Timken (NYSE:TKR) Given New $65.00 Price Target at Loop Capital

Timken (NYSE:TKR) had its target price cut by Loop Capital from $85.00 to $65.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

TKR has been the topic of several other reports. Citigroup cut their target price on Timken from $95.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group reduced their target price on Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Morgan Stanley decreased their target price on Timken from $94.00 to $88.00 and set an “overweight” rating for the company in a research report on Wednesday. Jefferies Financial Group reissued a “hold” rating and issued a $70.00 price target (down previously from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Finally, Evercore ISI upped their price objective on shares of Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Timken presently has an average rating of “Moderate Buy” and an average target price of $84.91.

Timken Stock Up 0.7 %

Shares of Timken stock opened at $61.39 on Thursday. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 1.51 and a beta of 1.28. The stock has a 50-day simple moving average of $72.97 and a 200-day simple moving average of $76.19. Timken has a 52-week low of $56.20 and a 52-week high of $94.71. 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 earnings per share (EPS) 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%. On average, equities research analysts expect that Timken will post 5.62 earnings per share for the current fiscal year.

Timken Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Tuesday, February 25th. Timken’s payout ratio is presently 27.25%.

Insider Buying and Selling at Timken

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the sale, the chief financial officer now owns 90,541 shares of the company’s stock, valued at $7,379,091.50. The trade was a 5.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 8.70% of the company’s stock.

Institutional Trading of Timken

Institutional investors have recently made changes to their positions in the business. Barclays PLC lifted its stake in Timken by 221.6% during the third quarter. Barclays PLC now owns 86,667 shares of the industrial products company’s stock worth $7,307,000 after purchasing an additional 59,716 shares during the period. Harbor Capital Advisors Inc. raised its holdings in shares of Timken by 29.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company’s stock worth $4,327,000 after buying an additional 13,697 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Timken in the 4th quarter valued at $14,460,000. Janney Montgomery Scott LLC grew its position in Timken by 25.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 107,102 shares of the industrial products company’s stock valued at $7,644,000 after acquiring an additional 22,003 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Timken during the fourth quarter worth $574,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

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.