Longbow Research upgraded shares of Timken (NYSE:TKR) from a neutral rating to a buy rating in a report released on Tuesday, MarketBeat.com reports.
TKR has been the subject of a number of other reports. Jefferies Group restated a hold rating and issued a $50.00 price objective on shares of Timken in a research note on Thursday, October 26th. Zacks Investment Research cut shares of Timken from a buy rating to a hold rating in a research note on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $52.00.
Shares of Timken (NYSE:TKR) opened at $51.10 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.59 and a quick ratio of 1.38. Timken has a one year low of $40.95 and a one year high of $53.10. The firm has a market cap of $3,970.00, a price-to-earnings ratio of 20.36, a PEG ratio of 1.42 and a beta of 1.50.
In related news, insider Richard G. Kyle sold 9,242 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $49.75, for a total transaction of $459,789.50. Following the completion of the transaction, the insider now directly owns 89,236 shares in the company, valued at approximately $4,439,491. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 11.08% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in TKR. Vanguard Group Inc. raised its stake in Timken by 15.0% during the 2nd quarter. Vanguard Group Inc. now owns 7,048,216 shares of the industrial products company’s stock valued at $325,981,000 after purchasing an additional 917,902 shares during the last quarter. AJO LP acquired a new position in Timken during the 2nd quarter valued at $38,485,000. Koch Industries Inc. acquired a new position in Timken during the 2nd quarter valued at $375,000. Renaissance Technologies LLC acquired a new position in Timken during the 2nd quarter valued at $17,219,000. Finally, Uniplan Investment Counsel Inc. acquired a new position in Timken during the 2nd quarter valued at $12,859,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.
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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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