Timken (NYSE:TKR) Price Target Raised to $95.00

Timken (NYSE:TKR) had its price objective boosted by KeyCorp from $91.00 to $95.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

Several other brokerages have also recently weighed in on TKR. StockNews.com cut shares of Timken from a buy rating to a hold rating in a research report on Wednesday, February 21st. Stifel Nicolaus raised their target price on Timken from $92.00 to $100.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Oppenheimer reaffirmed an outperform rating and set a $100.00 price target (up previously from $97.00) on shares of Timken in a research report on Thursday, March 21st. The Goldman Sachs Group lifted their price objective on Timken from $78.00 to $87.00 and gave the stock a neutral rating in a research report on Tuesday, February 6th. Finally, Morgan Stanley assumed coverage on Timken in a report on Monday, January 8th. They set an equal weight rating and a $74.00 target price for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $87.09.

Timken Stock Up 0.4 %

TKR opened at $89.49 on Thursday. The company has a market cap of $6.30 billion, a P/E ratio of 17.05, a P/E/G ratio of 1.21 and a beta of 1.51. Timken has a 12 month low of $65.71 and a 12 month high of $95.08. The business’s 50-day moving average price is $86.12 and its 200-day moving average price is $80.00. The company has a current ratio of 1.87, a quick ratio of 0.96 and a debt-to-equity ratio of 0.66.

Timken (NYSE:TKR) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.27. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Timken had a return on equity of 17.98% and a net margin of 7.99%. The business’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.09 EPS. On average, equities analysts expect that Timken will post 6.18 EPS for the current year.

Timken Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th will be paid a $0.34 dividend. This is a boost from Timken’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Monday, May 13th. This represents a $1.36 dividend on an annualized basis and a yield of 1.52%. Timken’s payout ratio is presently 25.14%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Buck Wealth Strategies LLC purchased a new stake in shares of Timken during the first quarter valued at approximately $2,144,000. Avidian Wealth Solutions LLC purchased a new stake in Timken during the 1st quarter valued at $235,000. Fidelis Capital Partners LLC bought a new stake in shares of Timken in the 1st quarter worth $26,000. BNP Paribas purchased a new position in shares of Timken in the first quarter worth $1,144,000. Finally, Janney Montgomery Scott LLC raised its stake in shares of Timken by 6.4% in the first quarter. Janney Montgomery Scott LLC now owns 106,932 shares of the industrial products company’s stock worth $9,349,000 after purchasing an additional 6,398 shares during the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

About Timken

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.