The Timken (NYSE:TKR) had its price objective reduced by equities research analysts at Morgan Stanley from $90.00 to $87.00 in a research note issued to investors on Monday, Stock Target Advisor reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s price objective points to a potential upside of 7.69% from the stock’s previous close.
A number of other research firms have also recently commented on TKR. Evercore ISI cut The Timken to an “outperform” rating in a report on Tuesday, February 16th. Smith Barney Citigroup upped their price objective on The Timken from $75.00 to $95.00 in a report on Thursday, January 7th. Vertical Research began coverage on The Timken in a research note on Wednesday, January 20th. They set a “hold” rating on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on The Timken from $75.00 to $95.00 in a research note on Thursday, January 7th. Finally, KeyCorp upped their price target on The Timken from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, January 14th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $91.71.
Shares of The Timken stock traded down $0.72 on Monday, hitting $80.79. 3,322 shares of the company were exchanged, compared to its average volume of 648,448. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 4.03 and a beta of 1.77. The company has a 50-day moving average price of $80.62 and a 200 day moving average price of $73.37. The Timken has a 1-year low of $32.10 and a 1-year high of $87.92. The company has a quick ratio of 1.59, a current ratio of 2.65 and a debt-to-equity ratio of 0.73.
The Timken (NYSE:TKR) last issued its earnings results on Thursday, February 4th. The industrial products company reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.09). The Timken had a return on equity of 15.77% and a net margin of 9.80%. The company had revenue of $891.70 million for the quarter, compared to analyst estimates of $874.21 million. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts forecast that The Timken will post 4.16 EPS for the current year.
In other The Timken news, CEO Richard G. Kyle sold 57,221 shares of the firm’s stock in a transaction dated Tuesday, February 9th. The stock was sold at an average price of $73.84, for a total transaction of $4,225,198.64. Following the transaction, the chief executive officer now owns 244,080 shares of the company’s stock, valued at $18,022,867.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Philip D. Fracassa sold 3,608 shares of the firm’s stock in a transaction dated Wednesday, February 24th. The stock was sold at an average price of $79.40, for a total value of $286,475.20. Following the transaction, the chief financial officer now directly owns 92,438 shares in the company, valued at approximately $7,339,577.20. The disclosure for this sale can be found here. Insiders sold 87,987 shares of company stock worth $6,549,199 in the last three months. 11.62% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the business. Morgan Stanley boosted its stake in shares of The Timken by 25.1% during the third quarter. Morgan Stanley now owns 48,454 shares of the industrial products company’s stock worth $2,627,000 after buying an additional 9,725 shares during the period. Cubist Systematic Strategies LLC boosted its stake in shares of The Timken by 247.6% during the third quarter. Cubist Systematic Strategies LLC now owns 39,189 shares of the industrial products company’s stock worth $2,125,000 after buying an additional 27,914 shares during the period. Captrust Financial Advisors boosted its stake in shares of The Timken by 506.2% during the third quarter. Captrust Financial Advisors now owns 4,662 shares of the industrial products company’s stock worth $251,000 after buying an additional 3,893 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in shares of The Timken during the third quarter worth about $407,000. Finally, California State Teachers Retirement System boosted its stake in shares of The Timken by 1.6% during the third quarter. California State Teachers Retirement System now owns 111,396 shares of the industrial products company’s stock worth $6,040,000 after buying an additional 1,780 shares during the period. 80.41% of the stock is currently owned by institutional investors.
About The Timken
The Timken Company designs, manufactures, and manages engineered bearings and power transmission products and services worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.
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