Timken (NYSE:TKR) Price Target Lowered to $65.00 at Loop Capital

Timken (NYSE:TKR) had its price objective cut by Loop Capital from $85.00 to $65.00 in a report published on Thursday,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

Other analysts also recently issued reports about the stock. Morgan Stanley cut their price target on shares of Timken from $94.00 to $88.00 and set an “overweight” rating on the stock in a research report on Wednesday. The Goldman Sachs Group cut their target price on shares of Timken from $85.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Citigroup decreased their price target on shares of Timken from $95.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $73.00 to $78.00 in a research note on Tuesday, February 4th. Finally, Evercore ISI boosted their target price on Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Timken presently has an average rating of “Moderate Buy” and an average target price of $84.91.

Timken Price Performance

Shares of TKR stock opened at $61.39 on Thursday. The firm’s 50 day moving average price is $72.97 and its two-hundred day moving average price is $76.19. The stock has a market cap of $4.30 billion, a PE ratio of 12.30, a PEG ratio of 1.51 and a beta of 1.28. Timken has a 52-week low of $56.20 and a 52-week high of $94.71. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07.

Timken (NYSE:TKR) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. As a group, analysts forecast that Timken will post 5.62 EPS for the current year.

Timken Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Tuesday, February 25th. Timken’s dividend payout ratio (DPR) is presently 27.25%.

Insiders Place Their Bets

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the sale, the chief financial officer now directly owns 90,541 shares in the company, valued at $7,379,091.50. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Timken

Several institutional investors and hedge funds have recently made changes to their positions in TKR. First Horizon Advisors Inc. boosted its stake in Timken by 8.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 158 shares during the period. Amundi raised its stake in Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 174 shares in the last quarter. Ethic Inc. grew its position in shares of Timken by 2.8% during the 4th quarter. Ethic Inc. now owns 6,882 shares of the industrial products company’s stock worth $491,000 after purchasing an additional 188 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Timken by 2.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,476 shares of the industrial products company’s stock worth $537,000 after purchasing an additional 188 shares during the period. Finally, Sheets Smith Wealth Management raised its position in shares of Timken by 3.4% in the fourth quarter. Sheets Smith Wealth Management now owns 5,856 shares of the industrial products company’s stock valued at $418,000 after buying an additional 190 shares in the last quarter. Institutional investors and hedge funds 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.