Timken (NYSE:TKR) Price Target Raised to $88.00 at KeyCorp

Timken (NYSE:TKRGet Rating) had its price objective raised by KeyCorp from $75.00 to $88.00 in a report released on Monday, The Fly reports. KeyCorp currently has an overweight rating on the industrial products company’s stock.

A number of other research analysts also recently weighed in on the stock. Oppenheimer raised their target price on shares of Timken from $77.00 to $80.00 and gave the company an outperform rating in a research report on Friday, September 30th. StockNews.com raised shares of Timken from a buy rating to a strong-buy rating in a research report on Friday, October 28th. Citigroup raised their target price on shares of Timken to $78.00 in a research report on Tuesday, November 1st. Finally, Morgan Stanley lifted their price objective on shares of Timken from $69.00 to $70.00 and gave the company an equal weight rating in a research report on Thursday, October 27th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Timken currently has an average rating of Moderate Buy and a consensus price target of $76.63.

Timken Stock Down 0.8 %

Timken stock opened at $74.57 on Monday. The company has a market cap of $5.42 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 1.05 and a beta of 1.58. Timken has a 1-year low of $50.85 and a 1-year high of $75.80. The company has a fifty day simple moving average of $67.22 and a 200 day simple moving average of $62.80. The company has a current ratio of 2.03, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65.

Timken Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Monday, November 21st will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Friday, November 18th. Timken’s dividend payout ratio is presently 24.90%.

Insider Transactions at Timken

In other news, CEO Richard G. Kyle sold 16,650 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $74.43, for a total transaction of $1,239,259.50. Following the completion of the sale, the chief executive officer now owns 339,843 shares in the company, valued at approximately $25,294,514.49. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Richard G. Kyle sold 15,873 shares of the firm’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $70.29, for a total transaction of $1,115,713.17. Following the completion of the sale, the chief executive officer now owns 339,843 shares in the company, valued at approximately $23,887,564.47. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Richard G. Kyle sold 16,650 shares of Timken stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $74.43, for a total transaction of $1,239,259.50. Following the completion of the sale, the chief executive officer now owns 339,843 shares of the company’s stock, valued at approximately $25,294,514.49. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,244 shares of company stock worth $4,853,869. 10.79% of the stock is owned by insiders.

Institutional Trading of Timken

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ronald Blue Trust Inc. acquired a new stake in Timken in the 2nd quarter worth about $39,000. Venture Visionary Partners LLC acquired a new stake in Timken in the 2nd quarter worth about $35,000. Private Trust Co. NA acquired a new stake in Timken in the 2nd quarter worth about $35,000. Janiczek Wealth Management LLC raised its stake in Timken by 222.9% in the 2nd quarter. Janiczek Wealth Management LLC now owns 678 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 468 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Timken by 40.2% in the 2nd quarter. Quadrant Capital Group LLC now owns 854 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 245 shares in the last quarter. Institutional investors and hedge funds own 81.39% of the company’s stock.

Timken Company Profile

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The Timken Company designs, manufactures, and manages engineered bearings and power transmission products 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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