Brokerages Set The Timken Company (NYSE:TKR) Target Price at $91.75

Posted by Defense World Staff on Mar 19th, 2023

Shares of The Timken Company (NYSE:TKR – Get Rating) have received an average rating of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $91.75.

A number of brokerages have recently weighed in on TKR. Stifel Nicolaus increased their target price on Timken from $81.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 19th. Bank of America raised shares of Timken from a “neutral” rating to a “buy” rating and boosted their target price for the company from $71.00 to $87.00 in a research report on Friday, January 13th. Morgan Stanley raised their price target on shares of Timken from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 7th. Citigroup boosted their price objective on shares of Timken from $78.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Finally, Oppenheimer increased their target price on shares of Timken from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 7th.

Timken Stock Down 6.2 %

TKR opened at $73.99 on Thursday. The stock’s fifty day simple moving average is $82.26 and its 200 day simple moving average is $73.13. Timken has a 1-year low of $50.85 and a 1-year high of $89.40. The stock has a market cap of $5.36 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 0.95 and a beta of 1.54. The company has a current ratio of 2.47, a quick ratio of 1.30 and a debt-to-equity ratio of 0.81.

Timken (NYSE:TKR – Get Rating) last issued its quarterly earnings data on Monday, February 6th. The industrial products company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.13. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. Timken had a net margin of 9.06% and a return on equity of 19.52%. The company’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 earnings per share. As a group, research analysts expect that Timken will post 6.86 earnings per share for the current year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 6th. Shareholders of record on Tuesday, February 21st were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.68%. The ex-dividend date was Friday, February 17th. Timken’s dividend payout ratio is currently 22.63%.

Insider Activity

In related news, CEO Richard G. Kyle sold 24,841 shares of Timken stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $85.97, for a total value of $2,135,580.77. Following the transaction, the chief executive officer now directly owns 383,082 shares of the company’s stock, valued at $32,933,559.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 10.79% of the company’s stock.

Institutional Trading of Timken

Several institutional investors and hedge funds have recently modified their holdings of the business. CoreCap Advisors LLC acquired a new stake in Timken in the fourth quarter valued at approximately $31,000. Denali Advisors LLC boosted its holdings in shares of Timken by 769.2% during the 4th quarter. Denali Advisors LLC now owns 452 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 400 shares in the last quarter. CWM LLC boosted its holdings in shares of Timken by 39.8% during the 4th quarter. CWM LLC now owns 481 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 137 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Timken during the 4th quarter worth $34,000. Finally, Money Concepts Capital Corp acquired a new position in Timken in the 4th quarter worth about $35,000. 82.00% of the stock is currently owned by institutional investors.

About Timken

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The Timken Co engages in the engineering, manufacturing, and marketing of bearings and industrial motion products. In addition to bearings, it offers drives, belts, chains, lubrication systems, couplings, industrial clutches, and brakes. It operates through the Mobile and Process Industries segments.