Timken (NYSE:TKR) Upgraded at Morgan Stanley

Timken (NYSE:TKR) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Tuesday. The firm presently has a $93.00 price objective on the industrial products company’s stock, up from their prior price objective of $82.00. Morgan Stanley’s price target points to a potential upside of 24.23% from the company’s current price.

Several other equities research analysts have also issued reports on TKR. Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and lifted their target price for the company from $80.00 to $95.00 in a research report on Friday, December 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Oppenheimer reduced their target price on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. DA Davidson dropped their price target on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $87.00 to $91.00 in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.90.

Timken Price Performance

TKR stock opened at $74.86 on Tuesday. The firm has a 50 day moving average of $79.47 and a 200-day moving average of $81.37. The firm has a market capitalization of $5.25 billion, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 1.12 and a beta of 1.38. Timken has a 12 month low of $72.35 and a 12 month high of $94.71. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71.

Timken (NYSE:TKR) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. Timken’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.55 earnings per share. As a group, sell-side analysts predict that Timken will post 5.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the sale, the director now directly owns 194,485 shares in the company, valued at $14,895,606.15. This represents a 13.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Coastline Trust Co purchased a new position in shares of Timken in the third quarter worth $29,000. Livelsberger Financial Advisory bought a new position in shares of Timken during the 3rd quarter valued at about $32,000. UMB Bank n.a. grew its position in shares of Timken by 64.1% during the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 168 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Timken in the second quarter worth about $44,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Timken in the third quarter worth about $74,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

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.