Timken (NYSE:TKR) Raised to Neutral at Bank of America

Timken (NYSE:TKR) was upgraded by equities research analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage presently has a $78.00 price target on the industrial products company’s stock, up from their previous price target of $73.00. Bank of America‘s price target would suggest a potential downside of 4.47% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on TKR. KeyCorp reiterated a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. DA Davidson reduced their price objective on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Morgan Stanley upgraded Timken from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $82.00 to $93.00 in a research report on Tuesday, December 17th. Evercore ISI raised Timken from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $87.00 to $91.00 in a research note on Wednesday, November 13th. Finally, Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and boosted their price objective for the company from $80.00 to $95.00 in a research report on Friday, December 6th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.09.

Timken Stock Performance

Shares of NYSE:TKR opened at $81.65 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. Timken has a 1 year low of $69.35 and a 1 year high of $94.71. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 1.04 and a beta of 1.39. The company’s 50 day simple moving average is $75.30 and its 200 day simple moving average is $79.41.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.08 by $0.08. Timken had a return on equity of 14.82% and a net margin of 7.41%. As a group, research analysts predict that Timken will post 5.61 EPS for the current fiscal year.

Insider Transactions at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction on Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the sale, the director now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Timken

Institutional investors have recently modified their holdings of the business. Kohmann Bosshard Financial Services LLC acquired a new stake in Timken in the 4th quarter valued at about $109,000. QRG Capital Management Inc. increased its holdings in Timken by 5.1% in the fourth quarter. QRG Capital Management Inc. now owns 54,399 shares of the industrial products company’s stock valued at $3,882,000 after buying an additional 2,664 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Timken during the 4th quarter valued at about $3,101,000. Phocas Financial Corp. bought a new stake in shares of Timken during the 4th quarter valued at about $550,000. Finally, Bank of New York Mellon Corp grew its holdings in Timken by 7.6% in the 4th quarter. Bank of New York Mellon Corp now owns 717,278 shares of the industrial products company’s stock worth $51,192,000 after buying an additional 50,519 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

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.