Timken Company (The) (NYSE:TKR) Receives Average Rating of “Hold” from Brokerages

Shares of Timken Company (The) (NYSE:TKR) have received an average rating of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $85.30.

A number of research firms have recently commented on TKR. JPMorgan Chase & Co. boosted their price target on Timken from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Citigroup lifted their target price on Timken from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Wall Street Zen raised Timken from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. DA Davidson raised their price target on shares of Timken from $80.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $88.00 price target on shares of Timken in a research note on Thursday, October 30th.

Timken Stock Performance

NYSE TKR opened at $93.40 on Thursday. The firm’s 50 day simple moving average is $86.78 and its 200 day simple moving average is $80.33. The firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 1.83 and a beta of 1.21. The company has a current ratio of 3.11, a quick ratio of 1.71 and a debt-to-equity ratio of 0.63. Timken has a 1 year low of $56.20 and a 1 year high of $95.19.

Timken (NYSE:TKR) last released its earnings results on Wednesday, October 29th. The industrial products company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.12. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Timken had a return on equity of 11.88% and a net margin of 6.54%.The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.23 earnings per share. As a group, research analysts expect that Timken will post 5.62 earnings per share for the current fiscal year.

Timken Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Tuesday, November 25th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, November 25th. Timken’s payout ratio is presently 33.10%.

Insider Activity

In other news, Director Richard G. Kyle sold 15,837 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $81.03, for a total value of $1,283,272.11. Following the completion of the transaction, the director directly owned 266,942 shares in the company, valued at approximately $21,630,310.26. This represents a 5.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.37% of the company’s stock.

Hedge Funds Weigh In On Timken

A number of institutional investors and hedge funds have recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in shares of Timken by 13.4% during the second quarter. American Century Companies Inc. now owns 3,845,175 shares of the industrial products company’s stock valued at $278,968,000 after purchasing an additional 455,050 shares in the last quarter. UBS Group AG raised its holdings in Timken by 734.7% in the 3rd quarter. UBS Group AG now owns 2,286,250 shares of the industrial products company’s stock valued at $171,880,000 after buying an additional 2,012,352 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Timken by 34.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,493,167 shares of the industrial products company’s stock worth $112,256,000 after buying an additional 385,389 shares during the period. Cooke & Bieler LP grew its holdings in Timken by 28.6% during the 3rd quarter. Cooke & Bieler LP now owns 1,423,361 shares of the industrial products company’s stock worth $107,008,000 after acquiring an additional 316,380 shares during the last quarter. Finally, Invesco Ltd. increased its position in Timken by 124.5% in the 3rd quarter. Invesco Ltd. now owns 1,358,154 shares of the industrial products company’s stock valued at $102,106,000 after acquiring an additional 753,275 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Company Profile

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.