Timken (NYSE:TKR) Price Target Raised to $100.00 at Stifel Nicolaus

Timken (NYSE:TKR) had its price target increased by Stifel Nicolaus from $92.00 to $100.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

A number of other equities analysts also recently commented on the stock. DA Davidson started coverage on shares of Timken in a research note on Tuesday, January 23rd. They issued a buy rating and a $92.00 price objective for the company. StockNews.com cut Timken from a buy rating to a hold rating in a research note on Wednesday, February 21st. The Goldman Sachs Group lifted their target price on Timken from $78.00 to $87.00 and gave the company a neutral rating in a research note on Tuesday, February 6th. Evercore ISI lowered shares of Timken from an outperform rating to an in-line rating and set a $84.00 price target for the company. in a research report on Tuesday, February 20th. Finally, Morgan Stanley initiated coverage on shares of Timken in a research report on Monday, January 8th. They issued an equal weight rating and a $74.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Timken currently has a consensus rating of Hold and an average target price of $87.09.

Timken Price Performance

Shares of TKR stock opened at $89.49 on Wednesday. Timken has a twelve month low of $65.71 and a twelve month high of $95.08. The company has a current ratio of 1.87, a quick ratio of 0.96 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $86.12 and a two-hundred day simple moving average of $79.96. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 17.05, a P/E/G ratio of 1.20 and a beta of 1.51.

Timken (NYSE:TKR) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.27. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.15 billion. Timken had a net margin of 7.99% and a return on equity of 17.98%. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.09 earnings per share. On average, analysts predict that Timken will post 6.18 EPS for the current fiscal year.

Timken Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be issued a $0.34 dividend. The ex-dividend date is Monday, May 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.52%. This is a boost from Timken’s previous quarterly dividend of $0.33. Timken’s dividend payout ratio (DPR) is currently 25.14%.

Institutional Investors Weigh In On Timken

A number of large investors have recently made changes to their positions in the stock. Fidelis Capital Partners LLC purchased a new position in Timken in the 1st quarter worth $26,000. Livelsberger Financial Advisory acquired a new stake in shares of Timken during the fourth quarter worth about $30,000. GAMMA Investing LLC purchased a new stake in Timken in the fourth quarter valued at approximately $35,000. Anchor Investment Management LLC acquired a new position in Timken in the 4th quarter worth approximately $58,000. Finally, CWM LLC raised its position in Timken by 50.0% during the 3rd quarter. CWM LLC now owns 906 shares of the industrial products company’s stock worth $67,000 after buying an additional 302 shares during the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

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.