KeyCorp upgraded shares of Timken (NYSE:TKR) from a sector weight rating to an overweight rating in a report issued on Wednesday morning, MarketBeat Ratings reports. KeyCorp currently has $54.00 price objective on the industrial products company’s stock. KeyCorp also issued estimates for Timken’s Q1 2019 earnings at $1.15 EPS, Q2 2019 earnings at $1.22 EPS, Q3 2019 earnings at $1.12 EPS and FY2019 earnings at $4.55 EPS.
Several other brokerages have also recently issued reports on TKR. ValuEngine cut Timken from a hold rating to a sell rating in a research note on Monday, June 18th. Vertical Research upgraded Timken from a hold rating to a buy rating in a research note on Friday, May 4th. Zacks Investment Research cut Timken from a buy rating to a hold rating in a research note on Wednesday, March 21st. Bank of America raised their price objective on Timken from $50.00 to $51.00 and gave the stock an underperform rating in a research note on Tuesday, May 22nd. Finally, Stifel Nicolaus upgraded Timken from a hold rating to a buy rating and raised their price objective for the stock from $52.00 to $60.00 in a research note on Monday, May 28th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Timken presently has a consensus rating of Hold and a consensus target price of $52.83.
TKR stock opened at $43.55 on Wednesday. Timken has a twelve month low of $41.85 and a twelve month high of $55.65. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.34 and a quick ratio of 1.24. The company has a market cap of $3.46 billion, a PE ratio of 16.56, a P/E/G ratio of 1.26 and a beta of 1.51.
Timken (NYSE:TKR) last released its quarterly earnings results on Tuesday, May 1st. The industrial products company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.17. Timken had a net margin of 7.71% and a return on equity of 16.55%. The business had revenue of $883.00 million during the quarter, compared to the consensus estimate of $836.56 million. During the same quarter last year, the company earned $0.55 earnings per share. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. analysts anticipate that Timken will post 3.97 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 4th. Shareholders of record on Friday, May 18th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.57%. This is a boost from Timken’s previous quarterly dividend of $0.27. The ex-dividend date was Thursday, May 17th. Timken’s dividend payout ratio (DPR) is presently 42.59%.
In other Timken news, Director Ward J. Timken, Jr. sold 4,002 shares of the firm’s stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $49.10, for a total value of $196,498.20. Following the sale, the director now directly owns 269,902 shares in the company, valued at $13,252,188.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Philip D. Fracassa sold 3,739 shares of the firm’s stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $47.71, for a total value of $178,387.69. Following the completion of the sale, the chief financial officer now owns 43,534 shares in the company, valued at $2,077,007.14. The disclosure for this sale can be found here. Company insiders own 11.15% of the company’s stock.
A number of hedge funds have recently bought and sold shares of TKR. Teacher Retirement System of Texas lifted its stake in Timken by 313.6% in the fourth quarter. Teacher Retirement System of Texas now owns 23,942 shares of the industrial products company’s stock valued at $1,177,000 after buying an additional 18,154 shares during the last quarter. First Trust Advisors LP lifted its stake in Timken by 55.4% in the fourth quarter. First Trust Advisors LP now owns 179,198 shares of the industrial products company’s stock valued at $8,808,000 after buying an additional 63,906 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Timken by 116.9% in the fourth quarter. Wells Fargo & Company MN now owns 945,600 shares of the industrial products company’s stock valued at $46,477,000 after buying an additional 509,673 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Timken by 10.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 185,200 shares of the industrial products company’s stock valued at $9,102,000 after purchasing an additional 17,290 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Timken by 26.5% during the fourth quarter. Arizona State Retirement System now owns 49,162 shares of the industrial products company’s stock valued at $2,416,000 after purchasing an additional 10,293 shares in the last quarter. Institutional investors own 77.41% of the company’s stock.
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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