Timken (NYSE:TKR) Upgraded at Evercore ISI

Evercore ISI upgraded shares of Timken (NYSE:TKR) from an in-line rating to an outperform rating in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. Evercore ISI currently has $91.00 price objective on the industrial products company’s stock, up from their prior price objective of $87.00.

Several other brokerages also recently issued reports on TKR. KeyCorp lowered their price target on Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Citigroup started coverage on Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price for the company. Oppenheimer reduced their price target on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, DA Davidson lowered their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $90.00.

Timken Stock Up 0.8 %

Shares of TKR opened at $75.59 on Wednesday. Timken has a fifty-two week low of $71.57 and a fifty-two week high of $94.71. The company’s fifty day moving average is $81.89 and its two-hundred day moving average is $83.40. The firm has a market cap of $5.30 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71.

Timken (NYSE:TKR) last announced its quarterly 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 firm 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 business’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.55 earnings per share. Analysts forecast that Timken will post 5.61 earnings per share for the current year.

Timken Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be given a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.80%. Timken’s payout ratio is currently 28.27%.

Insiders Place Their Bets

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the sale, the director now directly owns 194,485 shares of the company’s stock, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Timken

Several hedge funds have recently bought and sold shares of the company. Coastline Trust Co acquired a new stake in shares of Timken in the third quarter valued at approximately $29,000. Versant Capital Management Inc acquired a new stake in Timken in the 2nd quarter valued at approximately $30,000. EverSource Wealth Advisors LLC raised its stake in shares of Timken by 1,905.6% during the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 343 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Timken in the 3rd quarter worth approximately $32,000. Finally, UMB Bank n.a. boosted its holdings in shares of Timken by 64.1% in the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 168 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

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.