Timken (NYSE:TKR) Upgraded by Evercore ISI to Outperform Rating

Evercore ISI upgraded shares of Timken (NYSE:TKR) from an in-line rating to an outperform rating in a report issued on Wednesday morning, Marketbeat Ratings reports. Evercore ISI currently has $91.00 target price on the industrial products company’s stock, up from their previous target price of $87.00.

Other equities analysts also recently issued research reports about the stock. Citigroup initiated coverage on shares of Timken in a report on Monday, October 14th. They issued a “neutral” rating and a $90.00 price objective on the stock. KeyCorp dropped their price target on shares of Timken from $104.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. Oppenheimer reduced their price objective on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, DA Davidson cut their price target on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Timken presently has a consensus rating of “Hold” and an average target price of $90.00.

Timken Stock Down 0.2 %

Shares of Timken stock opened at $74.50 on Wednesday. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. Timken has a twelve month low of $71.57 and a twelve month high of $94.71. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The company’s 50 day moving average is $82.03 and its 200 day moving average is $83.53.

Timken (NYSE:TKR) last issued its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a return on equity of 14.82% and a net margin of 7.41%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the firm earned $1.55 EPS. The business’s revenue was down 1.4% on a year-over-year basis. Research analysts anticipate that Timken will post 5.62 EPS for the current year.

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Tuesday, November 19th. Timken’s payout ratio is currently 28.27%.

Insider Buying and Selling at Timken

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the completion of the transaction, the director now owns 194,485 shares of the company’s stock, valued at $14,895,606.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning grew its stake in shares of Timken by 1.7% in the 2nd quarter. Creative Planning now owns 9,123 shares of the industrial products company’s stock worth $731,000 after buying an additional 150 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Timken by 3.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company’s stock worth $407,000 after acquiring an additional 155 shares during the last quarter. Beese Fulmer Investment Management Inc. raised its position in Timken by 1.0% during the third quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company’s stock valued at $1,282,000 after purchasing an additional 155 shares during the period. Blue Trust Inc. lifted its stake in shares of Timken by 20.0% in the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 166 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of Timken by 64.1% during the 3rd 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 during the last quarter. 89.08% of the stock is owned by hedge funds and other 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.