Timken (NYSE:TKR) Price Target Raised to $88.00 at KeyCorp

Timken (NYSE:TKRGet Rating) had its price objective hoisted by KeyCorp from $75.00 to $88.00 in a report issued on Monday, The Fly reports. They currently have an overweight rating on the industrial products company’s stock.

Other equities research analysts have also recently issued reports about the stock. Oppenheimer upped their price objective on shares of Timken from $77.00 to $80.00 and gave the stock an outperform rating in a report on Friday, September 30th. Morgan Stanley upped their price objective on shares of Timken from $69.00 to $70.00 and gave the stock an equal weight rating in a report on Thursday, October 27th. StockNews.com upgraded shares of Timken from a buy rating to a strong-buy rating in a report on Friday, October 28th. Finally, Citigroup upped their price objective on shares of Timken to $78.00 in a report on Tuesday, November 1st. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $76.63.

Timken Trading Down 0.8 %

Timken stock opened at $74.57 on Monday. The stock has a market cap of $5.42 billion, a P/E ratio of 14.97, a P/E/G ratio of 1.05 and a beta of 1.58. Timken has a 12 month low of $50.85 and a 12 month high of $75.80. The company’s fifty day simple moving average is $67.22 and its 200-day simple moving average is $62.80. The company has a quick ratio of 1.09, a current ratio of 2.03 and a debt-to-equity ratio of 0.65.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Monday, November 21st will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Friday, November 18th. Timken’s dividend payout ratio is 24.90%.

Insiders Place Their Bets

In other news, Director Jacqueline F. Woods sold 1,798 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $74.64, for a total transaction of $134,202.72. Following the completion of the transaction, the director now owns 14,770 shares of the company’s stock, valued at $1,102,432.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jacqueline F. Woods sold 1,798 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $74.64, for a total transaction of $134,202.72. Following the completion of the transaction, the director now owns 14,770 shares of the company’s stock, valued at $1,102,432.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Hansal N. Patel sold 1,247 shares of the company’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $72.83, for a total transaction of $90,819.01. Following the transaction, the vice president now directly owns 6,309 shares of the company’s stock, valued at approximately $459,484.47. The disclosure for this sale can be found here. Insiders sold a total of 67,244 shares of company stock valued at $4,853,869 in the last quarter. Insiders own 10.79% of the company’s stock.

Institutional Trading of Timken

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kovitz Investment Group Partners LLC grew its stake in shares of Timken by 1.0% during the third quarter. Kovitz Investment Group Partners LLC now owns 13,908 shares of the industrial products company’s stock valued at $821,000 after purchasing an additional 144 shares during the last quarter. Inspire Investing LLC lifted its holdings in Timken by 4.1% in the second quarter. Inspire Investing LLC now owns 3,999 shares of the industrial products company’s stock valued at $212,000 after buying an additional 158 shares during the period. IFP Advisors Inc lifted its holdings in Timken by 8.4% in the third quarter. IFP Advisors Inc now owns 2,159 shares of the industrial products company’s stock valued at $103,000 after buying an additional 167 shares during the period. Ronald Blue Trust Inc. lifted its holdings in Timken by 28.8% in the third quarter. Ronald Blue Trust Inc. now owns 818 shares of the industrial products company’s stock valued at $43,000 after buying an additional 183 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in Timken by 5.3% in the first quarter. Sequoia Financial Advisors LLC now owns 3,785 shares of the industrial products company’s stock valued at $230,000 after buying an additional 189 shares during the period. Institutional investors own 81.39% of the company’s stock.

Timken Company Profile

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The Timken Company designs, manufactures, and manages 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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