Timken Co. (NYSE:TKR) was upgraded by equities research analysts at Evercore ISI from a “hold” rating to a “buy” rating in a report issued on Monday. The firm presently has a $37.00 price objective on the stock. Evercore ISI’s price objective indicates a potential downside of 6.57% from the stock’s current price.
Several other research analysts have also recently weighed in on the stock. Avondale Partners upgraded shares of Timken from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a research note on Monday, July 11th. Zacks Investment Research upgraded shares of Timken from a “sell” rating to a “hold” rating in a research note on Thursday, September 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Timken has a consensus rating of “Hold” and a consensus price target of $34.63.
Timken (NYSE:TKR) opened at 39.60 on Monday. The company has a 50-day moving average of $35.58 and a 200 day moving average of $33.62. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 34.17 and a beta of 1.44. Timken has a 12 month low of $22.22 and a 12 month high of $39.90.
Timken (NYSE:TKR) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.03. The business had revenue of $657.40 million for the quarter, compared to analysts’ expectations of $1.28 billion. Timken had a net margin of 3.40% and a return on equity of 12.38%. The company’s revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.55 EPS. On average, equities research analysts anticipate that Timken will post $1.93 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Tuesday, November 22nd will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, November 18th. This represents a $1.04 dividend on an annualized basis and a yield of 2.63%. Timken’s dividend payout ratio is currently 88.89%.
In other Timken news, EVP William R. Burkhart sold 4,235 shares of Timken stock in a transaction 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 sale, the executive vice president now directly owns 40,607 shares in the company, valued at approximately $1,395,662.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 10.30% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. increased its stake in shares of Timken by 59.7% in the second quarter. Meeder Asset Management Inc. now owns 10,742 shares of the company’s stock worth $329,000 after buying an additional 4,017 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Timken by 5.3% in the second quarter. New York State Teachers Retirement System now owns 130,279 shares of the company’s stock worth $3,994,000 after buying an additional 6,600 shares in the last quarter. LS Investment Advisors LLC increased its stake in shares of Timken by 75.0% in the second quarter. LS Investment Advisors LLC now owns 4,222 shares of the company’s stock worth $129,000 after buying an additional 1,810 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Timken during the second quarter worth about $383,000. Finally, Americafirst Capital Management LLC bought a new stake in shares of Timken during the second quarter worth about $233,000. Institutional investors own 77.36% of the company’s stock.
Timken Company Profile