Timken (NYSE:TKR) Price Target Raised to $102.00

Timken (NYSE:TKR) had its price objective lifted by analysts at Evercore ISI from $91.00 to $102.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Evercore ISI’s target price suggests a potential upside of 23.41% from the stock’s current price.

Several other equities research analysts have also commented on TKR. Jefferies Financial Group raised Timken from a “hold” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $95.00 in a research note on Friday, December 6th. KeyCorp reissued a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Morgan Stanley increased their target price on Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Citigroup dropped their target price on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, DA Davidson cut their price target on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.70.

Timken Stock Performance

Shares of TKR traded down $0.76 during mid-day trading on Wednesday, reaching $82.65. 125,533 shares of the company’s stock were exchanged, compared to its average volume of 691,230. The stock has a market capitalization of $5.80 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 1.49 and a beta of 1.39. The business’s fifty day simple moving average is $76.22 and its 200-day simple moving average is $79.27. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. Timken has a 52-week low of $69.35 and a 52-week high of $94.71.

Timken (NYSE:TKR) last issued its quarterly 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%. On average, equities research analysts expect that Timken will post 5.62 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On Timken

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Timken by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 6,465,760 shares of the industrial products company’s stock worth $461,461,000 after acquiring an additional 26,973 shares during the last quarter. American Century Companies Inc. increased its holdings in Timken by 11.3% in the fourth quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company’s stock valued at $225,436,000 after purchasing an additional 320,354 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Timken by 4.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock worth $225,880,000 after acquiring an additional 107,350 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Timken by 5.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,233,493 shares of the industrial products company’s stock valued at $159,403,000 after acquiring an additional 124,676 shares in the last quarter. Finally, State Street Corp increased its holdings 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 purchasing an additional 66,208 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.