Timken (NYSE:TKR) Receives New Coverage from Analysts at Raymond James

Raymond James assumed coverage on shares of Timken (NYSE:TKR) in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm issued a market perform rating on the industrial products company’s stock.

Several other equities analysts have also recently issued reports on TKR. Stifel Nicolaus lifted their price target on Timken from $92.00 to $100.00 and gave the company a buy rating in a research report on Wednesday, May 1st. Oppenheimer reaffirmed an outperform rating and set a $100.00 target price (up from $97.00) on shares of Timken in a report on Thursday, March 21st. Loop Capital raised their price objective on shares of Timken from $78.00 to $87.00 and gave the company a hold rating in a research report on Wednesday, May 1st. Finally, KeyCorp boosted their target price on shares of Timken from $95.00 to $104.00 and gave the stock an overweight rating in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Timken presently has a consensus rating of Hold and a consensus target price of $87.91.

Timken Trading Up 0.3 %

NYSE:TKR opened at $80.13 on Friday. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.70 and a beta of 1.50. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.02 and a current ratio of 1.87. Timken has a 1 year low of $65.71 and a 1 year high of $95.08. The business has a fifty day moving average of $86.20 and a 200-day moving average of $83.84.

Timken (NYSE:TKR) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.15 billion. Timken had a net margin of 7.99% and a return on equity of 17.98%. Timken’s revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.09 EPS. Equities analysts predict that Timken will post 6.2 earnings per share for the current year.

Timken Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Monday, May 13th. This is an increase from Timken’s previous quarterly dividend of $0.33. Timken’s dividend payout ratio is 25.90%.

Insiders Place Their Bets

In other news, EVP Christopher A. Coughlin sold 29,006 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $89.30, for a total value of $2,590,235.80. Following the completion of the sale, the executive vice president now owns 84,995 shares in the company, valued at $7,590,053.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Richard G. Kyle sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the transaction, the chief executive officer now directly owns 366,799 shares of the company’s stock, valued at $32,678,122.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christopher A. Coughlin sold 29,006 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the completion of the sale, the executive vice president now owns 84,995 shares of the company’s stock, valued at approximately $7,590,053.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,006 shares of company stock worth $5,269,636. Corporate insiders own 8.70% of the company’s stock.

Institutional Trading of Timken

Institutional investors have recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC acquired a new stake in shares of Timken in the first quarter worth about $26,000. Livelsberger Financial Advisory acquired a new stake in Timken in the 4th quarter worth approximately $30,000. EverSource Wealth Advisors LLC boosted 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 purchasing an additional 343 shares during the period. GAMMA Investing LLC acquired a new position in Timken during the fourth quarter valued at approximately $35,000. Finally, Manchester Capital Management LLC raised its position in shares of Timken by 51.3% in the first quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 205 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

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.