Timken (NYSE:TKR) Price Target Lowered to $75.00 at The Goldman Sachs Group

Timken (NYSE:TKR) had its price target cut by The Goldman Sachs Group from $85.00 to $75.00 in a report released on Wednesday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

A number of other equities analysts have also recently commented on the stock. Citigroup cut their price target on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Morgan Stanley increased their target price on Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $73.00 to $78.00 in a research note on Tuesday, February 4th. Jefferies Financial Group reiterated a “hold” rating and set a $70.00 price objective (down from $90.00) on shares of Timken in a research report on Wednesday. Finally, Evercore ISI boosted their target price on Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.82.

Timken Stock Up 2.6 %

Shares of NYSE:TKR opened at $70.52 on Wednesday. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.51 and a beta of 1.37. Timken has a one year low of $66.76 and a one year high of $94.71. The firm has a fifty day moving average price of $77.68 and a two-hundred day moving average price of $78.11. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61.

Timken (NYSE:TKR) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 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 anticipate that Timken will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken’s payout ratio is 27.25%.

Insider Transactions at Timken

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the stock in a transaction that occurred on 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 owns 90,541 shares in the company, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Timken

A number of hedge funds and other institutional investors have recently made changes to their positions in TKR. Fairway Wealth LLC bought a new position in Timken in the 4th quarter worth $29,000. Amundi raised its stake in Timken by 25.8% in the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after buying an additional 174 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in Timken in the fourth quarter worth about $66,000. Kohmann Bosshard Financial Services LLC bought a new stake in Timken during the 4th quarter valued at approximately $109,000. Finally, AlphaQuest LLC grew its holdings in shares of Timken by 25,983.3% during the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 1,559 shares during the period. Institutional investors own 89.08% of the company’s stock.

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.