Timken (NYSE:TKR) Receives Sector Weight Rating from KeyCorp

KeyCorp reissued their sector weight rating on shares of Timken (NYSE:TKR) in a research note released on Friday, MarketBeat Ratings reports.

Several other equities research analysts have also weighed in on TKR. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $87.00 to $91.00 in a research note on Wednesday, November 13th. DA Davidson cut 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. Oppenheimer dropped their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Finally, Citigroup initiated coverage on shares of Timken in a research note on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $90.00.

Timken Trading Up 2.3 %

Shares of NYSE:TKR opened at $77.72 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The stock’s 50-day moving average is $81.39 and its 200-day moving average is $82.70. The company has a market cap of $5.45 billion, a P/E ratio of 16.16, a P/E/G ratio of 1.13 and a beta of 1.43. Timken has a 52-week low of $71.57 and a 52-week high of $94.71.

Timken (NYSE:TKR) last released its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share 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 the consensus estimate of $1.12 billion. During the same quarter in the previous year, the business posted $1.55 EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. Equities research analysts predict that Timken will post 5.61 earnings per share for the current year.

Timken Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.75%. The ex-dividend date is Tuesday, November 19th. Timken’s payout ratio is 28.27%.

Insider Buying and Selling at Timken

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction dated 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Timken

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Timken by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock worth $569,691,000 after purchasing an additional 347,794 shares during the period. American Century Companies Inc. boosted its position in shares of Timken by 4.8% during the second quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock worth $225,750,000 after buying an additional 128,791 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Timken by 4.2% during the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock worth $225,880,000 after buying an additional 107,350 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Timken by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock valued at $168,667,000 after buying an additional 97,550 shares during the last quarter. Finally, State Street Corp boosted its position in Timken by 3.5% during the 3rd quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock worth $164,689,000 after acquiring an additional 66,208 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

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.