Timken (NYSE:TKR) Rating Lowered to Neutral at Bank of America

Bank of America downgraded shares of Timken (NYSE:TKR) from a buy rating to a neutral rating in a report released on Monday morning, Briefing.com Automated Import reports. The brokerage currently has $55.00 price objective on the industrial products company’s stock.

Several other research firms also recently commented on TKR. Zacks Investment Research raised shares of Vistra Energy from a hold rating to a buy rating and set a $25.00 price objective for the company in a report on Saturday, July 13th. Morgan Stanley set a $143.00 price objective on shares of FedEx and gave the company a hold rating in a report on Monday, June 10th. Finally, ValuEngine raised shares of WPP from a sell rating to a hold rating in a report on Wednesday, June 19th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $56.60.

TKR opened at $47.40 on Monday. The firm’s 50-day moving average is $48.37. Timken has a 52 week low of $33.98 and a 52 week high of $52.45. The company has a market cap of $3.64 billion, a P/E ratio of 11.34, a PEG ratio of 0.99 and a beta of 1.77. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.81 and a quick ratio of 1.58.



Timken (NYSE:TKR) last released its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.24 by $0.11. Timken had a net margin of 8.55% and a return on equity of 21.51%. The business had revenue of $979.70 million during the quarter, compared to the consensus estimate of $983.81 million. During the same quarter in the prior year, the firm earned $1.01 EPS. The business’s revenue was up 10.9% on a year-over-year basis. As a group, analysts forecast that Timken will post 5.24 earnings per share for the current year.

In related news, EVP Ronald J. Myers sold 13,191 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $50.77, for a total value of $669,707.07. Following the completion of the transaction, the executive vice president now owns 18,987 shares of the company’s stock, valued at approximately $963,969.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Shelly Marie Chadwick sold 2,400 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $51.44, for a total transaction of $123,456.00. Following the completion of the transaction, the insider now directly owns 1,443 shares of the company’s stock, valued at approximately $74,227.92. The disclosure for this sale can be found here. 11.58% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in TKR. Bronfman E.L. Rothschild L.P. raised its position in Timken by 22.4% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 1,555 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 285 shares during the period. Huntington National Bank raised its position in Timken by 5.6% in the 1st quarter. Huntington National Bank now owns 5,887 shares of the industrial products company’s stock worth $257,000 after purchasing an additional 312 shares during the period. Retirement Systems of Alabama raised its position in Timken by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 89,107 shares of the industrial products company’s stock worth $4,575,000 after purchasing an additional 339 shares during the period. Bank of Montreal Can raised its position in Timken by 17.7% in the 1st quarter. Bank of Montreal Can now owns 2,427 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 365 shares during the period. Finally, BOKF NA raised its position in Timken by 3.8% in the 4th quarter. BOKF NA now owns 11,155 shares of the industrial products company’s stock worth $416,000 after purchasing an additional 413 shares during the period. 78.16% of the stock is owned by hedge funds and other institutional investors.

About Timken

The Timken Company engineers, manufactures, and markets engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.

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