Timken Company (The) (NYSE:TKR) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of Timken Company (The) (NYSE:TKR - Get Free Report) have been assigned an average rating of "Hold" from the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $78.50.

TKR has been the topic of a number of research reports. The Goldman Sachs Group reduced their target price on shares of Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Jefferies Financial Group reiterated a "hold" rating and set a $70.00 target price (down from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Morgan Stanley reduced their target price 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. Oppenheimer reduced their target price on shares of Timken from $90.00 to $88.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Finally, Loop Capital reduced their target price on shares of Timken from $85.00 to $65.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th.

Timken Price Performance

Timken stock traded up $0.00 during trading hours on Wednesday, hitting $70.60. 616,989 shares of the stock were exchanged, compared to its average volume of 576,060. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.71 and a current ratio of 3.15. The stock has a market capitalization of $4.94 billion, a P/E ratio of 15.22, a P/E/G ratio of 1.67 and a beta of 1.28. Timken has a 12 month low of $56.20 and a 12 month high of $90.49. The business's 50-day moving average is $68.32 and its two-hundred day moving average is $72.51.

Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share for the quarter, missing the consensus estimate 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 quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.77 earnings per share. Equities research analysts expect that Timken will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Tuesday, May 13th were issued a $0.35 dividend. This is a positive change from Timken's previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Tuesday, May 13th. Timken's dividend payout ratio is currently 30.17%.

Hedge Funds Weigh In On Timken

Several large investors have recently bought and sold shares of TKR. Victory Capital Management Inc. lifted its holdings in Timken by 108.8% in the first quarter. Victory Capital Management Inc. now owns 1,841,828 shares of the industrial products company's stock valued at $132,372,000 after buying an additional 959,672 shares during the period. Channing Capital Management LLC raised its holdings in Timken by 631.7% in the first quarter. Channing Capital Management LLC now owns 1,083,666 shares of the industrial products company's stock worth $77,883,000 after purchasing an additional 935,554 shares during the period. Norges Bank acquired a new stake in Timken in the fourth quarter worth $42,748,000. Millennium Management LLC raised its holdings in Timken by 1,421.1% in the fourth quarter. Millennium Management LLC now owns 458,700 shares of the industrial products company's stock worth $32,737,000 after purchasing an additional 428,545 shares during the period. Finally, American Century Companies Inc. raised its holdings in Timken by 11.3% in the fourth quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company's stock worth $225,436,000 after purchasing an additional 320,354 shares during the period. 89.08% of the stock is currently 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.