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

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. “

TKR has been the topic of a number of other reports. Goldman Sachs Group, Inc. (The) lowered shares of Timken Company (The) from a “conviction-buy” rating to a “buy” rating and dropped their price target for the stock from $55.00 to $51.00 in a research note on Monday, August 7th. BidaskClub lowered shares of Timken Company (The) from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Jefferies Group LLC reiterated a “hold” rating and set a $50.00 price target on shares of Timken Company (The) in a research note on Thursday, October 26th. Finally, ValuEngine lowered shares of Timken Company (The) from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $47.50.

Shares of Timken Company (NYSE TKR) opened at 47.00 on Tuesday. The stock’s 50 day moving average price is $48.74 and its 200-day moving average price is $46.71. Timken Company has a 52-week low of $31.60 and a 52-week high of $53.10. The firm has a market capitalization of $3.66 billion, a PE ratio of 23.33 and a beta of 1.41.

Timken Company (The) (NYSE:TKR) last issued its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. Timken Company (The) had a net margin of 6.88% and a return on equity of 13.75%. The business had revenue of $771.40 million for the quarter, compared to analyst estimates of $758.91 million. During the same period in the previous year, the business posted $0.53 earnings per share. The business’s revenue was up 17.3% compared to the same quarter last year. Equities research analysts anticipate that Timken Company will post $2.62 EPS for the current fiscal year.

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Institutional investors and hedge funds have recently modified their holdings of the business. Prudential Financial Inc. grew its position in Timken Company (The) by 144.9% during the second quarter. Prudential Financial Inc. now owns 566,928 shares of the industrial products company’s stock worth $26,220,000 after buying an additional 335,460 shares during the period. BB&T Corp grew its position in Timken Company (The) by 1.4% during the second quarter. BB&T Corp now owns 194,417 shares of the industrial products company’s stock worth $8,992,000 after buying an additional 2,632 shares during the period. Marshall Wace North America L.P. acquired a new position in Timken Company (The) during the second quarter worth about $1,205,000. Clinton Group Inc. acquired a new position in Timken Company (The) during the second quarter worth about $361,000. Finally, Keybank National Association OH grew its position in Timken Company (The) by 6.2% during the second quarter. Keybank National Association OH now owns 272,211 shares of the industrial products company’s stock worth $12,590,000 after buying an additional 15,920 shares during the period. Institutional investors own 79.59% of the company’s stock.

Timken Company (The) Company Profile

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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Analyst Recommendations for Timken Company (The) (NYSE:TKR)

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