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

Timken (NYSE:TKR - Free Report) had its target price lowered by Loop Capital from $85.00 to $65.00 in a research note issued to investors on Thursday morning,Benzinga reports. Loop Capital currently has a hold rating on the industrial products company's stock.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley decreased their target price on shares of Timken from $94.00 to $88.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Evercore ISI increased their price target on Timken from $91.00 to $102.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Jefferies Financial Group restated a "hold" rating and set a $70.00 price objective (down previously from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Bank of America upgraded shares of Timken from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $73.00 to $78.00 in a research note on Tuesday, February 4th. Finally, The Goldman Sachs Group cut their target price on Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $81.91.

Timken Stock Performance

NYSE TKR traded up $1.41 during trading hours on Thursday, hitting $61.60. The company had a trading volume of 606,779 shares, compared to its average volume of 554,128. Timken has a 1-year low of $56.20 and a 1-year high of $94.71. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The company has a market cap of $4.31 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. The business has a 50 day moving average of $72.12 and a 200-day moving average of $75.78.

Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. As a group, equities research analysts expect that Timken will post 5.62 EPS for the current year.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken's dividend payout ratio (DPR) is presently 27.25%.

Insider Transactions at Timken

In related news, CFO Philip D. Fracassa sold 5,000 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $81.50, for a total value of $407,500.00. Following the completion of the sale, the chief financial officer now directly owns 90,541 shares in the company, valued at approximately $7,379,091.50. This represents a 5.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.70% of the company's stock.

Institutional Investors Weigh In On Timken

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

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.