Timken (NYSE:TKR) Price Target Raised to $75.00

Timken (NYSE:TKR) had its price target increased by Citigroup from $70.00 to $75.00 in a report published on Thursday,Benzinga reports. Citigroup currently has a buy rating on the industrial products company’s stock.

Several other equities analysts have also recently issued reports on TKR. The Goldman Sachs Group lowered their price objective on Timken from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $73.00 to $78.00 in a research note on Tuesday, February 4th. Evercore ISI boosted their price objective on Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Oppenheimer reduced their price target on shares of Timken from $90.00 to $88.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $70.00 target price (down from $90.00) on shares of Timken in a report on Wednesday, April 2nd. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $80.20.

Timken Stock Up 0.3 %

Shares of NYSE:TKR opened at $68.62 on Thursday. The firm has a market capitalization of $4.80 billion, a P/E ratio of 13.75, a P/E/G ratio of 1.51 and a beta of 1.30. The stock has a 50 day moving average price of $67.77 and a 200-day moving average price of $74.00. Timken has a 52-week low of $56.20 and a 52-week high of $93.66. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.03). Timken had a net margin of 7.71% and a return on equity of 13.93%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the business posted $1.77 EPS. Timken’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities research analysts anticipate that Timken will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.04%. This is a boost from Timken’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, May 13th. Timken’s payout ratio is 30.17%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Pinnacle Associates Ltd. lifted its position in shares of Timken by 0.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 25,605 shares of the industrial products company’s stock worth $1,840,000 after purchasing an additional 155 shares during the period. First Horizon Advisors Inc. increased its stake in Timken by 8.7% during the 4th quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 158 shares in the last quarter. Blue Trust Inc. lifted its position in Timken by 9.2% during the 1st quarter. Blue Trust Inc. now owns 2,050 shares of the industrial products company’s stock worth $147,000 after acquiring an additional 173 shares during the period. Amundi boosted its position in Timken by 25.8% in the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after buying an additional 174 shares during the last quarter. Finally, Ethic Inc. increased its stake in shares of Timken by 2.8% in the fourth quarter. Ethic Inc. now owns 6,882 shares of the industrial products company’s stock worth $491,000 after acquiring an additional 188 shares during the period. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

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.