Timken (NYSE:TKR) Price Target Increased to $95.00 by Analysts at KeyCorp

Timken (NYSE:TKR) had its target price boosted by KeyCorp from $91.00 to $95.00 in a report released on Thursday morning, Benzinga reports. KeyCorp currently has an overweight rating on the industrial products company’s stock.

Other research analysts have also recently issued reports about the stock. Oppenheimer reissued an outperform rating and issued a $100.00 price objective (up from $97.00) on shares of Timken in a research note on Thursday, March 21st. Morgan Stanley started coverage on Timken in a research report on Monday, January 8th. They set an equal weight rating and a $74.00 price objective for the company. DA Davidson assumed coverage on Timken in a research report on Tuesday, January 23rd. They issued a buy rating and a $92.00 target price on the stock. StockNews.com cut shares of Timken from a buy rating to a hold rating in a report on Wednesday, February 21st. Finally, Evercore ISI lowered shares of Timken from an outperform rating to an in-line rating and set a $84.00 price target on the stock. in a report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $87.09.

Timken Trading Up 0.4 %

TKR stock opened at $89.49 on Thursday. Timken has a 52 week low of $65.71 and a 52 week high of $95.08. The company has a market capitalization of $6.30 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 1.21 and a beta of 1.51. The company’s 50-day simple moving average is $86.12 and its 200 day simple moving average is $80.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.96 and a current ratio of 1.87.

Timken (NYSE:TKR) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.50 by $0.27. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Timken had a net margin of 7.99% and a return on equity of 17.98%. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period last year, the firm earned $2.09 earnings per share. As a group, sell-side analysts anticipate that Timken will post 6.18 earnings per share for the current year.

Timken Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.52%. This is an increase from Timken’s previous quarterly dividend of $0.33. The ex-dividend date is Monday, May 13th. Timken’s dividend payout ratio (DPR) is 25.14%.

Hedge Funds Weigh In On Timken

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fidelis Capital Partners LLC acquired a new position in shares of Timken in the 1st quarter worth approximately $26,000. Livelsberger Financial Advisory acquired a new position in Timken in the fourth quarter valued at $30,000. GAMMA Investing LLC bought a new stake in Timken during the fourth quarter valued at $35,000. Anchor Investment Management LLC acquired a new stake in Timken during the 4th quarter worth about $58,000. Finally, CWM LLC raised its position in shares of Timken by 50.0% in the 3rd quarter. CWM LLC now owns 906 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 302 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

About Timken

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.