Timken (NYSE:TKR) Shares Gap Up to $86.70

The Timken Company (NYSE:TKR - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $86.70, but opened at $91.53. Timken shares last traded at $93.54, with a volume of 328,216 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Evercore ISI cut Timken from an "outperform" rating to an "in-line" rating and set a $84.00 target price on the stock. in a report on Tuesday, February 20th. DA Davidson started coverage on Timken in a report on Tuesday, January 23rd. They issued a "buy" rating and a $92.00 target price on the stock. Morgan Stanley started coverage on Timken in a report on Monday, January 8th. They set an "equal weight" rating and a $74.00 price target on the stock. The Goldman Sachs Group raised their price target on Timken from $78.00 to $87.00 and gave the company a "neutral" rating in a report on Tuesday, February 6th. Finally, StockNews.com cut Timken from a "buy" rating to a "hold" rating in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $85.90.

Timken Stock Up 2.9 %

The company has a quick ratio of 0.96, a current ratio of 1.79 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average price of $85.43 and a 200-day moving average price of $79.59. The stock has a market capitalization of $6.28 billion, a P/E ratio of 16.34, a PEG ratio of 1.18 and a beta of 1.54.

Timken (NYSE:TKR - Get Free Report) last released its quarterly earnings results on Monday, February 5th. The industrial products company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.22 by $0.15. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.06 billion. Timken had a return on equity of 19.57% and a net margin of 8.26%. The firm's revenue was up .9% on a year-over-year basis. During the same quarter last year, the business posted $1.22 earnings per share. As a group, research analysts forecast that The Timken Company will post 6.02 EPS for the current fiscal year.

Timken Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Tuesday, February 20th were given a $0.33 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.32 annualized dividend and a yield of 1.48%. Timken's dividend payout ratio is currently 24.18%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Livelsberger Financial Advisory purchased a new position in Timken in the fourth quarter worth about $30,000. GAMMA Investing LLC purchased a new position in shares of Timken during the fourth quarter valued at approximately $35,000. Anchor Investment Management LLC purchased a new position in shares of Timken during the fourth quarter valued at approximately $58,000. CWM LLC boosted its position in shares of Timken by 50.0% during the third quarter. CWM LLC now owns 906 shares of the industrial products company's stock valued at $67,000 after buying an additional 302 shares during the period. Finally, Amica Retiree Medical Trust purchased a new position in shares of Timken during the third quarter valued at approximately $75,000. Hedge funds and other 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.