Timken (NYSE:TKR) Research Coverage Started at Citigroup

Citigroup began coverage on shares of Timken (NYSE:TKR) in a research report sent to investors on Monday, Marketbeat.com reports. The firm issued a neutral rating and a $90.00 price objective on the industrial products company’s stock.

A number of other analysts also recently issued reports on TKR. DA Davidson reiterated a buy rating and set a $103.00 price target on shares of Timken in a research report on Tuesday, September 17th. Evercore ISI dropped their price target on Timken from $94.00 to $87.00 and set an in-line rating for the company in a research report on Monday, August 19th. Finally, Raymond James began coverage on Timken in a research report on Friday, June 28th. They set a market perform rating for the company. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $91.70.

Timken Stock Up 0.7 %

Shares of NYSE TKR opened at $84.67 on Monday. Timken has a 52 week low of $65.71 and a 52 week high of $94.71. The business has a 50-day simple moving average of $82.18 and a two-hundred day simple moving average of $84.15. The company has a quick ratio of 1.64, a current ratio of 2.95 and a debt-to-equity ratio of 0.72. The company has a market cap of $5.96 billion, a P/E ratio of 16.13, a P/E/G ratio of 1.77 and a beta of 1.43.

Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Timken had a return on equity of 16.36% and a net margin of 7.52%. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter last year, the company posted $2.01 EPS. Research analysts anticipate that Timken will post 6.09 earnings per share for the current fiscal year.

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were given a $0.34 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.36 annualized dividend and a yield of 1.61%. Timken’s payout ratio is currently 25.90%.

Insider Buying and Selling at Timken

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $80.46, for a total value of $2,413,800.00. Following the completion of the sale, the chief executive officer now owns 244,485 shares in the company, valued at approximately $19,671,263.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.70% of the company’s stock.

Institutional Trading of Timken

Several hedge funds and other institutional investors have recently bought and sold shares of TKR. Vanguard Group Inc. lifted its position in Timken by 5.6% in the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock valued at $569,691,000 after purchasing an additional 347,794 shares during the last quarter. Interval Partners LP bought a new position in shares of Timken during the first quarter valued at approximately $22,907,000. American Century Companies Inc. raised its holdings in shares of Timken by 4.8% during the second quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock valued at $225,750,000 after acquiring an additional 128,791 shares in the last quarter. Kodai Capital Management LP bought a new position in shares of Timken during the first quarter valued at approximately $9,130,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Timken by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock valued at $168,667,000 after acquiring an additional 97,550 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

About Timken

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.