Timken (NYSE:TKR) Now Covered by Analysts at Raymond James

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

Several other brokerages have also recently issued reports on TKR. Loop Capital raised their target price on shares of Timken from $78.00 to $87.00 and gave the stock a hold rating in a report on Wednesday, May 1st. Oppenheimer reissued an outperform rating and issued a $100.00 price target (up previously from $97.00) on shares of Timken in a report on Thursday, March 21st. Stifel Nicolaus upped their price objective on shares of Timken from $92.00 to $100.00 and gave the company a buy rating in a research note on Wednesday, May 1st. Finally, KeyCorp raised their target price on Timken from $95.00 to $104.00 and gave the stock an overweight rating in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $87.91.

Timken Stock Performance

Timken stock opened at $78.99 on Friday. Timken has a fifty-two week low of $65.71 and a fifty-two week high of $95.08. The firm’s fifty day moving average price is $86.06 and its 200-day moving average price is $83.95. The stock has a market cap 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. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.02 and a current ratio of 1.87.

Timken (NYSE:TKR) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. Timken had a net margin of 7.99% and a return on equity of 17.98%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the business earned $2.09 earnings per share. The business’s quarterly revenue was down 5.7% on a year-over-year basis. On average, equities research analysts expect that Timken will post 6.2 earnings per share for the current fiscal year.

Timken Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Monday, May 13th. This is a positive change from Timken’s previous quarterly dividend of $0.33. Timken’s dividend payout ratio (DPR) is 25.90%.

Insider Buying and Selling at Timken

In other news, CEO Richard G. Kyle sold 20,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the completion of the sale, the chief executive officer now directly owns 366,799 shares of the company’s stock, valued at $32,678,122.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Christopher A. Coughlin sold 29,006 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 84,995 shares of the company’s stock, valued at approximately $7,590,053.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard G. Kyle sold 20,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total value of $1,781,800.00. Following the sale, the chief executive officer now owns 366,799 shares of the company’s stock, valued at approximately $32,678,122.91. The disclosure for this sale can be found here. Insiders sold 59,006 shares of company stock worth $5,269,636 over the last 90 days. Company insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Timken

Several institutional investors have recently bought and sold shares of TKR. Vanguard Group Inc. increased its holdings in shares of Timken by 5.6% during the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock valued at $569,691,000 after acquiring an additional 347,794 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Timken by 7.7% during the third quarter. American Century Companies Inc. now owns 1,826,547 shares of the industrial products company’s stock worth $134,233,000 after buying an additional 131,253 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Timken by 15.8% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,313,122 shares of the industrial products company’s stock valued at $105,247,000 after buying an additional 178,870 shares during the last quarter. Fiduciary Management Inc. WI increased its position in shares of Timken by 94.7% in the 4th quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock valued at $90,816,000 after acquiring an additional 551,097 shares during the period. Finally, AQR Capital Management LLC raised its stake in Timken by 16.8% in the 3rd quarter. AQR Capital Management LLC now owns 764,174 shares of the industrial products company’s stock worth $56,159,000 after acquiring an additional 109,767 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.