Timken (NYSE:TKR) Price Target Cut to $85.00 by Analysts at Citigroup

Timken (NYSE:TKRFree Report) had its target price cut by Citigroup from $90.00 to $85.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Other research analysts have also recently issued reports about the stock. Morgan Stanley upgraded shares of Timken from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $82.00 to $93.00 in a report on Tuesday, December 17th. KeyCorp restated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Oppenheimer decreased their price target on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Jefferies Financial Group raised Timken from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $80.00 to $95.00 in a research report on Friday, December 6th. Finally, DA Davidson decreased 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. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $92.40.

Get Our Latest Stock Report on TKR

Timken Stock Up 3.2 %

TKR stock opened at $76.56 on Tuesday. The firm has a market capitalization of $5.37 billion, a PE ratio of 15.92, a P/E/G ratio of 1.12 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 twelve month low of $69.35 and a twelve month high of $94.71. The stock’s 50 day moving average is $74.62 and its 200-day moving average is $79.88.

Timken (NYSE:TKRGet Free Report) last issued its quarterly earnings data 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 company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. Timken’s revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the business posted $1.55 earnings per share. Sell-side analysts expect that Timken will post 5.61 EPS for the current fiscal year.

Timken Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Tuesday, November 19th. Timken’s dividend payout ratio (DPR) 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 shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the transaction, the director now owns 194,485 shares in the company, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.70% of the stock is currently owned by company insiders.

Institutional Trading of Timken

A number of institutional investors have recently modified their holdings of TKR. Vestcor Inc bought a new stake in Timken during the 3rd quarter valued at $560,000. TT International Asset Management LTD grew its position in shares of Timken by 1,075.2% in the third quarter. TT International Asset Management LTD now owns 39,274 shares of the industrial products company’s stock valued at $3,310,000 after purchasing an additional 35,932 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Timken during the 2nd quarter valued at $4,363,000. Barclays PLC lifted its holdings in Timken by 221.6% during the 3rd quarter. Barclays PLC now owns 86,667 shares of the industrial products company’s stock worth $7,307,000 after purchasing an additional 59,716 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Timken in the 3rd quarter worth about $2,863,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

About Timken

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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.

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