Timken (NYSE:TKR) Price Target Raised to $80.00

Timken (NYSE:TKR - Free Report) had its price target increased by Citigroup from $75.00 to $80.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a buy rating on the industrial products company's stock.

TKR has been the topic of a number of other reports. Morgan Stanley lowered their price target on shares of Timken from $94.00 to $88.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Jefferies Financial Group reaffirmed a "hold" rating and set a $70.00 target price (down from $90.00) on shares of Timken in a report on Wednesday, April 2nd. The Goldman Sachs Group cut their price target on Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. DA Davidson increased their price target on Timken from $66.00 to $71.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Finally, Loop Capital dropped their price objective on Timken from $85.00 to $65.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $79.00.

Timken Stock Performance

Shares of NYSE:TKR traded down $0.73 on Tuesday, hitting $73.30. The company had a trading volume of 866,264 shares, compared to its average volume of 670,969. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 1.74 and a beta of 1.28. The company has a current ratio of 3.15, a quick ratio of 1.71 and a debt-to-equity ratio of 0.68. Timken has a 1-year low of $56.20 and a 1-year high of $90.49. The stock has a 50 day moving average price of $69.24 and a 200 day moving average price of $72.43.

Timken (NYSE:TKR - Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share for the quarter, missing analysts' consensus estimates of $1.43 by ($0.03). The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Timken had a return on equity of 12.62% and a net margin of 7.24%. Timken's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the business posted $1.77 EPS. Analysts expect that Timken will post 5.62 EPS for the current year.

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.91%. This is a boost from Timken's previous quarterly dividend of $0.34. Timken's payout ratio is 30.17%.

Institutional Trading of Timken

Several large investors have recently bought and sold shares of TKR. Fairway Wealth LLC bought a new position in shares of Timken in the fourth quarter worth about $29,000. Amundi boosted its position in Timken by 25.8% in the fourth quarter. Amundi now owns 848 shares of the industrial products company's stock valued at $61,000 after buying an additional 174 shares in the last quarter. Parvin Asset Management LLC acquired a new position in Timken in the 4th quarter valued at approximately $66,000. UMB Bank n.a. raised its stake in shares of Timken by 400.0% during the first quarter. UMB Bank n.a. now owns 1,000 shares of the industrial products company's stock valued at $72,000 after acquiring an additional 800 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Timken by 282.3% during the first quarter. GAMMA Investing LLC now owns 1,147 shares of the industrial products company's stock worth $82,000 after purchasing an additional 847 shares during the period. 89.08% of the stock is owned by institutional investors and hedge funds.

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.