Timken (NYSE:TKR) Price Target Lowered to $88.00 at Morgan Stanley

Timken (NYSE:TKR) had its target price decreased by Morgan Stanley from $94.00 to $88.00 in a research report report published on Wednesday morning, Marketbeat Ratings reports. Morgan Stanley currently has an overweight rating on the industrial products company’s stock.

A number of other brokerages also recently commented on TKR. Evercore ISI upped their target price on Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $70.00 target price (down from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. The Goldman Sachs Group cut their price objective on Timken from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Finally, Citigroup dropped their price target on Timken from $95.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Timken currently has an average rating of “Moderate Buy” and an average price target of $86.91.

Timken Trading Down 1.5 %

Shares of TKR opened at $61.10 on Wednesday. The firm has a fifty day simple moving average of $73.37 and a two-hundred day simple moving average of $76.35. Timken has a twelve month low of $56.20 and a twelve month high of $94.71. The stock has a market capitalization of $4.28 billion, a P/E ratio of 12.24, a PEG ratio of 1.51 and a beta of 1.28. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69.

Timken (NYSE:TKR) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) 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%. On average, research analysts anticipate that Timken will post 5.62 EPS for the current year.

Timken Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Tuesday, February 25th. Timken’s dividend payout ratio is presently 27.25%.

Insider Activity at Timken

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

Institutional Investors Weigh In On Timken

Several institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in Timken by 418.4% during the 4th quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company’s stock valued at $62,959,000 after purchasing an additional 711,979 shares during the last quarter. Norges Bank purchased a new stake in shares of Timken during the fourth quarter valued at $42,748,000. Millennium Management LLC increased its holdings in Timken by 1,421.1% in the 4th quarter. Millennium Management LLC now owns 458,700 shares of the industrial products company’s stock worth $32,737,000 after buying an additional 428,545 shares in the last quarter. American Century Companies Inc. raised its position in Timken by 11.3% in the 4th quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company’s stock worth $225,436,000 after buying an additional 320,354 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in Timken by 193.8% in the fourth quarter. Voloridge Investment Management LLC now owns 364,498 shares of the industrial products company’s stock valued at $26,014,000 after acquiring an additional 240,417 shares during the period. Institutional investors 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.