Timken (NYSE:TKR) Raised to “Overweight” at Morgan Stanley

Timken (NYSE:TKR) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has a $93.00 price target on the industrial products company’s stock, up from their previous price target of $82.00. Morgan Stanley’s price objective would suggest a potential upside of 29.17% from the stock’s current price.

A number of other analysts have also commented on the company. Oppenheimer decreased their price objective on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Citigroup upgraded shares of Timken from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $90.00 in a report on Monday, December 9th. DA Davidson reduced their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. KeyCorp restated a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Finally, Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $87.00 to $91.00 in a report on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.90.

Timken Price Performance

Shares of NYSE TKR opened at $72.00 on Tuesday. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. The stock has a market cap of $5.05 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 1.12 and a beta of 1.38. The company’s 50-day moving average price is $79.13 and its 200 day moving average price is $81.22. Timken has a 52 week low of $71.70 and a 52 week high of $94.71.

Timken (NYSE:TKR) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the company earned $1.55 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, research analysts forecast that Timken will post 5.61 earnings per share for the current fiscal year.

Insider Transactions at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the sale, the director now owns 194,485 shares in the company, valued at approximately $14,895,606.15. This trade represents a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Timken

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