Timken (NYSE:TKR) Price Target Increased to $88.00 by Analysts at Oppenheimer

Timken (NYSE:TKRGet Rating) had its price target boosted by Oppenheimer from $84.00 to $88.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the industrial products company’s stock.

A number of other equities research analysts have also weighed in on the stock. Citigroup raised their price target on shares of Timken to $78.00 in a report on Tuesday, November 1st. KeyCorp raised their price target on shares of Timken from $75.00 to $88.00 and gave the company an overweight rating in a report on Monday, November 21st. The Goldman Sachs Group raised their price target on shares of Timken from $62.00 to $70.00 and gave the company a neutral rating in a report on Thursday, December 15th. StockNews.com raised shares of Timken from a buy rating to a strong-buy rating in a report on Friday, October 28th. Finally, Stifel Nicolaus raised their price target on shares of Timken from $81.00 to $85.00 and gave the company a buy rating in a report on Monday, December 19th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $81.33.

Timken Price Performance

Timken stock opened at $77.72 on Monday. Timken has a 52-week low of $50.85 and a 52-week high of $78.97. The firm has a fifty day moving average of $72.74 and a 200-day moving average of $67.30. The firm has a market capitalization of $5.65 billion, a P/E ratio of 15.61, a PEG ratio of 0.96 and a beta of 1.56. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.65.

Timken (NYSE:TKRGet Rating) last released its quarterly earnings data on Wednesday, October 26th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.19. Timken had a net margin of 8.44% and a return on equity of 18.16%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. As a group, analysts predict that Timken will post 5.89 EPS for the current year.

Timken Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 2nd. Shareholders of record on Monday, November 21st were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, November 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.60%. Timken’s dividend payout ratio (DPR) is 24.90%.

Insider Buying and Selling at Timken

In other Timken news, VP Hansal N. Patel sold 1,247 shares of the stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $72.83, for a total transaction of $90,819.01. Following the transaction, the vice president now directly owns 6,309 shares in the company, valued at approximately $459,484.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Hansal N. Patel sold 1,247 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $72.83, for a total value of $90,819.01. Following the transaction, the vice president now directly owns 6,309 shares in the company, valued at approximately $459,484.47. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jacqueline F. Woods sold 1,798 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $74.64, for a total transaction of $134,202.72. Following the completion of the transaction, the director now owns 14,770 shares in the company, valued at $1,102,432.80. The disclosure for this sale can be found here. Insiders have sold 67,244 shares of company stock worth $4,853,869 in the last ninety days. 10.79% of the stock is owned by insiders.

Institutional Trading of Timken

Hedge funds have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new stake in Timken in the 2nd quarter valued at about $811,000. Brandywine Oak Private Wealth LLC increased its stake in Timken by 43.3% during the 2nd quarter. Brandywine Oak Private Wealth LLC now owns 5,893 shares of the industrial products company’s stock valued at $312,000 after buying an additional 1,782 shares during the period. Investment Partners LTD. acquired a new position in Timken during the 3rd quarter valued at about $235,000. AlphaCrest Capital Management LLC increased its stake in Timken by 369.1% during the 2nd quarter. AlphaCrest Capital Management LLC now owns 22,933 shares of the industrial products company’s stock valued at $1,217,000 after buying an additional 18,044 shares during the period. Finally, Hudson Bay Capital Management LP increased its stake in Timken by 15.9% during the 2nd quarter. Hudson Bay Capital Management LP now owns 104,335 shares of the industrial products company’s stock valued at $5,535,000 after buying an additional 14,331 shares during the period. 82.00% of the stock is currently owned by institutional investors.

About Timken

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The Timken Co engages in the engineering, manufacturing, and marketing of bearings and industrial motion products. In addition to bearings, it offers drives, belts, chains, lubrication systems, couplings, industrial clutches, and brakes. It operates through the Mobile and Process Industries segments.

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