Timken (NYSE:TKR) Coverage Initiated by Analysts at Citigroup

Citigroup initiated coverage on shares of Timken (NYSE:TKR) in a research note issued to investors on Monday, Marketbeat reports. The brokerage issued a neutral rating and a $90.00 price target on the industrial products company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Evercore ISI cut their price objective on shares of Timken from $94.00 to $87.00 and set an in-line rating for the company in a research report on Monday, August 19th. DA Davidson reissued a buy rating and set a $103.00 target price on shares of Timken in a research note on Tuesday, September 17th. Finally, Raymond James started coverage on Timken in a research note on Friday, June 28th. They set a market perform rating for the company. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Timken has an average rating of Hold and a consensus price target of $91.70.

Timken Trading Up 0.7 %

Shares of Timken stock opened at $84.67 on Monday. The firm has a 50-day moving average of $82.18 and a 200-day moving average of $84.15. The stock has a market cap of $5.96 billion, a PE ratio of 16.13, a PEG ratio of 1.77 and a beta of 1.43. Timken has a 52-week low of $65.71 and a 52-week high of $94.71. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.95.

Timken (NYSE:TKR) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.03. Timken had a net margin of 7.52% and a return on equity of 16.36%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the business posted $2.01 earnings per share. Timken’s revenue was down 7.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Timken will post 6.09 EPS for the current year.

Timken Announces Dividend

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

Insider Activity

In other news, CEO Richard G. Kyle sold 30,000 shares of the company’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 transaction, the chief executive officer now owns 244,485 shares of the company’s stock, valued at $19,671,263.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 8.70% of the stock is currently owned by insiders.

Institutional Trading of Timken

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nomura Holdings Inc. bought a new position in shares of Timken during the 4th quarter worth approximately $1,667,000. CWM LLC boosted its holdings in shares of Timken by 45.7% during the 1st quarter. CWM LLC now owns 1,297 shares of the industrial products company’s stock worth $113,000 after buying an additional 407 shares in the last quarter. Global Assets Advisory LLC bought a new position in shares of Timken during the 1st quarter worth approximately $1,989,000. Hennessy Advisors Inc. boosted its holdings in shares of Timken by 43.8% during the 1st quarter. Hennessy Advisors Inc. now owns 51,900 shares of the industrial products company’s stock worth $4,538,000 after buying an additional 15,800 shares in the last quarter. Finally, Baker Ellis Asset Management LLC bought a new position in shares of Timken during the 1st quarter worth approximately $4,239,000. 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.