BidaskClub downgraded shares of Timken Company (The) (NYSE:TKR) from a hold rating to a sell rating in a research note published on Tuesday morning.

A number of other research analysts have also issued reports on the company. Stifel Nicolaus boosted their target price on Timken Company (The) from $46.00 to $53.00 and gave the company a buy rating in a report on Friday, April 28th. Jefferies Group LLC reissued a hold rating and issued a $45.00 target price on shares of Timken Company (The) in a report on Tuesday, April 18th. Finally, Zacks Investment Research raised Timken Company (The) from a hold rating to a buy rating and set a $55.00 target price on the stock in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Timken Company (The) presently has a consensus rating of Hold and a consensus price target of $47.50.

Shares of Timken Company (TKR) traded up 0.90% during midday trading on Tuesday, hitting $44.70. 504,141 shares of the stock were exchanged. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 22.18 and a beta of 1.38. The firm has a 50 day moving average of $46.62 and a 200-day moving average of $45.57. Timken Company has a one year low of $31.60 and a one year high of $51.75.

Timken Company (The) (NYSE:TKR) last issued its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.01. Timken Company (The) had a return on equity of 12.73% and a net margin of 5.98%. The company had revenue of $750.60 million during the quarter, compared to analysts’ expectations of $716.50 million. During the same quarter in the previous year, the business earned $0.55 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. Equities analysts expect that Timken Company will post $2.56 EPS for the current year.

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In other news, EVP William R. Burkhart sold 32,580 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $47.94, for a total value of $1,561,885.20. Following the transaction, the executive vice president now owns 55,640 shares of the company’s stock, valued at $2,667,381.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jacqueline F. Woods sold 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $46.02, for a total value of $59,826.00. Following the completion of the transaction, the director now directly owns 19,249 shares in the company, valued at approximately $885,838.98. The disclosure for this sale can be found here. Insiders own 11.08% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Timken Company (The) by 5,786.0% in the first quarter. BlackRock Inc. now owns 5,674,424 shares of the industrial products company’s stock worth $256,485,000 after buying an additional 5,578,018 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Timken Company (The) by 38.4% in the first quarter. Wellington Management Group LLP now owns 2,211,031 shares of the industrial products company’s stock worth $99,939,000 after buying an additional 613,258 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Timken Company (The) by 428.7% in the first quarter. Victory Capital Management Inc. now owns 639,973 shares of the industrial products company’s stock worth $28,927,000 after buying an additional 518,933 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Timken Company (The) by 506.7% in the second quarter. Canada Pension Plan Investment Board now owns 531,500 shares of the industrial products company’s stock worth $24,582,000 after buying an additional 443,900 shares in the last quarter. Finally, Boston Partners raised its position in shares of Timken Company (The) by 12.8% in the first quarter. Boston Partners now owns 2,901,889 shares of the industrial products company’s stock worth $131,165,000 after buying an additional 330,391 shares in the last quarter. 76.38% of the stock is currently owned by hedge funds and other institutional investors.

About Timken Company (The)

The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.

Analyst Recommendations for Timken Company (The) (NYSE:TKR)

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