Timken (NYSE:TKR) Price Target Raised to $94.00

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

Other research analysts have also recently issued reports about the company. Jefferies Financial Group raised 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 report on Friday, December 6th. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $87.00 to $91.00 in a research report on Wednesday, November 13th. DA Davidson cut their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. KeyCorp reiterated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Finally, Citigroup cut their price objective on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Timken presently has a consensus rating of “Moderate Buy” and an average target price of $91.60.

Timken Price Performance

NYSE TKR opened at $83.21 on Tuesday. The company has a current ratio of 3.07, a quick ratio of 1.62 and a debt-to-equity ratio of 0.69. Timken has a 12 month low of $69.35 and a 12 month high of $94.71. The stock has a market cap of $5.83 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.21 and a beta of 1.39. The company’s 50 day moving average is $75.88 and its two-hundred day moving average is $79.38.

Timken (NYSE:TKR) last released its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. As a group, research analysts anticipate that Timken will post 5.6 earnings per share for the current year.

Insider Activity at Timken

In related news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $81.50, for a total value 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 $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Timken

Hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. raised its stake 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 worth $36,000 after purchasing an additional 168 shares during the last quarter. Inspire Investing LLC boosted its holdings in Timken by 12.2% in the third quarter. Inspire Investing LLC now owns 4,901 shares of the industrial products company’s stock valued at $413,000 after purchasing an additional 534 shares during the last quarter. Creative Planning raised its position in Timken by 11.1% during the third quarter. Creative Planning now owns 10,138 shares of the industrial products company’s stock valued at $855,000 after acquiring an additional 1,015 shares in the last quarter. NBC Securities Inc. increased its holdings in shares of Timken by 1.6% during the 3rd quarter. NBC Securities Inc. now owns 11,531 shares of the industrial products company’s stock valued at $971,000 after purchasing an additional 177 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in Timken in the third quarter valued at $421,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Timken Company Profile

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.