Timken Co (NYSE:TKR) announced a quarterly dividend on Friday, November 9th, RTT News reports. Investors of record on Tuesday, November 20th will be given a dividend of 0.28 per share by the industrial products company on Tuesday, December 4th. This represents a $1.12 annualized dividend and a yield of 2.75%.

Timken has raised its dividend payment by an average of 2.3% per year over the last three years and has raised its dividend every year for the last 4 years. Timken has a dividend payout ratio of 26.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Timken to earn $4.80 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 23.3%.

TKR opened at $40.66 on Friday. The firm has a market capitalization of $3.27 billion, a P/E ratio of 11.01, a P/E/G ratio of 0.68 and a beta of 1.86. Timken has a 12 month low of $34.90 and a 12 month high of $55.65. The company has a current ratio of 2.72, a quick ratio of 1.44 and a debt-to-equity ratio of 1.03.

Timken (NYSE:TKR) last posted its quarterly earnings data on Monday, October 29th. The industrial products company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01). The company had revenue of $881.30 million during the quarter, compared to the consensus estimate of $912.58 million. Timken had a net margin of 7.89% and a return on equity of 19.58%. The company’s revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 earnings per share. As a group, equities analysts forecast that Timken will post 4.18 EPS for the current year.

Several equities research analysts have issued reports on the stock. ValuEngine lowered shares of Timken from a “sell” rating to a “strong sell” rating in a research note on Friday, October 12th. KeyCorp lifted their price target on shares of Timken from $54.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, August 1st. Zacks Investment Research upgraded shares of Timken from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Saturday, October 13th. Goldman Sachs Group assumed coverage on shares of Timken in a research note on Tuesday, October 2nd. They issued a “neutral” rating and a $56.00 price target on the stock. Finally, Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and set a $56.00 price target on the stock in a research note on Wednesday, August 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $56.20.

In other news, insider Shelly Marie Chadwick sold 1,043 shares of the business’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $48.85, for a total transaction of $50,950.55. Following the transaction, the insider now directly owns 3,102 shares in the company, valued at approximately $151,532.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank C. Sullivan acquired 5,000 shares of the stock in a transaction dated Monday, November 5th. The shares were purchased at an average price of $41.05 per share, for a total transaction of $205,250.00. Following the completion of the purchase, the director now directly owns 51,932 shares in the company, valued at $2,131,808.60. The disclosure for this purchase can be found here. 11.15% of the stock is currently owned by insiders.

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Timken Company Profile

The Timken Company engineers, manufactures, and markets bearings, transmissions, gearboxes, belts, chains, lubrication systems, couplings, industrial clutches and brakes, and related products worldwide. It operates through two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, lubrication devices, and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches and brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.

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Dividend History for Timken (NYSE:TKR)

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