Loop Capital Boosts Timken (NYSE:TKR) Price Target to $87.00

Timken (NYSE:TKR) had its target price upped by Loop Capital from $78.00 to $87.00 in a report issued on Wednesday morning, Benzinga reports. Loop Capital currently has a hold rating on the industrial products company’s stock.

Other equities analysts also recently issued reports about the stock. Oppenheimer restated an outperform rating and set a $100.00 price objective (up from $97.00) on shares of Timken in a research note on Thursday, March 21st. The Goldman Sachs Group raised their price target on Timken from $78.00 to $87.00 and gave the company a neutral rating in a research note on Tuesday, February 6th. Morgan Stanley started coverage on Timken in a research note on Monday, January 8th. They set an equal weight rating and a $74.00 price objective on the stock. DA Davidson initiated coverage on shares of Timken in a research note on Tuesday, January 23rd. They issued a buy rating and a $92.00 target price for the company. Finally, Stifel Nicolaus upped their price target on shares of Timken from $92.00 to $100.00 and gave the stock a buy rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Timken currently has a consensus rating of Hold and a consensus target price of $87.09.

Timken Stock Up 0.4 %

NYSE:TKR opened at $89.51 on Wednesday. The stock has a 50-day simple moving average of $85.95 and a 200 day simple moving average of $79.84. Timken has a 52-week low of $65.71 and a 52-week high of $95.08. The company has a market cap of $6.30 billion, a PE ratio of 17.05, a PEG ratio of 1.19 and a beta of 1.51. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.96 and a current ratio of 1.87.

Timken (NYSE:TKR) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.27. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Timken had a net margin of 7.99% and a return on equity of 17.98%. The business’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period last year, the business earned $2.09 EPS. On average, sell-side analysts expect that Timken will post 6.13 EPS for the current fiscal year.

Timken Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Tuesday, February 20th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Friday, February 16th. Timken’s payout ratio is 25.14%.

Institutional Investors Weigh In On Timken

Institutional investors have recently made changes to their positions in the company. Treasurer of the State of North Carolina boosted its position in shares of Timken by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 34,728 shares of the industrial products company’s stock valued at $2,552,000 after acquiring an additional 161 shares during the period. Quadrant Capital Group LLC raised its stake in Timken by 10.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,954 shares of the industrial products company’s stock worth $157,000 after purchasing an additional 179 shares in the last quarter. Portside Wealth Group LLC boosted its holdings in Timken by 6.6% in the 3rd quarter. Portside Wealth Group LLC now owns 3,006 shares of the industrial products company’s stock valued at $224,000 after purchasing an additional 186 shares during the period. Arizona State Retirement System grew its position in shares of Timken by 1.1% during the 3rd quarter. Arizona State Retirement System now owns 18,551 shares of the industrial products company’s stock worth $1,363,000 after purchasing an additional 194 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Timken by 0.9% during the third quarter. Public Employees Retirement System of Ohio now owns 28,537 shares of the industrial products company’s stock worth $2,097,000 after purchasing an additional 262 shares during the period. 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.