Timken (NYSE:TKR) Price Target Raised to $64.00 at Stifel Nicolaus

Timken (NYSE:TKR) had its target price upped by Stifel Nicolaus from $58.00 to $64.00 in a research report released on Friday morning, BenzingaRatingsTable reports. Stifel Nicolaus currently has a buy rating on the industrial products company’s stock.

A number of other brokerages also recently issued reports on TKR. KeyCorp increased their price objective on shares of Timken from $60.00 to $70.00 and gave the stock an overweight rating in a research note on Friday. Bank of America raised their target price on shares of Timken from $50.00 to $53.00 and gave the company an underperform rating in a report on Tuesday. Morgan Stanley boosted their target price on shares of Timken from $52.00 to $57.00 and gave the company an equal weight rating in a research report on Friday. ValuEngine raised shares of Timken from a strong sell rating to a sell rating in a report on Thursday, October 31st. Finally, Zacks Investment Research lowered shares of Timken from a hold rating to a strong sell rating and set a $56.00 price target on the stock. in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Timken presently has a consensus rating of Hold and an average price target of $59.33.

NYSE TKR traded down $0.42 during midday trading on Friday, hitting $56.50. The company had a trading volume of 1,141,178 shares, compared to its average volume of 446,436. The firm has a 50-day moving average price of $52.28 and a 200-day moving average price of $46.67. The company has a market capitalization of $4.09 billion, a PE ratio of 13.52, a P/E/G ratio of 1.42 and a beta of 1.83. The company has a current ratio of 2.57, a quick ratio of 1.42 and a debt-to-equity ratio of 0.89. Timken has a twelve month low of $33.98 and a twelve month high of $58.51.

Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.14 EPS for the quarter, missing the Zacks’ consensus estimate of $1.18 by ($0.04). The company had revenue of $914.00 million during the quarter, compared to the consensus estimate of $945.87 million. Timken had a return on equity of 21.12% and a net margin of 8.11%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.06 EPS. On average, equities analysts anticipate that Timken will post 4.72 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Friday, November 22nd were paid a $0.28 dividend. This is a positive change from Timken’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, November 21st. This represents a $1.12 annualized dividend and a dividend yield of 1.98%. Timken’s dividend payout ratio (DPR) is presently 26.79%.

In other news, CFO Philip D. Fracassa sold 5,234 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $53.03, for a total value of $277,559.02. Following the sale, the chief financial officer now directly owns 60,995 shares in the company, valued at approximately $3,234,564.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard G. Kyle sold 14,600 shares of Timken stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $53.85, for a total transaction of $786,210.00. Following the sale, the chief executive officer now directly owns 187,190 shares in the company, valued at $10,080,181.50. The disclosure for this sale can be found here. Insiders have sold a total of 77,977 shares of company stock valued at $4,145,196 in the last three months. 11.58% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Timken by 0.6% during the second quarter. Vanguard Group Inc. now owns 6,465,944 shares of the industrial products company’s stock worth $331,961,000 after buying an additional 35,795 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Timken by 1.0% in the 2nd quarter. BlackRock Inc. now owns 6,294,669 shares of the industrial products company’s stock valued at $323,168,000 after acquiring an additional 64,489 shares during the last quarter. Boston Partners lifted its stake in shares of Timken by 5.3% in the 2nd quarter. Boston Partners now owns 2,328,332 shares of the industrial products company’s stock valued at $119,344,000 after acquiring an additional 117,943 shares during the last quarter. Earnest Partners LLC boosted its holdings in shares of Timken by 0.8% during the 2nd quarter. Earnest Partners LLC now owns 1,951,019 shares of the industrial products company’s stock valued at $100,165,000 after acquiring an additional 14,670 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Timken by 4.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,506,293 shares of the industrial products company’s stock valued at $65,539,000 after acquiring an additional 65,205 shares in the last quarter. 76.11% of the stock is owned by institutional investors and hedge funds.

Timken Company Profile

The Timken Company engineers, manufactures, and markets engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.

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