Timken (NYSE:TKR) Price Target Cut to $75.00 by Analysts at The Goldman Sachs Group

Timken (NYSE:TKR - Get Free Report) had its price target decreased by research analysts at The Goldman Sachs Group from $85.00 to $75.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the industrial products company's stock. The Goldman Sachs Group's target price would indicate a potential upside of 27.20% from the stock's current price.

TKR has been the topic of several other research reports. Bank of America upgraded Timken from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Jefferies Financial Group reissued a "hold" rating and set a $70.00 price target (down from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Morgan Stanley increased their price objective on shares of Timken from $93.00 to $94.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Citigroup lowered their price target on shares of Timken from $90.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Finally, Evercore ISI boosted their price objective on Timken from $91.00 to $102.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $88.82.

Timken Stock Down 1.9 %

Shares of Timken stock traded down $1.13 during trading on Wednesday, reaching $58.96. The company's stock had a trading volume of 1,228,780 shares, compared to its average volume of 537,195. The company has a 50-day simple moving average of $77.08 and a two-hundred day simple moving average of $77.81. Timken has a 1-year low of $57.51 and a 1-year high of $94.71. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 11.82, a P/E/G ratio of 1.51 and a beta of 1.28. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69.

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

Insider Activity at Timken

In other news, CFO Philip D. Fracassa sold 5,000 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the transaction, the chief financial officer now owns 90,541 shares of the company's stock, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.70% of the company's stock.

Institutional Trading of Timken

Several hedge funds have recently made changes to their positions in the company. Fairway Wealth LLC acquired a new stake in Timken during the fourth quarter worth $29,000. Amundi grew its position in Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company's stock valued at $61,000 after acquiring an additional 174 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in Timken during the 4th quarter worth approximately $66,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Timken during the fourth quarter worth $109,000. Finally, AlphaQuest LLC raised its position in Timken by 25,983.3% in the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company's stock valued at $112,000 after purchasing an additional 1,559 shares in the last quarter. 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.