Timken (TKR) Upgraded by Longbow Research to “Buy”

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.

Timken (NYSE:TKR) last issued its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. Timken had a net margin of 6.88% and a return on equity of 13.75%. The business had revenue of $771.40 million during the quarter, compared to analysts’ expectations of $758.91 million. During the same period in the previous year, the company earned $0.53 earnings per share. Timken’s revenue for the quarter was up 17.3% on a year-over-year basis. research analysts anticipate that Timken will post 2.62 EPS for the current fiscal year.

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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About Timken

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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