Timken (NYSE:TKR) Given New $71.00 Price Target at DA Davidson

Timken (NYSE:TKR) had its target price raised by DA Davidson from $66.00 to $71.00 in a research note released on Monday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

A number of other equities analysts have also commented on TKR. Evercore ISI boosted their price target on shares of Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group dropped their price target on Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Loop Capital reduced their price objective on Timken from $85.00 to $65.00 and set a “hold” rating on the stock in a research note on Thursday, April 17th. Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and raised their target price for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Finally, Morgan Stanley cut their price target on Timken from $94.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Timken presently has a consensus rating of “Hold” and a consensus price target of $79.70.

Timken Price Performance

Shares of Timken stock opened at $66.46 on Monday. Timken has a twelve month low of $56.20 and a twelve month high of $93.66. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The firm has a market cap of $4.65 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 1.51 and a beta of 1.30. The firm’s 50-day simple moving average is $68.63 and its 200-day simple moving average is $74.40.

Timken (NYSE:TKR) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.03). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.13 billion. Timken had a return on equity of 13.93% and a net margin of 7.71%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.77 earnings per share. As a group, research analysts expect that Timken will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.35 per share. This is a boost from Timken’s previous quarterly dividend of $0.34. The ex-dividend date is Tuesday, May 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.11%. Timken’s payout ratio is currently 30.17%.

Insider Activity at Timken

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the sale, the chief financial officer now owns 90,541 shares in the company, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Timken

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TKR. First Horizon Advisors Inc. grew its position in shares of Timken by 8.7% during the 4th quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company’s stock worth $141,000 after buying an additional 158 shares during the period. Blue Trust Inc. boosted its stake in Timken by 9.2% during the 1st quarter. Blue Trust Inc. now owns 2,050 shares of the industrial products company’s stock worth $147,000 after acquiring an additional 173 shares during the last quarter. Amundi grew its holdings in Timken by 25.8% during the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after purchasing an additional 174 shares during the period. Ethic Inc. increased its stake in Timken by 2.8% in the fourth quarter. Ethic Inc. now owns 6,882 shares of the industrial products company’s stock valued at $491,000 after purchasing an additional 188 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Timken by 2.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,476 shares of the industrial products company’s stock worth $537,000 after purchasing an additional 188 shares during the period. Institutional investors own 89.08% of the company’s stock.

About Timken

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.