StockNews.com Initiates Coverage on Timken (NYSE:TKR)

StockNews.com initiated coverage on shares of Timken (NYSE:TKR – Get Rating) in a research note issued to investors on Thursday. The firm issued a strong-buy rating on the industrial products company’s stock.

Several other analysts have also recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Timken from $81.00 to $85.00 and gave the stock a buy rating in a research note on Monday, December 19th. Citigroup lifted their price objective on shares of Timken from $78.00 to $98.00 and gave the stock a buy rating in a research note on Wednesday, February 8th. Oppenheimer lifted their price objective on shares of Timken from $88.00 to $90.00 and gave the stock an outperform rating in a research note on Tuesday, February 7th. Morgan Stanley boosted their target price on shares of Timken from $83.00 to $88.00 and gave the company an equal weight rating in a research report on Tuesday, February 7th. Finally, Jefferies Financial Group boosted their target price on shares of Timken from $95.00 to $105.00 and gave the company a buy rating in a research report on Monday, March 6th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Timken presently has an average rating of Moderate Buy and an average target price of $91.75.

Timken Stock Performance

NYSE TKR opened at $73.99 on Thursday. The firm has a 50-day moving average of $82.26 and a 200-day moving average of $73.13. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.30 and a current ratio of 2.47. The stock has a market cap of $5.36 billion, a PE ratio of 13.50, a P/E/G ratio of 0.95 and a beta of 1.54. Timken has a 52-week low of $50.85 and a 52-week high of $89.40.

Timken (NYSE:TKR – Get Rating) last posted its earnings results on Monday, February 6th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. Timken had a net margin of 9.06% and a return on equity of 19.52%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the company posted $0.78 EPS. Timken’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Timken will post 6.86 EPS for the current year.

Timken Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 6th. Investors of record on Tuesday, February 21st were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Friday, February 17th. Timken’s dividend payout ratio (DPR) is presently 22.63%.

Insider Activity at Timken

In related news, CEO Richard G. Kyle sold 24,841 shares of Timken stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $85.97, for a total transaction of $2,135,580.77. Following the sale, the chief executive officer now directly owns 383,082 shares of the company’s stock, valued at approximately $32,933,559.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Timken

Institutional investors have recently added to or reduced their stakes in the business. CoreCap Advisors LLC bought a new stake in Timken during the 4th quarter worth approximately $31,000. Denali Advisors LLC grew its holdings in Timken by 769.2% during the 4th quarter. Denali Advisors LLC now owns 452 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 400 shares during the last quarter. CWM LLC grew its holdings in Timken by 39.8% during the 4th quarter. CWM LLC now owns 481 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 137 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Timken during the 4th quarter worth approximately $34,000. Finally, Private Trust Co. NA bought a new stake in Timken during the 2nd quarter worth approximately $35,000. 82.00% of the stock is owned by institutional investors.

Timken Company Profile

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The Timken Co engages in the engineering, manufacturing, and marketing of bearings and industrial motion products. In addition to bearings, it offers drives, belts, chains, lubrication systems, couplings, industrial clutches, and brakes. It operates through the Mobile and Process Industries segments.