Timken (NYSE:TKR) Upgraded to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Timken (NYSE:TKR) from an equal weight rating to an overweight rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports. Morgan Stanley currently has $93.00 target price on the industrial products company’s stock, up from their previous target price of $82.00.

Other equities analysts also recently issued reports about the company. Oppenheimer cut their price objective on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Citigroup upgraded shares of Timken from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $90.00 in a report on Monday, December 9th. Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and lifted their target price for the company from $80.00 to $95.00 in a report on Friday, December 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Finally, Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $87.00 to $91.00 in a research note on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $92.90.

Timken Stock Performance

Timken stock opened at $74.76 on Tuesday. The firm has a market capitalization of $5.24 billion, a P/E ratio of 15.54, a PEG ratio of 1.12 and a beta of 1.38. Timken has a 52 week low of $72.35 and a 52 week high of $94.71. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. The stock has a fifty day moving average price of $79.34 and a 200 day moving average price of $81.28.

Timken (NYSE:TKR) last announced 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). The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.55 EPS. Equities research analysts anticipate that Timken will post 5.61 earnings per share for the current year.

Timken Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were given a dividend of $0.34 per share. The ex-dividend date was Tuesday, November 19th. This represents a $1.36 annualized dividend and a dividend yield of 1.82%. Timken’s payout ratio is 28.27%.

Insider Activity at Timken

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the sale, the director now directly owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. This represents a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Timken

Institutional investors have recently modified their holdings of the business. Retirement Systems of Alabama grew its holdings in shares of Timken by 1.1% during the third quarter. Retirement Systems of Alabama now owns 176,643 shares of the industrial products company’s stock valued at $14,889,000 after purchasing an additional 1,869 shares during the last quarter. Franklin Resources Inc. lifted its stake in Timken by 0.5% in the third quarter. Franklin Resources Inc. now owns 41,373 shares of the industrial products company’s stock valued at $3,502,000 after buying an additional 222 shares during the last quarter. Synovus Financial Corp lifted its position in Timken by 5.4% in the 3rd quarter. Synovus Financial Corp now owns 8,286 shares of the industrial products company’s stock valued at $698,000 after purchasing an additional 423 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Timken during the 3rd quarter valued at about $172,000. Finally, World Investment Advisors LLC bought a new position in Timken in the 3rd quarter worth about $409,000. Institutional investors 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.