Jefferies Financial Group Lowers The Timken (NYSE:TKR) Price Target to $100.00

The Timken (NYSE:TKR) had its price target trimmed by Jefferies Financial Group from $110.00 to $100.00 in a report published on Thursday, The Fly reports. The firm currently has a buy rating on the industrial products company’s stock.

Separately, Morgan Stanley reduced their price objective on The Timken from $91.00 to $84.00 and set an equal weight rating on the stock in a research note on Monday, August 9th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Buy and an average target price of $90.25.

NYSE:TKR opened at $68.02 on Thursday. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 6.83 and a beta of 1.72. The company has a quick ratio of 1.49, a current ratio of 2.56 and a debt-to-equity ratio of 0.60. The Timken has a 52 week low of $52.51 and a 52 week high of $92.39. The stock’s fifty day moving average is $75.25 and its two-hundred day moving average is $80.66.

The Timken (NYSE:TKR) last announced its quarterly earnings data on Sunday, August 1st. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.07). The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. The Timken had a net margin of 9.29% and a return on equity of 16.29%. The firm’s revenue was up 32.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.02 earnings per share. On average, sell-side analysts expect that The Timken will post 5.37 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 3rd. Shareholders of record on Friday, August 20th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Thursday, August 19th. The Timken’s payout ratio is 29.27%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Horizon Corp grew its holdings in shares of The Timken by 6.0% during the first quarter. First Horizon Corp now owns 2,204 shares of the industrial products company’s stock worth $178,000 after buying an additional 124 shares during the last quarter. AlphaMark Advisors LLC grew its holdings in shares of The Timken by 1.7% during the second quarter. AlphaMark Advisors LLC now owns 8,229 shares of the industrial products company’s stock worth $663,000 after buying an additional 141 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of The Timken by 0.7% during the first quarter. Arizona State Retirement System now owns 19,743 shares of the industrial products company’s stock worth $1,603,000 after buying an additional 142 shares during the last quarter. Carnegie Capital Asset Management LLC grew its holdings in shares of The Timken by 3.3% during the second quarter. Carnegie Capital Asset Management LLC now owns 4,503 shares of the industrial products company’s stock worth $363,000 after buying an additional 142 shares during the last quarter. Finally, HM Payson & Co. lifted its position in The Timken by 4.0% in the second quarter. HM Payson & Co. now owns 3,900 shares of the industrial products company’s stock valued at $314,000 after purchasing an additional 150 shares during the period. 80.33% of the stock is currently owned by hedge funds and other institutional investors.

The Timken Company Profile

The Timken Co engages in the engineering, manufacturing and marketing of bearings and power transmission products. It offers gearboxes, belts, chain, lubrication systems, couplings, industrial clutches and brakes. It operates through the Mobile Industries and Process Industries segments. The Mobile Industries segment serves OEM customers that manufacture off-highway equipment for the agricultural, mining and construction markets; on-highway vehicles including passenger cars, light trucks, and medium- and heavy-duty trucks; rail cars and locomotives; outdoor power equipment; and rotorcraft and fixed-wing aircraft.

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