Timken Company (The) (NYSE:TKR) Receives $78.50 Consensus Target Price from Brokerages

Timken Company (The) (NYSE:TKR) has earned an average recommendation of “Hold” from the eleven brokerages that are covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $78.50.

A number of equities research analysts have issued reports on the company. Citigroup increased their price target on Timken from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. DA Davidson increased their price objective on shares of Timken from $66.00 to $71.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Morgan Stanley dropped their price objective on shares of Timken from $94.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Loop Capital dropped their price objective on shares of Timken from $85.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, April 17th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $70.00 price objective (down previously from $90.00) on shares of Timken in a report on Wednesday, April 2nd.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Fairway Wealth LLC purchased a new stake in Timken in the 4th quarter worth about $29,000. Amundi raised its position in Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 174 shares during the period. Parvin Asset Management LLC purchased a new stake in Timken in the 4th quarter worth about $66,000. UMB Bank n.a. raised its position in Timken by 400.0% in the 1st quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 800 shares during the period. Finally, GAMMA Investing LLC raised its position in Timken by 282.3% in the 1st quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company’s stock worth $82,000 after purchasing an additional 847 shares during the period. Institutional investors own 89.08% of the company’s stock.

Timken Trading Up 0.0%

Shares of TKR stock opened at $70.60 on Wednesday. Timken has a 52-week low of $56.20 and a 52-week high of $90.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.71 and a current ratio of 3.15. The firm has a market capitalization of $4.94 billion, a PE ratio of 15.22, a PEG ratio of 1.68 and a beta of 1.28. The stock has a fifty day simple moving average of $68.32 and a two-hundred day simple moving average of $72.54.

Timken (NYSE:TKR) last issued its quarterly 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). Timken had a return on equity of 12.62% and a net margin of 7.24%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the company posted $1.77 EPS. The company’s quarterly revenue was down 4.2% on a year-over-year basis. On average, analysts predict that Timken will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Tuesday, May 13th were issued a $0.35 dividend. This is an increase from Timken’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, May 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.98%. Timken’s dividend payout ratio (DPR) is presently 30.17%.

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.