Timken (NYSE:TKR) had its price target cut by equities research analysts at Stifel Nicolaus from $53.00 to $52.00 in a report released on Thursday, Marketbeat reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ target price points to a potential upside of 16.99% from the stock’s previous close.
A number of other equities research analysts have also issued reports on the company. Zacks Investment Research raised Timken from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Tuesday, February 6th. Jefferies Group raised Timken from a “hold” rating to a “buy” rating in a research note on Thursday, January 18th. Finally, Longbow Research raised Timken from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $52.25.
Shares of Timken (NYSE:TKR) traded up $0.50 during mid-day trading on Thursday, hitting $44.45. The company had a trading volume of 1,285,019 shares, compared to its average volume of 885,637. Timken has a 52-week low of $41.78 and a 52-week high of $55.65. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.23 and a quick ratio of 1.38. The company has a market cap of $3,450.08, a price-to-earnings ratio of 16.97, a P/E/G ratio of 1.18 and a beta of 1.44.
In other Timken news, insider Richard G. Kyle sold 9,242 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $49.75, for a total transaction of $459,789.50. Following the transaction, the insider now directly owns 89,236 shares in the company, valued at approximately $4,439,491. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 11.08% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TKR. Wells Fargo & Company MN increased its holdings in Timken by 116.9% during the 4th quarter. Wells Fargo & Company MN now owns 945,600 shares of the industrial products company’s stock worth $46,477,000 after purchasing an additional 509,673 shares during the period. Koch Industries Inc. purchased a new position in Timken during the 2nd quarter worth $375,000. Renaissance Technologies LLC purchased a new position in Timken during the 2nd quarter worth $17,219,000. Anchor Bolt Capital LP increased its holdings in Timken by 155.5% during the 3rd quarter. Anchor Bolt Capital LP now owns 425,625 shares of the industrial products company’s stock worth $20,664,000 after purchasing an additional 259,028 shares during the period. Finally, Lord Abbett & CO. LLC increased its holdings in Timken by 20.6% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,350,766 shares of the industrial products company’s stock worth $62,473,000 after purchasing an additional 230,730 shares during the period. Institutional investors own 79.33% of the company’s stock.
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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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