KeyCorp Reiterates “Sector Weight” Rating for Timken (NYSE:TKR)

Timken (NYSE:TKR)‘s stock had its “sector weight” rating reaffirmed by KeyCorp in a research report issued on Friday,Benzinga reports.

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

Timken Price Performance

Shares of NYSE:TKR opened at $75.22 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.09 and a beta of 1.43. The firm has a fifty day moving average price of $81.53 and a 200 day moving average price of $82.99. Timken has a fifty-two week low of $71.57 and a fifty-two week high of $94.71.

Timken (NYSE:TKR) last released its quarterly earnings data 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 firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the firm earned $1.55 EPS. The business’s revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that Timken will post 5.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Timken

In related news, Director Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 194,485 shares in the company, valued at $14,895,606.15. This represents a 13.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 8.70% of the company’s stock.

Institutional Trading of Timken

Hedge funds have recently modified their holdings of the company. Coastline Trust Co purchased a new position in shares of Timken in the 3rd quarter worth approximately $29,000. EverSource Wealth Advisors LLC grew its holdings in Timken by 1,905.6% in the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 343 shares during the last quarter. Versant Capital Management Inc acquired a new position in shares of Timken during the second quarter worth $30,000. Livelsberger Financial Advisory purchased a new stake in shares of Timken during the 3rd quarter valued at $32,000. Finally, UMB Bank n.a. boosted its position in shares of 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 in the last quarter. 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.