Timken (NYSE:TKR – Get Free Report) had its price objective raised by equities research analysts at The Goldman Sachs Group from $78.00 to $87.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 6.66% from the company’s current price.
TKR has been the subject of several other reports. Bank of America cut shares of Timken from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $100.00 to $74.00 in a research note on Wednesday, October 11th. StockNews.com raised shares of Timken from a “hold” rating to a “buy” rating in a research note on Thursday, February 1st. Morgan Stanley assumed coverage on shares of Timken in a research note on Monday, January 8th. They issued an “equal weight” rating and a $74.00 target price for the company. Jefferies Financial Group cut shares of Timken from a “buy” rating to a “hold” rating and decreased their target price for the company from $105.00 to $85.00 in a research note on Wednesday, December 20th. Finally, KeyCorp decreased their target price on shares of Timken from $102.00 to $91.00 and set an “overweight” rating for the company in a research note on Monday, November 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Timken has an average rating of “Hold” and an average price target of $85.50.
Timken Price Performance
Timken (NYSE:TKR – Get Free Report) last issued its quarterly earnings results on Monday, February 5th. The industrial products company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.15. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Timken had a net margin of 8.26% and a return on equity of 19.57%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the business earned $1.22 EPS. As a group, equities research analysts forecast that Timken will post 6 EPS for the current fiscal year.
Insiders Place Their Bets
In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $74.03, for a total transaction of $370,150.00. Following the completion of the transaction, the chief financial officer now directly owns 88,868 shares of the company’s stock, valued at $6,578,898.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 9.89% of the company’s stock.
Institutional Investors Weigh In On Timken
Hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC acquired a new stake in shares of Timken during the fourth quarter worth $34,000. Money Concepts Capital Corp acquired a new stake in shares of Timken during the fourth quarter worth $35,000. GAMMA Investing LLC acquired a new stake in shares of Timken during the fourth quarter worth $35,000. Acadian Asset Management LLC acquired a new stake in shares of Timken during the first quarter worth $36,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Timken during the second quarter worth $36,000. Institutional investors and hedge funds own 84.56% 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; thrust and specialty ball bearings; and housed or mounted bearings.
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