Timken (NYSE:TKR) Coverage Initiated by Analysts at Raymond James

Raymond James began coverage on shares of Timken (NYSE:TKR) in a report published on Friday morning, Marketbeat reports. The brokerage issued a market perform rating on the industrial products company’s stock.

TKR has been the topic of a number of other reports. Stifel Nicolaus boosted their price objective on Timken from $92.00 to $100.00 and gave the company a buy rating in a research report on Wednesday, May 1st. Loop Capital increased their price objective on shares of Timken from $78.00 to $87.00 and gave the company a hold rating in a research note on Wednesday, May 1st. Oppenheimer reiterated an outperform rating and set a $100.00 target price (up from $97.00) on shares of Timken in a research report on Thursday, March 21st. Finally, KeyCorp increased their price target on shares of Timken from $95.00 to $104.00 and gave the stock an overweight rating in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Timken has a consensus rating of Hold and an average price target of $87.91.

Timken Trading Down 1.4 %

Shares of TKR stock opened at $78.99 on Friday. The firm has a market capitalization of $5.56 billion, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 1.70 and a beta of 1.46. Timken has a 1 year low of $65.71 and a 1 year high of $95.08. The firm’s fifty day simple moving average is $86.06 and its 200 day simple moving average is $83.95. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 0.66.

Timken (NYSE:TKR) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.27. Timken had a net margin of 7.99% and a return on equity of 17.98%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the firm posted $2.09 EPS. The business’s revenue was down 5.7% compared to the same quarter last year. As a group, sell-side analysts predict that Timken will post 6.2 EPS for the current year.

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.72%. This is a boost from Timken’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Monday, May 13th. Timken’s dividend payout ratio (DPR) is currently 25.90%.

Insiders Place Their Bets

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

Institutional Trading of Timken

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new stake in shares of Timken during the 1st quarter worth approximately $26,000. EverSource Wealth Advisors LLC grew its holdings in Timken by 1,905.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 343 shares during the period. Livelsberger Financial Advisory bought a new stake in shares of Timken during the 4th quarter valued at $30,000. GAMMA Investing LLC acquired a new position in shares of Timken in the 4th quarter valued at $35,000. Finally, Manchester Capital Management LLC boosted its position in shares of Timken by 51.3% in the 1st quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 205 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

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.