Timken Company (The) (NYSE:TKR) Rating Lowered to Buy at Goldman Sachs Group, Inc. (The)

Timken Company (The) (NYSE:TKR) was downgraded by research analysts at Goldman Sachs Group, Inc. (The) from a “conviction-buy” rating to a “buy” rating in a report released on Monday, August 7th. They presently have a $51.00 target price on the industrial products company’s stock, down from their prior target price of $55.00. Goldman Sachs Group, Inc. (The)’s price objective suggests a potential upside of 19.16% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus boosted their price target on shares of Timken Company (The) from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, April 28th. BidaskClub raised shares of Timken Company (The) from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $45.00 target price on shares of Timken Company (The) in a research report on Tuesday, April 18th. Zacks Investment Research raised shares of Timken Company (The) from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Wednesday, July 26th. Finally, ValuEngine raised shares of Timken Company (The) from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $46.83.

Shares of Timken Company (TKR) traded down 0.53% during trading on Monday, reaching $42.80. 437,653 shares of the company traded hands. The firm’s 50 day moving average is $46.18 and its 200-day moving average is $45.55. Timken Company has a 12-month low of $31.60 and a 12-month high of $51.75. The stock has a market capitalization of $3.33 billion, a P/E ratio of 21.24 and a beta of 1.38.

Timken Company (The) (NYSE:TKR) last announced its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. The firm had revenue of $750.60 million for the quarter, compared to analysts’ expectations of $716.50 million. Timken Company (The) had a net margin of 5.98% and a return on equity of 12.73%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. On average, equities research analysts anticipate that Timken Company will post $2.57 earnings per share for the current fiscal year.

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In other news, Director Jacqueline F. Woods sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $46.02, for a total transaction of $59,826.00. Following the transaction, the director now directly owns 19,249 shares in the company, valued at $885,838.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 11.08% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Timken Company (The) by 5,786.0% in the first quarter. BlackRock Inc. now owns 5,674,424 shares of the industrial products company’s stock worth $256,485,000 after buying an additional 5,578,018 shares during the period. Vanguard Group Inc. increased its stake in shares of Timken Company (The) by 15.0% in the second quarter. Vanguard Group Inc. now owns 7,048,216 shares of the industrial products company’s stock valued at $325,981,000 after buying an additional 917,902 shares in the last quarter. AJO LP bought a new stake in shares of Timken Company (The) during the second quarter valued at $38,485,000. Wellington Management Group LLP increased its stake in shares of Timken Company (The) by 38.4% in the first quarter. Wellington Management Group LLP now owns 2,211,031 shares of the industrial products company’s stock valued at $99,939,000 after buying an additional 613,258 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Timken Company (The) by 428.7% in the first quarter. Victory Capital Management Inc. now owns 639,973 shares of the industrial products company’s stock valued at $28,927,000 after buying an additional 518,933 shares in the last quarter. Institutional investors and hedge funds own 76.85% of the company’s stock.

About Timken Company (The)

The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.

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