Morgan Stanley Lowers Timken (NYSE:TKR) Price Target to $88.00

Timken (NYSE:TKR - Free Report) had its target price trimmed by Morgan Stanley from $94.00 to $88.00 in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. The firm currently has an overweight rating on the industrial products company's stock.

Other equities analysts also recently issued reports about the company. Citigroup lowered their price objective on Timken from $95.00 to $70.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Jefferies Financial Group restated a "hold" rating and set a $70.00 target price (down previously from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. The Goldman Sachs Group dropped their price target on Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Bank of America upgraded shares of Timken from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Finally, Evercore ISI lifted their price target on shares of Timken from $91.00 to $102.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $84.91.

Timken Price Performance

Shares of Timken stock traded up $0.42 during midday trading on Wednesday, hitting $61.39. 652,480 shares of the company traded hands, compared to its average volume of 554,152. The firm's fifty day moving average price is $72.55 and its 200-day moving average price is $75.99. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 1.51 and a beta of 1.28. Timken has a 12 month low of $56.20 and a 12 month 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.

Timken (NYSE:TKR - Get Free Report) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (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%. As a group, sell-side analysts forecast that Timken will post 5.62 earnings per share for the current year.

Timken Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.22%. Timken's dividend payout ratio is presently 27.25%.

Insider Activity at Timken

In other news, CFO Philip D. Fracassa sold 5,000 shares of the stock in a transaction dated Friday, February 7th. The shares were 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 owns 90,541 shares in the company, valued at $7,379,091.50. This represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Timken

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Timken by 221.6% during the third quarter. Barclays PLC now owns 86,667 shares of the industrial products company's stock valued at $7,307,000 after acquiring an additional 59,716 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Timken by 29.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company's stock worth $4,327,000 after buying an additional 13,697 shares during the last quarter. Raymond James Financial Inc. bought a new position in Timken during the fourth quarter valued at about $14,460,000. Janney Montgomery Scott LLC raised its position in Timken by 25.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 107,102 shares of the industrial products company's stock worth $7,644,000 after acquiring an additional 22,003 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Timken during the 4th quarter valued at approximately $574,000. 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.