 20th. Goldman Sachs Group Inc raised shares of Timken from a “neutral” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Friday, January 27th. Finally, Jefferies Group LLC boosted their price target on shares of Timken to $45.00 in a research report on Monday, February 13th.
In other news, CFO Philip D. Fracassa sold 4,222 shares of the company’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $44.48, for a total value of $187,794.56. Following the sale, the chief financial officer now directly owns 40,538 shares of the company’s stock, valued at approximately $1,803,130.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP William R. Burkhart sold 32,580 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $47.94, for a total transaction of $1,561,885.20. Following the completion of the sale, the executive vice president now directly owns 55,640 shares in the company, valued at $2,667,381.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,322 shares of company stock worth $2,103,717. 10.30% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. BB&T Corp boosted its stake in shares of Timken by 0.4% in the third quarter. BB&T Corp now owns 205,638 shares of the industrial products company’s stock worth $7,226,000 after buying an additional 775 shares during the last quarter. Investment Partners Ltd. OH ADV purchased a new stake in shares of Timken during the third quarter worth about $439,000. BlackRock Advisors LLC boosted its stake in shares of Timken by 1.4% in the third quarter. BlackRock Advisors LLC now owns 39,456 shares of the industrial products company’s stock worth $1,386,000 after buying an additional 563 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Timken by 3.9% in the third quarter. Ameriprise Financial Inc. now owns 262,907 shares of the industrial products company’s stock worth $9,237,000 after buying an additional 9,839 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Timken by 0.9% in the third quarter. California State Teachers Retirement System now owns 154,450 shares of the industrial products company’s stock worth $5,427,000 after buying an additional 1,400 shares during the last quarter. 75.87% of the stock is currently owned by institutional investors.
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Shares of Timken (NYSE:TKR) traded down 1.18% during mid-day trading on Friday, hitting $45.95. The company had a trading volume of 1,546,282 shares. The firm’s 50-day moving average price is $46.12 and its 200 day moving average price is $42.80. The company has a market capitalization of $3.58 billion, a P/E ratio of 29.21 and a beta of 1.39. Timken has a one year low of $28.72 and a one year high of $51.75.
Timken (NYSE:TKR) last posted its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.43 by $0.12. The business had revenue of $703.80 million for the quarter, compared to analysts’ expectations of $649.70 million. Timken had a net margin of 5.72% and a return on equity of 11.56%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.46 EPS. Analysts predict that Timken will post $2.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Friday, May 19th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from Timken’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, May 17th. Timken’s dividend payout ratio is presently 54.17%.
The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.
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