Brokerages Set Timken Co (NYSE:TKR) PT at $62.20
Timken Co (NYSE:TKR) has received an average rating of “Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $62.20.
A number of equities research analysts have issued reports on the stock. TheStreet upgraded shares of Timken from a “c” rating to a “b-” rating in a report on Wednesday, June 17th. Morgan Stanley raised their price objective on shares of Timken from $42.00 to $55.00 and gave the company an “equal weight” rating in a report on Tuesday, August 4th. ValuEngine lowered shares of Timken from a “hold” rating to a “sell” rating in a report on Wednesday, July 15th. KeyCorp raised their price objective on shares of Timken from $60.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, August 20th. Finally, Zacks Investment Research upgraded shares of Timken from a “sell” rating to a “strong-buy” rating and set a $56.00 price target on the stock in a research note on Thursday, August 6th.
TKR stock opened at $57.58 on Friday. The firm has a 50-day moving average of $53.20 and a two-hundred day moving average of $43.07. Timken has a 12 month low of $22.25 and a 12 month high of $58.78. The company has a current ratio of 3.02, a quick ratio of 1.84 and a debt-to-equity ratio of 0.88. The company has a market cap of $4.32 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 5.83 and a beta of 1.87.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Friday, August 21st were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.95%. The ex-dividend date was Thursday, August 20th. Timken’s payout ratio is currently 24.35%.
In other news, EVP Ronald J. Myers sold 3,501 shares of Timken stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $54.13, for a total value of $189,509.13. Following the sale, the executive vice president now owns 31,976 shares of the company’s stock, valued at $1,730,860.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard G. Kyle sold 17,750 shares of Timken stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $53.73, for a total transaction of $953,707.50. Following the completion of the sale, the chief executive officer now directly owns 249,080 shares in the company, valued at approximately $13,383,068.40. The disclosure for this sale can be found here. Insiders have sold a total of 119,141 shares of company stock worth $6,561,102 over the last three months. 11.62% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in shares of Timken by 341.4% in the first quarter. Wellington Management Group LLP now owns 32,064 shares of the industrial products company’s stock valued at $1,037,000 after acquiring an additional 24,800 shares in the last quarter. AXA purchased a new stake in Timken during the first quarter worth about $440,000. BNP Paribas Arbitrage SA boosted its holdings in Timken by 293.0% during the first quarter. BNP Paribas Arbitrage SA now owns 105,408 shares of the industrial products company’s stock worth $3,409,000 after buying an additional 78,587 shares in the last quarter. Deutsche Bank AG boosted its holdings in Timken by 1,352.4% during the first quarter. Deutsche Bank AG now owns 216,582 shares of the industrial products company’s stock worth $7,004,000 after buying an additional 201,670 shares in the last quarter. Finally, State Street Corp boosted its holdings in Timken by 2.8% during the first quarter. State Street Corp now owns 1,719,218 shares of the industrial products company’s stock worth $55,600,000 after buying an additional 46,839 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors and hedge funds.
Timken Company Profile
The Timken Company engineers, manufactures, and markets engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, 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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