KeyCorp Reaffirms Sector Weight Rating for Timken (NYSE:TKR)

KeyCorp restated their sector weight rating on shares of Timken (NYSE:TKR) in a research note issued to investors on Friday, Marketbeat reports.

A number of other analysts have also weighed in on TKR. Oppenheimer cut their price objective on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Evercore ISI raised shares of Timken from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $87.00 to $91.00 in a research report on Wednesday, November 13th. DA Davidson cut their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Citigroup assumed coverage on Timken in a research note on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective for the company. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Timken has an average rating of “Hold” and an average price target of $90.00.

Timken Stock Performance

Shares of Timken stock opened at $75.96 on Friday. Timken has a one year low of $71.57 and a one year high of $94.71. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The business’s 50 day moving average price is $81.45 and its 200 day moving average price is $82.80. The company has a market cap of $5.33 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.12 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 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, research analysts predict that Timken will post 5.61 EPS for the current year.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Tuesday, November 19th. Timken’s dividend payout ratio is currently 28.27%.

Insider Buying and Selling

In related news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction dated 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 sale, the director now owns 194,485 shares in the company, valued at approximately $14,895,606.15. This trade represents a 13.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Timken

A number of institutional investors have recently modified their holdings of TKR. Coastline Trust Co purchased a new position in shares of Timken during the 3rd quarter worth $29,000. Versant Capital Management Inc acquired a new position in Timken in the second quarter valued at $30,000. EverSource Wealth Advisors LLC lifted its position in Timken by 1,905.6% during the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after buying an additional 343 shares during the period. Livelsberger Financial Advisory acquired a new stake in Timken in the 3rd quarter worth about $32,000. Finally, UMB Bank n.a. grew its holdings in Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Company Profile

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.