Bank of America upgraded shares of Timken (NYSE:TKR) from a neutral rating to a buy rating in a research report released on Monday morning, MarketBeat reports. They currently have $50.00 price target on the industrial products company’s stock, up from their prior price target of $45.00.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded Timken from a buy rating to a hold rating in a report on Thursday, November 22nd. Goldman Sachs Group began coverage on Timken in a report on Tuesday, October 2nd. They set a neutral rating and a $56.00 price objective on the stock. Finally, ValuEngine downgraded Timken from a sell rating to a strong sell rating in a report on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $54.40.
NYSE TKR opened at $38.74 on Monday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.44 and a current ratio of 2.72. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 0.63 and a beta of 1.88. Timken has a 1-year low of $34.90 and a 1-year high of $55.65.
Timken (NYSE:TKR) last released its quarterly earnings data on Monday, October 29th. The industrial products company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). The company had revenue of $881.30 million for the quarter, compared to analyst estimates of $912.58 million. Timken had a net margin of 7.89% and a return on equity of 19.58%. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. On average, sell-side analysts predict that Timken will post 4.21 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 4th. Stockholders of record on Tuesday, November 20th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Monday, November 19th. Timken’s payout ratio is currently 42.59%.
In other Timken news, Director Frank C. Sullivan bought 5,000 shares of Timken stock in a transaction dated Monday, November 5th. The shares were acquired at an average cost of $41.05 per share, with a total value of $205,250.00. Following the acquisition, the director now directly owns 51,932 shares of the company’s stock, valued at $2,131,808.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 11.15% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace LLP acquired a new position in shares of Timken in the 3rd quarter worth approximately $4,654,000. HM Payson & Co. acquired a new position in shares of Timken in the 3rd quarter worth approximately $223,000. Glenmede Trust Co. NA boosted its holdings in shares of Timken by 34.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 8,231 shares of the industrial products company’s stock worth $410,000 after acquiring an additional 2,131 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Timken by 50.8% in the 3rd quarter. Macquarie Group Ltd. now owns 37,100 shares of the industrial products company’s stock worth $1,849,000 after acquiring an additional 12,500 shares in the last quarter. Finally, Verition Fund Management LLC boosted its holdings in shares of Timken by 260.9% in the 3rd quarter. Verition Fund Management LLC now owns 41,132 shares of the industrial products company’s stock worth $2,050,000 after acquiring an additional 29,736 shares in the last quarter. 78.88% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Article: What Are Treasury Bonds?
Receive News & Ratings for Timken Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Timken and related companies with MarketBeat.com's FREE daily email newsletter.