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

Timken (NYSE:TKR)‘s stock had its “sector weight” rating reiterated by analysts at KeyCorp in a research report issued to clients and investors on Friday, MarketBeat.com reports.

TKR has been the topic of several other research reports. DA Davidson dropped their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Oppenheimer reduced their target price on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Citigroup began coverage on Timken in a research note on Monday, October 14th. They set a “neutral” rating and a $90.00 price target on the stock. Finally, Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $87.00 to $91.00 in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Timken presently has an average rating of “Hold” and a consensus target price of $90.00.

Timken Stock Performance

Shares of TKR stock opened at $75.96 on Friday. The firm 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 has a 52-week low of $71.57 and a 52-week high of $94.71. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The company’s 50 day moving average is $81.45 and its 200 day moving average is $82.85.

Timken (NYSE:TKR) last posted its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the firm earned $1.55 EPS. Timken’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, sell-side analysts anticipate that Timken will post 5.61 EPS for the current fiscal year.

Insider Activity at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. The trade was a 13.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Timken

Large investors have recently modified their holdings of the business. TT International Asset Management LTD boosted its position in shares of 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 worth $3,310,000 after purchasing an additional 35,932 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Timken during the third quarter worth $734,000. Geode Capital Management LLC grew its stake in shares of Timken by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,073,123 shares of the industrial products company’s stock valued at $90,477,000 after buying an additional 5,970 shares in the last quarter. Vestcor Inc purchased a new stake in shares of Timken in the 3rd quarter valued at $560,000. Finally, M&T Bank Corp lifted its stake in Timken by 0.6% during the 3rd quarter. M&T Bank Corp now owns 24,482 shares of the industrial products company’s stock worth $2,064,000 after acquiring an additional 144 shares in the last quarter. 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.