Timken (NYSE:TKR) Price Target Increased to $87.00 by Analysts at Loop Capital

Timken (NYSE:TKR) had its target price hoisted by Loop Capital from $78.00 to $87.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Loop Capital currently has a hold rating on the industrial products company’s stock.

Other equities research analysts also recently issued reports about the stock. Oppenheimer restated an outperform rating and issued a $100.00 price target (up from $97.00) on shares of Timken in a research note on Thursday, March 21st. DA Davidson started coverage on shares of Timken in a research note on Tuesday, January 23rd. They issued a buy rating and a $92.00 price target on the stock. Evercore ISI downgraded shares of Timken from an outperform rating to an in-line rating and set a $84.00 target price on the stock. in a research report on Tuesday, February 20th. StockNews.com downgraded shares of Timken from a buy rating to a hold rating in a research report on Wednesday, February 21st. Finally, The Goldman Sachs Group lifted their target price on shares of Timken from $78.00 to $87.00 and gave the stock a neutral rating in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Timken currently has a consensus rating of Hold and an average target price of $86.73.

Timken Price Performance

TKR stock opened at $87.48 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.87 and a debt-to-equity ratio of 0.66. Timken has a 12 month low of $65.71 and a 12 month high of $95.08. The firm has a market cap of $6.16 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.22 and a beta of 1.51. The company’s 50-day moving average price is $85.62 and its two-hundred day moving average price is $79.72.

Timken (NYSE:TKR) last released its earnings results on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.50 by $0.27. Timken had a net margin of 7.99% and a return on equity of 17.98%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the firm earned $2.09 EPS. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. On average, analysts anticipate that Timken will post 6.11 earnings per share for the current fiscal year.

Timken Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Tuesday, February 20th were given a $0.33 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.51%. Timken’s dividend payout ratio (DPR) is currently 25.14%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TKR. Treasurer of the State of North Carolina increased its stake in shares of Timken by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 34,728 shares of the industrial products company’s stock valued at $2,552,000 after acquiring an additional 161 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Timken by 10.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,954 shares of the industrial products company’s stock valued at $157,000 after acquiring an additional 179 shares in the last quarter. Portside Wealth Group LLC increased its stake in shares of Timken by 6.6% in the 3rd quarter. Portside Wealth Group LLC now owns 3,006 shares of the industrial products company’s stock valued at $224,000 after acquiring an additional 186 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Timken by 1.1% in the 3rd quarter. Arizona State Retirement System now owns 18,551 shares of the industrial products company’s stock valued at $1,363,000 after acquiring an additional 194 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Timken by 0.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 28,537 shares of the industrial products company’s stock valued at $2,097,000 after acquiring an additional 262 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Company Profile

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.