Zacks Investment Research upgraded shares of Timken (NYSE:TKR) from a hold rating to a buy rating in a research note published on Tuesday. The brokerage currently has $56.00 price target on the industrial products company’s stock.
According to Zacks, “The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain and related products, and offers a spectrum of powertrain rebuild and repair services. The leading authority on tapered roller bearings, Timken today applies its deep knowledge of metallurgy, tribology and mechanical power transmission across a variety of bearings and related systems to improve reliability and efficiency of machinery and equipment all around the world. The company’s growing product and services portfolio features many strong industrial brands including Timken, Fafnir, Philadelphia Gear, Carlisle, Drives and Interlube. “
TKR has been the subject of a number of other research reports. Jefferies Group reaffirmed a hold rating and issued a $50.00 price objective on shares of Timken in a research note on Thursday, October 26th. Longbow Research raised shares of Timken from a neutral rating to a buy rating in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Timken currently has an average rating of Hold and an average price target of $52.25.
Timken (NYSE:TKR) last announced its quarterly earnings data on Wednesday, February 7th. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.01. Timken had a net margin of 6.77% and a return on equity of 14.55%. The company had revenue of $778.00 million during the quarter, compared to analysts’ expectations of $767.98 million. During the same quarter in the prior year, the company earned $0.47 EPS. The firm’s revenue was up 18.8% on a year-over-year basis. analysts forecast that Timken will post 3.3 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Tuesday, February 20th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.43%. Timken’s dividend payout ratio is currently 41.86%.
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 sale, the insider now directly owns 89,236 shares in the company, valued at approximately $4,439,491. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 11.08% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Sterling Capital Management LLC raised its holdings in Timken by 0.3% during the 2nd quarter. Sterling Capital Management LLC now owns 18,698 shares of the industrial products company’s stock valued at $865,000 after buying an additional 47 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Timken by 2.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 10,006 shares of the industrial products company’s stock valued at $463,000 after buying an additional 270 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in Timken by 0.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 55,066 shares of the industrial products company’s stock valued at $2,546,000 after buying an additional 487 shares during the last quarter. Advisor Group Inc. raised its holdings in Timken by 19.7% during the 2nd quarter. Advisor Group Inc. now owns 4,051 shares of the industrial products company’s stock valued at $187,000 after buying an additional 666 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in Timken by 5.9% during the 2nd quarter. HighTower Advisors LLC now owns 12,809 shares of the industrial products company’s stock valued at $592,000 after buying an additional 710 shares during the last quarter. Institutional investors own 79.33% of the company’s stock.
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Timken Company Profile
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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