Timken (NYSE:TKR) Given New $100.00 Price Target at Stifel Nicolaus

Timken (NYSE:TKR) had its price target raised by Stifel Nicolaus from $92.00 to $100.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other brokerages also recently weighed in on TKR. DA Davidson began coverage on shares of Timken in a research note on Tuesday, January 23rd. They set a buy rating and a $92.00 target price for the company. Evercore ISI downgraded Timken from an outperform rating to an in-line rating and set a $84.00 target price on the stock. in a report on Tuesday, February 20th. Oppenheimer restated an outperform rating and set a $100.00 price target (up from $97.00) on shares of Timken in a report on Thursday, March 21st. Morgan Stanley started coverage on Timken in a research report on Monday, January 8th. They issued an equal weight rating and a $74.00 price target for the company. Finally, StockNews.com downgraded shares of Timken from a buy rating to a hold rating in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $87.09.

Timken Price Performance

Shares of Timken stock opened at $89.49 on Wednesday. The firm has a market capitalization of $6.30 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 1.20 and a beta of 1.51. The company has a current ratio of 1.87, a quick ratio of 0.96 and a debt-to-equity ratio of 0.66. Timken has a 12 month low of $65.71 and a 12 month high of $95.08. The business’s 50-day moving average price is $86.12 and its 200-day moving average price is $79.96.

Timken (NYSE:TKR) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.15 billion. Timken had a return on equity of 17.98% and a net margin of 7.99%. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.09 earnings per share. Sell-side analysts forecast that Timken will post 6.18 EPS for the current fiscal year.

Timken Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be given a $0.34 dividend. The ex-dividend date is Monday, May 13th. This is a positive change from Timken’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.52%. Timken’s dividend payout ratio is 25.14%.

Institutional Investors Weigh In On Timken

A number of hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Timken in the 4th quarter worth approximately $56,995,000. Fiduciary Management Inc. WI grew its position in shares of Timken by 94.7% in the 4th quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock valued at $90,816,000 after buying an additional 551,097 shares during the last quarter. Provident Investment Management Inc. purchased a new stake in shares of Timken in the 3rd quarter valued at about $23,408,000. Stansberry Asset Management LLC purchased a new stake in Timken in the 3rd quarter valued at $16,422,000. Finally, Atlantic Investment Management Inc. grew its holdings in shares of Timken by 69.4% during the third quarter. Atlantic Investment Management Inc. now owns 520,093 shares of the industrial products company’s stock worth $38,222,000 after buying an additional 213,000 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Company Profile

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.