Brokerages Set The Timken Company (NYSE:TKR) Price Target at $92.70

Shares of The Timken Company (NYSE:TKR) have been assigned an average rating of “Moderate Buy” from the eleven research firms that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $92.70.

TKR has been the topic of several recent analyst reports. Citigroup cut their target price on Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and increased their target price for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Evercore ISI boosted their price target on shares of Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and increased their price objective for the company from $80.00 to $95.00 in a report on Friday, December 6th.

Timken Stock Performance

Shares of TKR stock opened at $73.41 on Monday. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 1.51 and a beta of 1.37. The company has a 50 day moving average price of $77.97 and a 200 day moving average price of $78.88. Timken has a one year low of $69.35 and a one year high of $94.71. 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 (NYSE:TKR) last issued its earnings results 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%. Sell-side analysts anticipate that Timken will post 5.62 EPS for the current year.

Timken Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.36 annualized dividend and a dividend yield of 1.85%. Timken’s dividend payout ratio is currently 27.25%.

Insider Activity

In related news, CFO Philip D. Fracassa sold 5,000 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the sale, the chief financial officer now directly owns 90,541 shares in the company, valued at $7,379,091.50. This represents a 5.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.70% of the stock is owned by company insiders.

Institutional Trading of Timken

Institutional investors and hedge funds have recently bought and sold shares of the stock. Coastline Trust Co bought a new stake in Timken in the third quarter worth approximately $29,000. Fairway Wealth LLC acquired a new stake in shares of Timken during the 4th quarter worth approximately $29,000. Amundi increased its stake in shares of Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after acquiring an additional 174 shares in the last quarter. Parvin Asset Management LLC acquired a new position in shares of Timken during the 4th quarter valued at $66,000. Finally, Brooklyn Investment Group bought a new position in Timken during the third quarter worth $74,000. 89.08% of the stock is currently 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.