Timken (NYSE:TKR) had its price target boosted by Bank of America from $50.00 to $51.00 in a research report released on Tuesday. Bank of America currently has an underperform rating on the industrial products company’s stock.
A number of other analysts have also recently weighed in on TKR. Zacks Investment Research raised Timken from a hold rating to a buy rating and set a $62.00 price objective for the company in a research report on Tuesday, January 23rd. Stifel Nicolaus reduced their price target on Timken from $53.00 to $52.00 and set a hold rating for the company in a report on Thursday, February 8th. ValuEngine cut Timken from a hold rating to a sell rating in a report on Wednesday, May 2nd. Finally, Vertical Research raised Timken from a hold rating to a buy rating in a report on Friday, May 4th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $51.00.
Timken opened at $48.75 on Tuesday, MarketBeat.com reports. Timken has a twelve month low of $41.85 and a twelve month high of $55.65. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.58. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 1.40 and a beta of 1.50.
Timken (NYSE:TKR) last posted its quarterly earnings data on Tuesday, May 1st. The industrial products company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.17. Timken had a return on equity of 16.55% and a net margin of 7.71%. The company had revenue of $883.00 million during the quarter, compared to analysts’ expectations of $836.56 million. During the same period last year, the firm earned $0.55 EPS. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis. research analysts forecast that Timken will post 3.96 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 4th. Stockholders of record on Friday, May 18th will be issued a $0.28 dividend. This is a boost from Timken’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Thursday, May 17th. Timken’s dividend payout ratio (DPR) is currently 42.59%.
In other Timken news, Director Frank C. Sullivan purchased 2,000 shares of Timken stock in a transaction dated Thursday, May 3rd. The stock was acquired at an average cost of $44.85 per share, with a total value of $89,700.00. Following the acquisition, the director now directly owns 46,932 shares of the company’s stock, valued at $2,104,900.20. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Philip D. Fracassa sold 3,739 shares of the firm’s stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $47.71, for a total value of $178,387.69. Following the completion of the sale, the chief financial officer now directly owns 43,534 shares of the company’s stock, valued at $2,077,007.14. The disclosure for this sale can be found here. 11.15% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TKR. Bronfman E.L. Rothschild L.P. increased its stake in Timken by 1,368.0% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,202 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 2,052 shares in the last quarter. Cerebellum GP LLC purchased a new position in Timken in the 4th quarter valued at approximately $128,000. Assetmark Inc. increased its stake in Timken by 976.8% in the 4th quarter. Assetmark Inc. now owns 3,015 shares of the industrial products company’s stock valued at $148,000 after purchasing an additional 2,735 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Timken in the 4th quarter valued at approximately $201,000. Finally, Creative Planning purchased a new position in Timken in the 4th quarter valued at approximately $210,000. 76.87% of the stock is owned by hedge funds and other institutional investors.
The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.
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