Today: Today, Timken Co. (TKR) Receives $34.86 Average Target Price from Brokerages

Today, Timken Co. (TKR) Receives $34.86 Average Target Price from Brokerages

Shares of Timken Co. (NYSE:TKR) have earned an average recommendation of “Hold” from the nine ratings firms that are currently covering the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $34.86.

Several brokerages recently issued reports on TKR. Zacks Investment Research upgraded shares of Timken from a “sell” rating to a “hold” rating in a research report on Thursday, September 29th. Bank of America Corp. cut shares of Timken from a “buy” rating to a “neutral” rating and set a $40.00 price target on the stock. in a research report on Thursday, November 17th. They noted that the move was a valuation call. Finally, Evercore ISI upgraded shares of Timken from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Monday, November 7th.

Timken (NYSE:TKR) opened at 39.55 on Tuesday. The company has a market cap of $3.08 billion, a PE ratio of 34.12 and a beta of 1.44. The firm’s 50 day moving average is $35.47 and its 200 day moving average is $33.57. Timken has a 52-week low of $22.22 and a 52-week high of $39.90.

Timken (NYSE:TKR) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. Timken had a net margin of 3.40% and a return on equity of 12.38%. The company had revenue of $657.40 million for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the company earned $0.55 earnings per share. Timken’s quarterly revenue was down 7.1% on a year-over-year basis. Analysts forecast that Timken will post $1.93 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Tuesday, November 22nd will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, November 18th. This represents a $1.04 annualized dividend and a dividend yield of 2.63%. Timken’s dividend payout ratio is presently 88.89%.

In other news, EVP William R. Burkhart sold 4,235 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $34.37, for a total value of $145,556.95. Following the transaction, the executive vice president now owns 40,607 shares in the company, valued at $1,395,662.59. The sale was disclosed in a legal filing with the SEC, which is available at this link. 10.30% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Crow Point Partners LLC purchased a new position in shares of Timken during the third quarter valued at about $277,000. Cornerstone Capital Management Holdings LLC. increased its position in shares of Timken by 17.2% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 274,706 shares of the company’s stock valued at $9,652,000 after buying an additional 40,406 shares in the last quarter. Credit Suisse AG increased its position in shares of Timken by 190.0% in the third quarter. Credit Suisse AG now owns 489,879 shares of the company’s stock valued at $17,215,000 after buying an additional 320,932 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Timken by 21.5% in the third quarter. Ameritas Investment Partners Inc. now owns 57,230 shares of the company’s stock valued at $2,011,000 after buying an additional 10,132 shares in the last quarter. Finally, Phocas Financial Corp. increased its position in shares of Timken by 6.5% in the third quarter. Phocas Financial Corp. now owns 214,643 shares of the company’s stock valued at $7,543,000 after buying an additional 13,088 shares in the last quarter. Hedge funds and other institutional investors own 77.36% of the company’s stock.

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