Other equities research analysts have also recently issued reports about the company. The Goldman Sachs Group raised their target price on Timken from $78.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. KeyCorp dropped their price target on shares of Timken from $102.00 to $91.00 and set an “overweight” rating on the stock in a research report on Monday, November 6th. Stifel Nicolaus dropped their price target on shares of Timken from $93.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, December 19th. Morgan Stanley began coverage on Timken in a research note on Monday, January 8th. They issued an “equal weight” rating and a $74.00 price target on the stock. Finally, Jefferies Financial Group cut Timken from a “buy” rating to a “hold” rating and dropped their price target for the stock from $105.00 to $85.00 in a research note on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Timken currently has a consensus rating of “Hold” and an average target price of $85.50.
Timken Stock Performance
Timken (NYSE:TKR – Get Free Report) last posted its earnings results on Monday, February 5th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.15. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Timken had a return on equity of 19.57% and a net margin of 8.26%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the business posted $1.22 earnings per share. Research analysts expect that Timken will post 6.02 earnings per share for the current year.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Lazard Asset Management LLC acquired a new position in shares of Timken during the fourth quarter worth approximately $34,000. GAMMA Investing LLC acquired a new position in shares of Timken during the fourth quarter worth approximately $35,000. Money Concepts Capital Corp acquired a new position in shares of Timken during the fourth quarter worth approximately $35,000. Sunbelt Securities Inc. acquired a new position in shares of Timken during the second quarter worth approximately $36,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Timken during the first quarter worth approximately $36,000. 84.56% 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; thrust and specialty ball bearings; and housed or mounted bearings.
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