Timken (NYSE:TKR) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Timken (NYSE:TKR) from a hold rating to a buy rating in a research report released on Friday, Marketbeat Ratings reports. They currently have $95.00 target price on the industrial products company’s stock, up from their prior target price of $80.00.

Several other research firms have also recently issued reports on TKR. Citigroup began coverage on shares of Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective for the company. KeyCorp reissued a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. DA Davidson dropped their price objective on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Evercore ISI raised Timken from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $87.00 to $91.00 in a report on Wednesday, November 13th. Finally, Oppenheimer dropped their price target on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $91.00.

Timken Stock Performance

Shares of TKR stock opened at $76.38 on Friday. Timken has a 52 week low of $72.35 and a 52 week high of $94.71. The firm has a 50 day moving average of $80.28 and a two-hundred day moving average of $81.91. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $5.36 billion, a PE ratio of 15.88, a P/E/G ratio of 1.15 and a beta of 1.38.

Timken (NYSE:TKR) last released its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.15). The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.55 earnings per share. On average, research analysts predict that Timken will post 5.61 EPS for the current fiscal year.

Timken Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.78%. The ex-dividend date was Tuesday, November 19th. Timken’s payout ratio is 28.27%.

Insider Activity

In other news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the transaction, the director now owns 194,485 shares in the company, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Coastline Trust Co acquired a new position in Timken during the third quarter worth $29,000. Livelsberger Financial Advisory purchased a new stake in shares of Timken in the third quarter valued at about $32,000. UMB Bank n.a. raised its position in shares of Timken by 64.1% during the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 168 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Timken during the second quarter worth $44,000. Finally, Brooklyn Investment Group acquired a new position in shares of Timken in the third quarter worth $74,000. 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.