Shares of Timken Co. (NYSE:TKR) fell 2.8% during trading on Thursday . The stock traded as low as $30.72 and last traded at $30.72, with a volume of 547,723 shares changing hands. The stock had previously closed at $31.60.

Several brokerages have recently commented on TKR. Topeka Capital Markets began coverage on shares of Timken in a report on Thursday, May 26th. They issued a “hold” rating and a $35.00 target price for the company. Zacks Investment Research downgraded shares of Timken from a “buy” rating to a “hold” rating in a report on Saturday, April 30th. Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 target price (up previously from $34.00) on shares of Timken in a report on Thursday, April 28th. Goldman Sachs Group Inc. downgraded shares of Timken from a “buy” rating to a “neutral” rating and lowered their target price for the company from $31.00 to $30.00 in a report on Monday, March 28th. They noted that the move was a valuation call. Finally, Avondale Partners upgraded shares of Timken from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a report on Monday, July 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $33.33.

The firm’s 50-day moving average is $31.85 and its 200-day moving average is $31.32. The company has a market capitalization of $2.46 billion and a P/E ratio of 20.31.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, April 27th. The company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.03. The business had revenue of $684 million for the quarter, compared to the consensus estimate of $666.88 million. During the same quarter last year, the firm posted $0.50 EPS. The business’s quarterly revenue was down 5.3% on a year-over-year basis. Equities research analysts forecast that Timken Co. will post $1.94 EPS for the current year.

In other news, Director Jacqueline F. Woods sold 2,500 shares of the business’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $33.74, for a total transaction of $84,350.00. Following the sale, the director now owns 18,017 shares in the company, valued at approximately $607,893.58. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jacqueline F. Woods sold 1,250 shares of the business’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $33.27, for a total transaction of $41,587.50. Following the sale, the director now owns 20,517 shares in the company, valued at approximately $682,600.59. The disclosure for this sale can be found here.

Several hedge funds have made changes to their positions in the stock. Eaton Vance Management boosted its stake in shares of Timken by 1.8% in the fourth quarter. Eaton Vance Management now owns 44,471 shares of the company’s stock worth $1,271,000 after buying an additional 800 shares during the period. Schroder Investment Management Group boosted its stake in shares of Timken by 26.4% in the fourth quarter. Schroder Investment Management Group now owns 606,423 shares of the company’s stock worth $17,337,000 after buying an additional 126,523 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Timken by 0.8% in the fourth quarter. Principal Financial Group Inc. now owns 231,643 shares of the company’s stock worth $6,622,000 after buying an additional 1,736 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of Timken by 11.1% in the fourth quarter. Ameritas Investment Partners Inc. now owns 47,082 shares of the company’s stock worth $1,345,000 after buying an additional 4,700 shares during the period. Finally, Morgan Stanley boosted its stake in shares of Timken by 94.8% in the fourth quarter. Morgan Stanley now owns 740,235 shares of the company’s stock worth $21,164,000 after buying an additional 360,233 shares during the period.

The Timken Company (Timken) engineers, manufactures and markets bearings, transmissions, gearboxes, chain and related products and offers a spectrum of power system rebuild and repair services around the world. The Company operates through two segments: Mobile Industries, which offers bearings, seals, lubrication devices and systems, as well as power transmission components, engineered chain, augers and related products and maintenance services, and Process Industries, which provides industrial bearings and assemblies, power transmission components such as gears and gearboxes, couplings, seals, lubricants, chains and related products and services.

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