DA Davidson Reiterates Neutral Rating for Timken (NYSE:TKR)

Timken (NYSE:TKR)‘s stock had its “neutral” rating reiterated by equities researchers at DA Davidson in a report released on Monday, MarketBeat.com reports. They currently have a $66.00 target price on the industrial products company’s stock, down from their prior target price of $97.00. DA Davidson’s price target would suggest a potential upside of 7.15% from the company’s current price.

TKR has been the subject of a number of other research reports. Morgan Stanley dropped their target price on shares of Timken from $94.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Jefferies Financial Group restated a “hold” rating and issued a $70.00 price target (down from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Loop Capital cut their target price on Timken from $85.00 to $65.00 and set a “hold” rating on the stock in a report on Thursday, April 17th. The Goldman Sachs Group lowered their price target on shares of Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Finally, Citigroup decreased their price objective on shares of Timken from $95.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Timken presently has an average rating of “Hold” and an average target price of $81.91.

Timken Trading Up 2.3 %

Shares of Timken stock opened at $61.60 on Monday. Timken has a 52-week low of $56.20 and a 52-week high of $94.71. The stock has a market cap of $4.31 billion, a PE ratio of 12.34, a PEG ratio of 1.51 and a beta of 1.28. The firm has a 50-day moving average of $71.68 and a 200-day moving average of $75.69. 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 quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts forecast that Timken will post 5.62 EPS for the current year.

Insider Activity

In related news, CFO Philip D. Fracassa sold 5,000 shares of the 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 directly owns 90,541 shares of the company’s stock, valued at approximately $7,379,091.50. This represents a 5.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.70% of the company’s stock.

Institutional Trading of Timken

Several institutional investors and hedge funds have recently made changes to their positions in TKR. Blue Trust Inc. boosted its holdings in Timken by 9.2% during the first quarter. Blue Trust Inc. now owns 2,050 shares of the industrial products company’s stock worth $147,000 after purchasing an additional 173 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Timken by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 35,118 shares of the industrial products company’s stock worth $2,523,000 after buying an additional 190 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Timken by 0.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 107,375 shares of the industrial products company’s stock worth $7,717,000 after buying an additional 273 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Timken by 2.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,476 shares of the industrial products company’s stock valued at $537,000 after acquiring an additional 188 shares in the last quarter. Finally, New England Research & Management Inc. increased its position in shares of Timken by 126.3% during the first quarter. New England Research & Management Inc. now owns 13,975 shares of the industrial products company’s stock valued at $1,004,000 after acquiring an additional 7,800 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

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.