Timken Company (The) (NYSE:TKR) Given Average Rating of “Hold” by Brokerages

Timken Company (The) (NYSE:TKR) has earned a consensus rating of “Hold” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $79.00.

Several research analysts have recently weighed in on the stock. Oppenheimer decreased their target price on shares of Timken from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Jefferies Financial Group restated a “hold” rating and issued a $70.00 target price (down from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. DA Davidson upped their target price on shares of Timken from $66.00 to $71.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Citigroup increased their price objective on shares of Timken from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, The Goldman Sachs Group reduced their price objective on shares of Timken from $85.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd.

Timken Price Performance

TKR opened at $73.69 on Wednesday. The company has a quick ratio of 1.71, a current ratio of 3.15 and a debt-to-equity ratio of 0.68. Timken has a 52-week low of $56.20 and a 52-week high of $90.49. The company has a 50 day moving average of $68.74 and a two-hundred day moving average of $72.45. The company has a market cap of $5.16 billion, a P/E ratio of 15.88, a P/E/G ratio of 1.69 and a beta of 1.28.

Timken (NYSE:TKR) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.03). Timken had a return on equity of 12.62% and a net margin of 7.24%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the firm earned $1.77 earnings per share. Timken’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, analysts expect that Timken will post 5.62 earnings per share for the current year.

Timken Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.90%. This is an increase from Timken’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, May 13th. Timken’s dividend payout ratio is 30.17%.

Institutional Trading of Timken

Institutional investors and hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC raised its holdings in shares of Timken by 79.4% during the fourth quarter. Sterling Capital Management LLC now owns 26,838 shares of the industrial products company’s stock worth $1,915,000 after purchasing an additional 11,876 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Timken during the fourth quarter worth $14,460,000. State of Alaska Department of Revenue raised its holdings in shares of Timken by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 35,118 shares of the industrial products company’s stock worth $2,523,000 after purchasing an additional 190 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Timken during the fourth quarter worth $574,000. Finally, Blue Trust Inc. raised its holdings in shares of Timken by 88.3% during the fourth quarter. Blue Trust Inc. now owns 1,877 shares of the industrial products company’s stock worth $134,000 after purchasing an additional 880 shares during the period. 89.08% of the stock is owned by institutional investors and hedge funds.

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.