Citigroup Lowers Timken (NYSE:TKR) Price Target to $85.00

Timken (NYSE:TKR - Free Report) had its target price trimmed by Citigroup from $90.00 to $85.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the industrial products company's stock.

Several other equities research analysts also recently issued reports on TKR. DA Davidson cut their target price on shares of Timken from $103.00 to $99.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Morgan Stanley raised Timken from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $82.00 to $93.00 in a research report on Tuesday, December 17th. Oppenheimer decreased their target price on Timken from $102.00 to $97.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. Evercore ISI raised Timken from an "in-line" rating to an "outperform" rating and raised their price target for the company from $87.00 to $91.00 in a report on Wednesday, November 13th. Finally, KeyCorp reiterated a "sector weight" rating on shares of Timken in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $92.40.

Timken Stock Up 3.2 %

Shares of TKR stock traded up $2.37 during trading on Tuesday, reaching $76.56. The company's stock had a trading volume of 693,845 shares, compared to its average volume of 670,206. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 1.12 and a beta of 1.39. Timken has a one year low of $69.35 and a one year high of $94.71. The business has a fifty day moving average price of $74.62 and a 200-day moving average price of $79.88. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71.

Timken (NYSE:TKR - Get Free Report) last released its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the firm posted $1.55 EPS. Timken's revenue was down 1.4% compared to the same quarter last year. Analysts anticipate that Timken will post 5.61 earnings per share for the current year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Tuesday, November 19th. Timken's dividend payout ratio is currently 28.27%.

Insiders Place Their Bets

In related news, Director Richard G. Kyle sold 30,000 shares of the company's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the completion of the sale, the director now directly owns 194,485 shares in the company, valued at $14,895,606.15. This represents a 13.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC increased its stake in shares of Timken by 20.7% in the second quarter. Commonwealth Equity Services LLC now owns 9,704 shares of the industrial products company's stock valued at $778,000 after buying an additional 1,662 shares during the period. Choreo LLC bought a new position in shares of Timken during the 2nd quarter worth about $328,000. Federated Hermes Inc. grew its stake in Timken by 6.4% in the second quarter. Federated Hermes Inc. now owns 204,328 shares of the industrial products company's stock valued at $16,373,000 after acquiring an additional 12,305 shares during the period. Thoroughbred Financial Services LLC acquired a new position in shares of Timken during the second quarter valued at about $211,000. Finally, Oppenheimer Asset Management Inc. boosted its stake in Timken by 24.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 50,258 shares of the industrial products company's stock valued at $4,027,000 after purchasing an additional 10,014 shares during the last quarter. Institutional investors and hedge funds 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.