Morgan Stanley Issues Positive Forecast for Timken (NYSE:TKR) Stock Price

Timken (NYSE:TKR) had its price objective hoisted by Morgan Stanley from $93.00 to $94.00 in a research note released on Tuesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the industrial products company’s stock.

A number of other research analysts also recently commented on the company. Citigroup lowered their price objective on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and raised their price target for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. KeyCorp reissued a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Jefferies Financial Group upgraded Timken from a “hold” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $95.00 in a research report on Friday, December 6th. Finally, Oppenheimer cut their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $91.60.

Timken Stock Performance

Shares of TKR opened at $82.19 on Tuesday. Timken has a 52-week low of $69.35 and a 52-week high of $94.71. The company has a quick ratio of 1.62, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.21 and a beta of 1.39. The business’s 50 day moving average is $75.64 and its two-hundred day moving average is $79.33.

Timken (NYSE:TKR) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. Analysts forecast that Timken will post 5.6 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Philip D. Fracassa sold 5,000 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the sale, the chief financial officer now directly owns 90,541 shares in the company, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Timken

Several institutional investors have recently made changes to their positions in the company. M&T Bank Corp grew its position in Timken by 0.6% in the third quarter. M&T Bank Corp now owns 24,482 shares of the industrial products company’s stock worth $2,064,000 after acquiring an additional 144 shares in the last quarter. Beese Fulmer Investment Management Inc. raised its holdings in Timken by 1.0% during the third quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company’s stock valued at $1,282,000 after buying an additional 155 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in Timken by 8.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 158 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Timken by 20.0% during the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock worth $80,000 after buying an additional 166 shares during the period. Finally, UMB Bank n.a. lifted its position in 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 acquiring an additional 168 shares during the last quarter. 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.