Timken’s (TKR) “Sector Weight” Rating Reiterated at KeyCorp

KeyCorp reaffirmed their sector weight rating on shares of Timken (NYSE:TKR) in a research report report published on Friday, Marketbeat Ratings reports.

Other equities research analysts also recently issued reports about the stock. Citigroup began coverage on shares of Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 target price for the company. DA Davidson reduced their price target on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $87.00 to $91.00 in a research note on Wednesday, November 13th. Finally, Oppenheimer dropped their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $90.00.

Timken Trading Up 1.0 %

TKR opened at $75.96 on Friday. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The stock has a market cap of $5.33 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. The company has a fifty day moving average of $81.45 and a 200-day moving average of $82.80. Timken has a twelve month low of $71.57 and a twelve month high of $94.71.

Timken (NYSE:TKR) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Timken had a return on equity of 14.82% and a net margin of 7.41%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. Timken’s quarterly revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts predict that Timken will post 5.61 EPS for the current year.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.79%. Timken’s dividend payout ratio is currently 28.27%.

Insider Activity at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the transaction, the director now directly owns 194,485 shares of the company’s stock, valued at $14,895,606.15. The trade was a 13.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.70% of the stock is currently owned by company insiders.

Institutional Trading of Timken

Several institutional investors have recently made changes to their positions in TKR. Coastline Trust Co purchased a new position in shares of Timken in the 3rd quarter worth $29,000. Versant Capital Management Inc bought a new position in Timken during the 2nd quarter worth about $30,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Timken by 1,905.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock valued at $32,000 after buying an additional 343 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in shares of Timken during the third quarter worth $32,000. Finally, UMB Bank n.a. raised its stake in Timken by 64.1% in the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after buying an additional 168 shares during the last quarter. Hedge funds and other 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.