Evercore ISI Boosts Timken (NYSE:TKR) Price Target to $102.00

Timken (NYSE:TKR) had its price objective boosted by Evercore ISI from $91.00 to $102.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

A number of other research analysts have also recently commented on TKR. Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $73.00 to $78.00 in a research note on Tuesday, February 4th. Citigroup dropped their price objective on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. DA Davidson dropped their price target on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Morgan Stanley raised their price objective on Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Finally, Oppenheimer decreased their price objective on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $92.70.

Timken Price Performance

Shares of Timken stock opened at $83.25 on Wednesday. The stock has a market capitalization of $5.84 billion, a P/E ratio of 16.68, a PEG ratio of 1.49 and a beta of 1.39. Timken has a 12 month low of $69.35 and a 12 month high of $94.71. The business has a 50 day simple moving average of $76.34 and a two-hundred day simple moving average of $79.30. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61.

Timken (NYSE:TKR) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. As a group, analysts predict that Timken will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Tuesday, February 25th. Timken’s dividend payout ratio (DPR) is 27.25%.

Insider Transactions at Timken

In other news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction on Friday, February 7th. The stock was sold at an average price of $81.50, for a total value of $407,500.00. Following the completion of the sale, the chief financial officer now owns 90,541 shares of the company’s stock, valued at $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Timken

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Timken by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 6,465,760 shares of the industrial products company’s stock worth $461,461,000 after purchasing an additional 26,973 shares during the period. American Century Companies Inc. boosted its position in Timken by 11.3% in the 4th quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company’s stock valued at $225,436,000 after buying an additional 320,354 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Timken by 4.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock valued at $225,880,000 after purchasing an additional 107,350 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Timken by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,233,493 shares of the industrial products company’s stock worth $159,403,000 after buying an additional 124,676 shares during the last quarter. Finally, State Street Corp lifted its holdings in Timken by 3.5% during the 3rd quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock worth $164,689,000 after buying an additional 66,208 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Company Profile

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.