Timken (NYSE:TKR) Price Target Increased to $95.00 by Analysts at KeyCorp

Timken (NYSE:TKR) had its price target hoisted by KeyCorp from $91.00 to $95.00 in a report released on Thursday morning, Benzinga reports. KeyCorp currently has an overweight rating on the industrial products company’s stock.

Several other equities research analysts also recently weighed in on the company. Stifel Nicolaus upped their target price on Timken from $92.00 to $100.00 and gave the stock a buy rating in a research report on Wednesday. The Goldman Sachs Group raised their price objective on shares of Timken from $78.00 to $87.00 and gave the company a neutral rating in a research note on Tuesday, February 6th. Evercore ISI downgraded Timken from an outperform rating to an in-line rating and set a $84.00 target price for the company. in a research report on Tuesday, February 20th. StockNews.com lowered Timken from a buy rating to a hold rating in a research note on Wednesday, February 21st. Finally, Loop Capital upped their price objective on Timken from $78.00 to $87.00 and gave the company a hold rating in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Timken currently has an average rating of Hold and an average price target of $87.09.

Timken Trading Up 0.4 %

TKR traded up $0.32 on Thursday, reaching $89.49. 408,980 shares of the company’s stock were exchanged, compared to its average volume of 516,739. Timken has a twelve month low of $65.71 and a twelve month high of $95.08. The company’s 50 day moving average is $86.12 and its 200-day moving average is $79.96. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.96 and a current ratio of 1.87. The company has a market cap of $6.30 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 1.20 and a beta of 1.51.

Timken (NYSE:TKR) last issued its 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 the consensus estimate of $1.15 billion. During the same quarter last year, the firm posted $2.09 EPS. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. Equities analysts predict that Timken will post 6.18 earnings per share for the current year.

Timken Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Monday, May 13th. This is an increase from Timken’s previous quarterly dividend of $0.33. Timken’s payout ratio is presently 25.14%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Buck Wealth Strategies LLC purchased a new stake in shares of Timken in the 1st quarter valued at approximately $2,144,000. Avidian Wealth Solutions LLC acquired a new position in Timken during the first quarter valued at $235,000. Fidelis Capital Partners LLC purchased a new stake in Timken in the 1st quarter worth about $26,000. BNP Paribas acquired a new stake in Timken during the 1st quarter worth about $1,144,000. Finally, Janney Montgomery Scott LLC grew its stake in Timken by 6.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 106,932 shares of the industrial products company’s stock valued at $9,349,000 after acquiring an additional 6,398 shares in 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.