Timken (NYSE:TKR) Upgraded to “Outperform” at Evercore ISI

Evercore ISI upgraded shares of Timken (NYSE:TKR) from an in-line rating to an outperform rating in a report issued on Wednesday morning, Marketbeat Ratings reports. The firm currently has $91.00 target price on the industrial products company’s stock, up from their prior target price of $87.00.

Several other equities research analysts have also commented on the stock. KeyCorp reduced their price target on shares of Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Oppenheimer cut their price target on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. DA Davidson cut their target price on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Citigroup initiated coverage on shares of Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 price target for the company. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $90.00.

Timken Stock Performance

Shares of Timken stock opened at $74.50 on Wednesday. Timken has a 52 week low of $71.57 and a 52 week high of $94.71. The company has a market capitalization of $5.22 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The stock’s fifty day moving average is $82.03 and its two-hundred day moving average is $83.53. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71.

Timken (NYSE:TKR) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the firm posted $1.55 EPS. The business’s revenue was down 1.4% on a year-over-year basis. As a group, analysts expect that Timken will post 5.62 earnings per share for the current year.

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.36 annualized dividend and a dividend yield of 1.83%. Timken’s payout ratio is currently 28.27%.

Insider Activity at Timken

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the sale, the director now owns 194,485 shares in the company, valued at approximately $14,895,606.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.70% of the stock is owned by insiders.

Institutional Trading of Timken

Hedge funds and other institutional investors have recently made changes to their positions in the business. Coastline Trust Co acquired a new stake in Timken during the 3rd quarter worth about $29,000. EverSource Wealth Advisors LLC lifted its holdings in Timken by 1,905.6% in the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 343 shares during the period. Versant Capital Management Inc acquired a new position in shares of Timken in the 2nd quarter valued at $30,000. Livelsberger Financial Advisory purchased a new stake in Timken during the third quarter worth $32,000. Finally, UMB Bank n.a. grew its position in Timken by 64.1% during the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Company Profile

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.