Goldman Sachs Group, Inc. (The) lowered shares of Timken Company (The) (NYSE:TKR) from a conviction-buy rating to a buy rating in a research report report published on Monday, The Fly reports.

TKR has been the topic of several other reports. BidaskClub lowered shares of Timken Company (The) from a hold rating to a sell rating in a report on Wednesday, June 28th. Stifel Nicolaus upped their price objective on shares of Timken Company (The) from $46.00 to $53.00 and gave the stock a buy rating in a research report on Friday, April 28th. Jefferies Group LLC reiterated a hold rating and issued a $45.00 price objective on shares of Timken Company (The) in a research report on Friday, July 14th. Zacks Investment Research downgraded shares of Timken Company (The) from a buy rating to a hold rating in a research report on Wednesday, April 26th. Finally, ValuEngine upgraded shares of Timken Company (The) from a hold rating to a buy rating in a research report on Tuesday, August 1st. One 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. The company has a consensus rating of Hold and an average target price of $47.50.

Shares of Timken Company (NYSE TKR) traded up 1.398% during trading on Monday, reaching $45.325. The company had a trading volume of 217,447 shares. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 22.494 and a beta of 1.38. The company’s 50 day moving average is $46.62 and its 200-day moving average is $45.57. Timken Company has a 1-year low of $31.60 and a 1-year high of $51.75.

Timken Company (The) (NYSE:TKR) last posted its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. Timken Company (The) had a net margin of 5.98% and a return on equity of 12.73%. The company had revenue of $750.60 million for the quarter, compared to analyst estimates of $716.50 million. During the same period in the prior year, the company earned $0.55 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. On average, equities research analysts anticipate that Timken Company will post $2.56 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 22nd will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.42%. Timken Company (The)’s dividend payout ratio (DPR) is presently 51.67%.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TKR. BlackRock Inc. increased its position in 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 valued at $256,485,000 after buying an additional 5,578,018 shares during the period. Wellington Management Group LLP increased its position in 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 valued at $99,939,000 after buying an additional 613,258 shares during the period. Victory Capital Management Inc. increased its position in 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 valued at $28,927,000 after buying an additional 518,933 shares during the period. Canada Pension Plan Investment Board increased its position in 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 valued at $24,582,000 after buying an additional 443,900 shares during the period. Finally, Prudential Financial Inc. increased its position in Timken Company (The) by 144.9% in the second quarter. Prudential Financial Inc. now owns 566,928 shares of the industrial products company’s stock valued at $26,220,000 after buying an additional 335,460 shares during the period. Hedge funds and other institutional investors own 76.94% of the company’s stock.

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.

The Fly

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

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