Timken Co (NYSE:TKR) has been assigned a consensus recommendation of “Hold” from the six analysts that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $52.54.
A number of research firms recently commented on TKR. ValuEngine raised shares of WPP from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. Morgan Stanley set a $143.00 price objective on shares of FedEx and gave the stock a “hold” rating in a report on Monday, June 10th. Finally, Zacks Investment Research downgraded shares of Tribune Publishing from a “buy” rating to a “hold” rating in a report on Saturday.
In related news, insider Shelly Marie Chadwick sold 2,400 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $51.44, for a total transaction of $123,456.00. Following the transaction, the insider now owns 1,443 shares of the company’s stock, valued at $74,227.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ronald J. Myers sold 13,191 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $50.77, for a total transaction of $669,707.07. Following the transaction, the executive vice president now directly owns 18,987 shares in the company, valued at approximately $963,969.99. The disclosure for this sale can be found here. 11.58% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. JOYN Advisors Inc. increased its position in Timken by 23,766.7% during the fourth quarter. JOYN Advisors Inc. now owns 716 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 713 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in Timken by 22.4% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 1,555 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 285 shares during the last quarter. Bank of Montreal Can increased its position in Timken by 17.7% during the first quarter. Bank of Montreal Can now owns 2,427 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 365 shares during the last quarter. Xact Kapitalforvaltning AB acquired a new position in Timken during the second quarter worth approximately $226,000. Finally, World Asset Management Inc acquired a new position in Timken during the first quarter worth approximately $207,000. 77.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of Timken stock traded up $0.88 on Friday, reaching $48.37. 628,253 shares of the stock were exchanged, compared to its average volume of 566,426. Timken has a 1-year low of $33.98 and a 1-year high of $52.45. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.81 and a quick ratio of 1.58. The stock’s fifty day simple moving average is $47.92. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 0.96 and a beta of 1.77.
Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.11. The business had revenue of $979.70 million for the quarter, compared to analyst estimates of $983.81 million. Timken had a net margin of 8.55% and a return on equity of 21.51%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 earnings per share. On average, sell-side analysts anticipate that Timken will post 5.26 earnings per share for the current fiscal year.
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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