Timken (NYSE:TKR) had its price objective cut by Stifel Nicolaus from $53.00 to $52.00 in a report published on Thursday, February 8th, Marketbeat.com reports. They currently have a hold rating on the industrial products company’s stock.
Several other equities research analysts also recently commented on the stock. Longbow Research raised shares of Timken from a neutral rating to a buy rating in a research note on Tuesday, January 2nd. Jefferies Group raised shares of Timken from a hold rating to a buy rating in a research note on Thursday, January 18th. Finally, Zacks Investment Research downgraded shares of Timken from a buy rating to a hold rating in a research note on Tuesday, October 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $52.25.
Timken (NYSE TKR) traded down $0.08 on Thursday, hitting $45.00. 1,035,333 shares of the company were exchanged, compared to its average volume of 844,046. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.13 and a current ratio of 2.23. The company has a market capitalization of $3,519.94, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 1.21 and a beta of 1.44. Timken has a twelve month low of $41.78 and a twelve month high of $55.65.
Timken (NYSE:TKR) last posted its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. Timken had a net margin of 6.77% and a return on equity of 14.55%. The business had revenue of $778.00 million during the quarter, compared to the consensus estimate of $767.98 million. During the same period in the previous year, the firm posted $0.47 earnings per share. Timken’s revenue for the quarter was up 18.8% compared to the same quarter last year. equities analysts anticipate that Timken will post 3.25 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, February 16th. Timken’s dividend payout ratio (DPR) is presently 42.02%.
In other news, insider Richard G. Kyle sold 9,242 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $49.75, for a total value of $459,789.50. Following the completion of the transaction, the insider now owns 89,236 shares in the company, valued at $4,439,491. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 11.08% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Essex Investment Management Co. LLC acquired a new position in Timken during the third quarter worth $382,000. Nomura Holdings Inc. acquired a new position in Timken during the second quarter worth $349,000. Parametrica Management Ltd acquired a new position in Timken during the third quarter worth $331,000. Lord Abbett & CO. LLC boosted its holdings in Timken by 20.6% during the second quarter. Lord Abbett & CO. LLC now owns 1,350,766 shares of the industrial products company’s stock worth $62,473,000 after purchasing an additional 230,730 shares during the last quarter. Finally, Virginia Retirement Systems ET AL boosted its holdings in Timken by 16.8% during the third quarter. Virginia Retirement Systems ET AL now owns 52,100 shares of the industrial products company’s stock worth $2,529,000 after purchasing an additional 7,500 shares during the last quarter. Institutional investors and hedge funds own 78.97% of the company’s stock.
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The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.
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