Timken Co. (TKR) Receives $34.86 Average Target Price from Brokerages
Timken Co. (NYSE:TKR) has earned an average rating of “Hold” from the nine analysts that are presently covering the firm. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $34.86.
Several equities research analysts have weighed in on TKR shares. Evercore ISI upgraded Timken from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Monday, November 7th. Zacks Investment Research upgraded Timken from a “sell” rating to a “hold” rating in a research note on Thursday, September 29th. Finally, Bank of America Corp. cut Timken from a “buy” rating to a “neutral” rating and set a $40.00 price target for the company. in a research note on Thursday, November 17th. They noted that the move was a valuation call.
In related news, EVP William R. Burkhart sold 4,235 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $34.37, for a total value of $145,556.95. Following the completion of the sale, the executive vice president now directly owns 40,607 shares in the company, valued at $1,395,662.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 10.30% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Capital Fund Management S.A. acquired a new stake in shares of Timken during the second quarter worth $753,000. American Century Companies Inc. increased its stake in shares of Timken by 1,836.0% in the second quarter. American Century Companies Inc. now owns 323,674 shares of the company’s stock worth $9,924,000 after buying an additional 306,955 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Timken during the second quarter worth $166,000. Meeder Asset Management Inc. increased its stake in shares of Timken by 59.7% in the second quarter. Meeder Asset Management Inc. now owns 10,742 shares of the company’s stock worth $329,000 after buying an additional 4,017 shares during the last quarter. Finally, New York State Teachers Retirement System increased its stake in shares of Timken by 5.3% in the second quarter. New York State Teachers Retirement System now owns 130,279 shares of the company’s stock worth $3,994,000 after buying an additional 6,600 shares during the last quarter. Institutional investors and hedge funds own 77.36% of the company’s stock.
Timken (NYSE:TKR) opened at 39.55 on Tuesday. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 34.12 and a beta of 1.44. Timken has a 12-month low of $22.22 and a 12-month high of $39.90. The firm’s 50-day moving average price is $35.47 and its 200 day moving average price is $33.57.
Timken (NYSE:TKR) last released its earnings results on Thursday, October 27th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. Timken had a return on equity of 12.38% and a net margin of 3.40%. The firm earned $657.40 million during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The company’s quarterly revenue was down 7.1% on a year-over-year basis. On average, analysts expect that Timken will post $1.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Tuesday, November 22nd will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, November 18th. This represents a $1.04 dividend on an annualized basis and a yield of 2.63%. Timken’s payout ratio is 88.89%.
Timken Company Profile
The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, chain and related products and offers a spectrum of power system rebuild and repair services around the world. The Company operates through two segments: Mobile Industries, which offers bearings, seals, lubrication devices and systems, as well as power transmission components, engineered chain, augers and related products and maintenance services, and Process Industries, which provides industrial bearings and assemblies, power transmission components such as gears and gearboxes, couplings, seals, lubricants, chains and related products and services.
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