Morgan Stanley Issues Positive Forecast for Timken (NYSE:TKR) Stock Price

Timken (NYSE:TKR) had its price objective upped by Morgan Stanley from $93.00 to $94.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

A number of other equities research analysts also recently commented on TKR. Citigroup dropped their price objective on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. DA Davidson decreased their price objective on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Jefferies Financial Group raised Timken from a “hold” rating to a “buy” rating and raised their price target for the stock from $80.00 to $95.00 in a report on Friday, December 6th. Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Finally, Oppenheimer dropped their target price on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.60.

Timken Trading Up 1.4 %

NYSE TKR opened at $83.21 on Tuesday. The firm’s 50-day moving average is $75.88 and its two-hundred day moving average is $79.38. The stock has a market capitalization of $5.83 billion, a P/E ratio of 16.68, a PEG ratio of 1.21 and a beta of 1.39. Timken has a 12 month low of $69.35 and a 12 month high of $94.71. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.62.

Timken (NYSE:TKR) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. On average, sell-side analysts anticipate that Timken will post 5.6 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Philip D. Fracassa sold 5,000 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $81.50, for a total value of $407,500.00. Following the completion of the sale, the chief financial officer now directly owns 90,541 shares of the company’s stock, valued at approximately $7,379,091.50. This represents a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Timken

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TKR. Victory Capital Management Inc. grew its holdings in shares of Timken by 418.4% during the 4th quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company’s stock valued at $62,959,000 after acquiring an additional 711,979 shares in the last quarter. Norges Bank acquired a new stake in Timken during the fourth quarter valued at $42,748,000. Hotchkis & Wiley Capital Management LLC grew its stake in Timken by 34.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock valued at $143,376,000 after purchasing an additional 434,800 shares in the last quarter. American Century Companies Inc. increased its position in Timken by 11.3% in the 4th quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company’s stock worth $225,436,000 after purchasing an additional 320,354 shares during the last quarter. Finally, Royce & Associates LP raised its stake in shares of Timken by 108.9% during the 4th quarter. Royce & Associates LP now owns 397,895 shares of the industrial products company’s stock worth $28,398,000 after purchasing an additional 207,439 shares in the last quarter. Hedge funds and other institutional investors 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.