The Timken Company (NYSE:TKR - Get Free Report) announced a quarterly dividend on Friday, February 14th,RTT News reports. Shareholders of record on Tuesday, February 25th will be paid a dividend of 0.34 per share by the industrial products company on Friday, March 7th. This represents a $1.36 annualized dividend and a yield of 1.63%. The ex-dividend date is Tuesday, February 25th.
Timken has increased its dividend by an average of 4.3% per year over the last three years and has increased its dividend annually for the last 11 consecutive years. Timken has a dividend payout ratio of 20.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Timken to earn $6.95 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 19.6%.
Timken Stock Performance
TKR stock traded up $0.21 during trading hours on Tuesday, hitting $83.36. 735,843 shares of the stock were exchanged, compared to its average volume of 709,830. Timken has a 12 month low of $69.35 and a 12 month high of $94.71. The company has a current ratio of 3.07, a quick ratio of 1.62 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $5.84 billion, a P/E ratio of 16.70, a P/E/G ratio of 1.21 and a beta of 1.39. The company has a 50-day simple moving average of $76.22 and a two-hundred day simple moving average of $79.27.
Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, topping 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%. On average, analysts forecast that Timken will post 5.6 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
TKR has been the subject of several research reports. Bank of America raised shares of Timken from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Jefferies Financial Group upgraded Timken from a "hold" rating to a "buy" rating and boosted their price target for the stock from $80.00 to $95.00 in a report on Friday, December 6th. KeyCorp reiterated a "sector weight" rating on shares of Timken in a report on Friday, November 22nd. DA Davidson decreased their price objective on Timken from $103.00 to $99.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Finally, Morgan Stanley lifted their target price on Timken from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $91.60.
Read Our Latest Stock Analysis on TKR
Insider Buying and Selling at Timken
In other news, CFO Philip D. Fracassa sold 5,000 shares of the business's stock in a transaction that occurred 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 8.70% of the company's stock.
About Timken
(
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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.
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