Citigroup Cuts Timken (NYSE:TKR) Price Target to $85.00

Timken (NYSE:TKR) had its price target decreased by Citigroup from $90.00 to $85.00 in a research report report published on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the industrial products company’s stock.

A number of other brokerages have also issued reports on TKR. DA Davidson cut their price target on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Oppenheimer decreased their target price on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. KeyCorp reiterated a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Evercore ISI raised shares of Timken from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $87.00 to $91.00 in a report on Wednesday, November 13th. Finally, Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and raised their target price for the company from $80.00 to $95.00 in a research note on Friday, December 6th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.40.

Timken Stock Up 0.9 %

NYSE TKR opened at $76.78 on Tuesday. The stock’s 50-day moving average price is $74.64 and its 200-day moving average price is $79.83. The company has a market capitalization of $5.38 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 0.95 and a beta of 1.39. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. 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 Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. Timken’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.55 EPS. On average, equities research analysts predict that Timken will post 5.61 earnings per share for the current year.

Timken Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were given a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.77%. Timken’s dividend payout ratio is currently 28.27%.

Insider Buying and Selling at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction that occurred on 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 owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. The trade was a 13.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Coastline Trust Co bought a new stake in shares of Timken in the 3rd quarter worth about $29,000. Livelsberger Financial Advisory bought a new position in Timken during the 3rd quarter valued at about $32,000. UMB Bank n.a. raised its position in Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 168 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Timken in the second quarter worth about $44,000. Finally, Brooklyn Investment Group bought a new position in shares of Timken during the third quarter valued at approximately $74,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

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.