Evercore ISI Issues Positive Forecast for Timken (NYSE:TKR) Stock Price

Timken (NYSE:TKR) had its target price upped by Evercore ISI from $91.00 to $102.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

Other research analysts have also issued research reports about the company. Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Citigroup cut their price objective on Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Morgan Stanley increased their target price on Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and boosted their target price for the company from $80.00 to $95.00 in a research note on Friday, December 6th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.70.

Timken Price Performance

TKR stock opened at $83.25 on Wednesday. The company has a market capitalization of $5.84 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.49 and a beta of 1.39. The company’s fifty day moving average price is $76.34 and its 200-day moving average price is $79.30. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. Timken has a one year low of $69.35 and a one year high of $94.71.

Timken (NYSE:TKR) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. On average, equities analysts anticipate that Timken will post 5.62 EPS for the current fiscal year.

Timken Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th will be given a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $1.36 annualized dividend and a dividend yield of 1.63%. Timken’s payout ratio is presently 27.25%.

Insider Buying and Selling at Timken

In other news, CFO Philip D. Fracassa sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the sale, the chief financial officer now directly owns 90,541 shares in the company, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Timken

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vestcor Inc acquired a new position in Timken during the 3rd quarter valued at about $560,000. TT International Asset Management LTD lifted its stake in Timken by 1,075.2% during the 3rd quarter. TT International Asset Management LTD now owns 39,274 shares of the industrial products company’s stock valued at $3,310,000 after acquiring an additional 35,932 shares during the period. Barclays PLC boosted its holdings in shares of Timken by 221.6% in the 3rd quarter. Barclays PLC now owns 86,667 shares of the industrial products company’s stock valued at $7,307,000 after acquiring an additional 59,716 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Timken in the third quarter worth $2,863,000. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Timken by 29.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company’s stock worth $4,327,000 after purchasing an additional 13,697 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

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.