Evercore ISI Forecasts Strong Price Appreciation for Timken (NYSE:TKR) Stock

Timken (NYSE:TKR - Free Report) had its price objective raised by Evercore ISI from $91.00 to $102.00 in a research note published on Wednesday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the industrial products company's stock.

A number of other research firms have also weighed in on TKR. KeyCorp reissued a "sector weight" rating on shares of Timken in a research report on Friday, November 22nd. Citigroup dropped their target price 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. Morgan Stanley lifted their price target on Timken from $93.00 to $94.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. DA Davidson reduced their price objective 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. Finally, Bank of America upgraded 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. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $92.70.

Timken Price Performance

Shares of TKR stock traded down $2.54 during trading hours on Wednesday, hitting $81.26. The stock had a trading volume of 557,574 shares, compared to its average volume of 696,414. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. Timken has a one year low of $69.35 and a one year high of $94.71. The stock's 50-day moving average price is $76.49 and its two-hundred day moving average price is $79.33. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 1.50 and a beta of 1.39.

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

Timken Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th will be given a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $1.36 annualized dividend and a yield of 1.67%. 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 company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the transaction, the chief financial officer now directly owns 90,541 shares of the company's stock, valued at $7,379,091.50. This represents a 5.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 8.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning grew its holdings in shares of Timken by 11.1% during the third quarter. Creative Planning now owns 10,138 shares of the industrial products company's stock worth $855,000 after buying an additional 1,015 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Timken by 20.0% in the third quarter. Blue Trust Inc. now owns 997 shares of the industrial products company's stock valued at $80,000 after acquiring an additional 166 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Timken by 10.3% in the 3rd quarter. Raymond James & Associates now owns 182,749 shares of the industrial products company's stock valued at $15,404,000 after buying an additional 17,124 shares during the period. Sequoia Financial Advisors LLC grew its holdings in Timken by 72.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,705 shares of the industrial products company's stock worth $481,000 after acquiring an additional 2,405 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Timken by 8,327.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,854 shares of the industrial products company's stock worth $156,000 after acquiring an additional 1,832 shares in the last quarter. 89.08% of the stock is 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.