The Timken Company (NYSE:TKR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of The Timken Company (NYSE:TKR) have been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $92.40.

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and raised their target price for the stock from $80.00 to $95.00 in a report on Friday, December 6th. KeyCorp reissued a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Oppenheimer cut their price target on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $87.00 to $91.00 in a research note on Wednesday, November 13th. Finally, DA Davidson reduced their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, November 6th.

Insiders Place Their Bets

In related 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 value of $2,297,700.00. Following the transaction, the director now directly 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 Securities & Exchange Commission, which is accessible through this link. 8.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Timken

Several institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its stake in Timken by 7.3% during the second quarter. Envestnet Asset Management Inc. now owns 188,471 shares of the industrial products company’s stock valued at $15,102,000 after acquiring an additional 12,883 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Timken by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock valued at $168,667,000 after purchasing an additional 97,550 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Timken during the second quarter valued at about $1,394,000. Mercer Global Advisors Inc. ADV increased its holdings in shares of Timken by 5.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 44,348 shares of the industrial products company’s stock worth $3,554,000 after purchasing an additional 2,302 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Timken by 5.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,313 shares of the industrial products company’s stock worth $742,000 after buying an additional 493 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Timken Stock Performance

Shares of TKR opened at $76.81 on Friday. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 0.95 and a beta of 1.39. The business’s fifty day simple moving average is $74.64 and its two-hundred day simple moving average is $79.80. Timken has a 12 month low of $69.35 and a 12 month high of $94.71. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71.

Timken (NYSE:TKR) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the business earned $1.55 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. Research analysts anticipate that Timken will post 5.61 earnings per share for the current fiscal year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Tuesday, November 19th. Timken’s dividend payout ratio (DPR) is 28.27%.

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.