Analysts Set The Timken Company (NYSE:TKR) Price Target at $90.00

Shares of The Timken Company (NYSE:TKR) have been assigned a consensus recommendation of “Hold” from the eleven research firms that are currently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $90.00.

TKR has been the topic of several recent analyst reports. Oppenheimer cut their price target on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. DA Davidson cut their price objective on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $87.00 to $91.00 in a research note on Wednesday, November 13th. Citigroup assumed coverage on Timken in a research note on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective on the stock. Finally, KeyCorp restated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd.

Insider Buying and Selling

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the completion of the transaction, the director now directly owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. This trade represents a 13.36 % decrease in their position. 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.

Hedge Funds Weigh In On Timken

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new position in Timken during the 2nd quarter valued at $4,363,000. Comerica Bank lifted its position in shares of Timken by 13.8% during the 1st quarter. Comerica Bank now owns 58,945 shares of the industrial products company’s stock valued at $5,154,000 after acquiring an additional 7,160 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Timken by 4.8% during the 2nd 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 during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Timken during the 3rd quarter valued at $2,863,000. Finally, Hsbc Holdings PLC lifted its position in shares of Timken by 102.5% during the 2nd quarter. Hsbc Holdings PLC now owns 12,186 shares of the industrial products company’s stock valued at $979,000 after acquiring an additional 6,167 shares during the last quarter. 89.08% of the stock is owned by institutional investors.

Timken Price Performance

Shares of NYSE TKR opened at $77.93 on Friday. Timken has a 1-year low of $72.35 and a 1-year high of $94.71. The business has a 50-day moving average of $80.96 and a 200-day moving average of $82.27. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 1.15 and a beta of 1.43.

Timken (NYSE:TKR) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a return on equity of 14.82% and a net margin of 7.41%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the firm posted $1.55 EPS. The company’s revenue was down 1.4% compared to the same quarter last year. On average, equities analysts anticipate that Timken will post 5.61 EPS for the current fiscal year.

Timken Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Tuesday, November 19th. Timken’s dividend payout ratio (DPR) is 28.27%.

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.