Timken (NYSE:TKR) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Monday.
A number of other brokerages have also recently commented on TKR. Vertical Research raised Timken from a “hold” rating to a “buy” rating in a report on Friday, May 4th. Zacks Investment Research cut Timken from a “buy” rating to a “hold” rating in a report on Wednesday, March 21st. Bank of America increased their target price on Timken from $50.00 to $51.00 and gave the company an “underperform” rating in a report on Tuesday, May 22nd. KeyCorp raised Timken from a “sector weight” rating to an “overweight” rating and set a $54.00 target price for the company in a report on Wednesday, June 27th. Finally, CL King started coverage on Timken in a report on Thursday, June 28th. They set a “neutral” rating for the company. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. Timken presently has an average rating of “Hold” and an average price target of $52.83.
NYSE TKR opened at $43.30 on Monday. The stock has a market capitalization of $3.38 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 1.23 and a beta of 1.53. Timken has a twelve month low of $41.85 and a twelve month high of $55.65. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.58.
Timken (NYSE:TKR) last announced its earnings results on Tuesday, May 1st. The industrial products company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.17. Timken had a return on equity of 16.55% and a net margin of 7.71%. The business had revenue of $883.00 million during the quarter, compared to analysts’ expectations of $836.56 million. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The business’s revenue was up 25.4% compared to the same quarter last year. equities research analysts expect that Timken will post 3.97 EPS for the current year.
In other news, CFO Philip D. Fracassa sold 3,739 shares of the company’s stock in a transaction that occurred on Tuesday, May 8th. The stock was 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 directly owns 43,534 shares in the company, valued at $2,077,007.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ward J. Timken, Jr. sold 4,002 shares of the company’s stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $49.10, for a total value of $196,498.20. Following the completion of the sale, the director now owns 269,902 shares of the company’s stock, valued at $13,252,188.20. The disclosure for this sale can be found here. 11.15% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of TKR. Advisor Group Inc. grew its position in Timken by 33.6% in the fourth quarter. Advisor Group Inc. now owns 5,903 shares of the industrial products company’s stock worth $291,000 after acquiring an additional 1,484 shares during the period. OppenheimerFunds Inc. grew its position in Timken by 9.6% in the fourth quarter. OppenheimerFunds Inc. now owns 17,354 shares of the industrial products company’s stock worth $853,000 after acquiring an additional 1,522 shares during the period. Bronfman E.L. Rothschild L.P. grew its position in Timken by 1,368.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,202 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 2,052 shares during the period. California Public Employees Retirement System grew its position in Timken by 1.2% in the first quarter. California Public Employees Retirement System now owns 187,592 shares of the industrial products company’s stock worth $8,554,000 after acquiring an additional 2,258 shares during the period. Finally, Swiss National Bank grew its position in Timken by 2.3% in the first quarter. Swiss National Bank now owns 122,000 shares of the industrial products company’s stock worth $5,563,000 after acquiring an additional 2,700 shares during the period. Institutional investors and hedge funds 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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