Timken (NYSE:TKR) PT Raised to $104.00 at KeyCorp

Timken (NYSE:TKR) had its target price lifted by equities research analysts at KeyCorp from $95.00 to $104.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price target points to a potential upside of 15.04% from the stock’s previous close.

A number of other analysts also recently issued reports on TKR. Stifel Nicolaus boosted their price objective on shares of Timken from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Evercore ISI cut shares of Timken from an “outperform” rating to an “in-line” rating and set a $84.00 target price for the company. in a research report on Tuesday, February 20th. The Goldman Sachs Group boosted their target price on shares of Timken from $78.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, February 6th. StockNews.com cut shares of Timken from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Finally, Loop Capital boosted their target price on shares of Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Timken has a consensus rating of “Hold” and a consensus target price of $87.91.

Timken Stock Down 1.5 %

Timken stock opened at $90.40 on Thursday. The firm has a market capitalization of $6.37 billion, a PE ratio of 17.22, a P/E/G ratio of 1.95 and a beta of 1.51. The company’s 50-day moving average is $87.77 and its 200-day moving average is $81.95. Timken has a fifty-two week low of $65.71 and a fifty-two week high of $95.08. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.02.

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

Insider Activity

In other news, EVP Christopher A. Coughlin sold 29,006 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total value of $2,590,235.80. Following the sale, the executive vice president now directly owns 84,995 shares of the company’s stock, valued at approximately $7,590,053.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Philip D. Fracassa sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $89.76, for a total transaction of $897,600.00. Following the transaction, the chief financial officer now directly owns 105,541 shares of the company’s stock, valued at $9,473,360.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher A. Coughlin sold 29,006 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the transaction, the executive vice president now directly owns 84,995 shares in the company, valued at $7,590,053.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,006 shares of company stock valued at $5,269,636. 8.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. lifted its position in shares of Timken by 3.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company’s stock valued at $407,000 after purchasing an additional 155 shares in the last quarter. Treasurer of the State of North Carolina raised its position in Timken by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 34,728 shares of the industrial products company’s stock worth $2,552,000 after acquiring an additional 161 shares during the period. Quadrant Capital Group LLC raised its position in Timken by 10.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,954 shares of the industrial products company’s stock worth $157,000 after acquiring an additional 179 shares during the period. Arizona State Retirement System raised its position in Timken by 1.1% in the third quarter. Arizona State Retirement System now owns 18,551 shares of the industrial products company’s stock worth $1,363,000 after acquiring an additional 194 shares during the period. Finally, Manchester Capital Management LLC raised its position in Timken by 51.3% in the first quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 205 shares during the period. 89.08% of the stock is owned by institutional investors.

About Timken

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.