Timken (NYSE:TKR) Upgraded to "Outperform" at Evercore ISI

Evercore ISI upgraded shares of Timken (NYSE:TKR - Free Report) from an in-line rating to an outperform rating in a research note released on Wednesday morning, Marketbeat Ratings reports. The firm currently has $91.00 price objective on the industrial products company's stock, up from their prior price objective of $87.00.

Several other equities analysts have also recently commented on TKR. DA Davidson reduced their target price on Timken from $103.00 to $99.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Oppenheimer decreased their price objective on shares of Timken from $102.00 to $97.00 and set an "outperform" rating for the company in a report on Wednesday, November 6th. KeyCorp cut their target price on shares of Timken from $104.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 6th. Finally, Citigroup initiated coverage on Timken in a research note on Monday, October 14th. They issued a "neutral" rating and a $90.00 price target for the company. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Timken presently has a consensus rating of "Hold" and a consensus target price of $90.00.

Timken Price Performance

TKR stock traded down $0.10 during trading on Wednesday, hitting $74.53. The stock had a trading volume of 526,622 shares, compared to its average volume of 484,973. Timken has a 1-year low of $71.57 and a 1-year high of $94.71. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The company's 50 day moving average price is $82.12 and its two-hundred day moving average price is $83.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00.

Timken (NYSE:TKR - Get Free Report) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the business earned $1.55 earnings per share. The firm's revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts forecast that Timken will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.82%. Timken's dividend payout ratio (DPR) is presently 28.27%.

Insider Transactions at Timken

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the business'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 transaction, the director now owns 194,485 shares in the company, valued at approximately $14,895,606.15. The trade was a 0.00 % 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

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Timken by 5.6% during the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company's stock worth $569,691,000 after acquiring an additional 347,794 shares during the period. Interval Partners LP bought a new stake in shares of Timken in the 1st quarter worth approximately $22,907,000. American Century Companies Inc. lifted its stake in Timken by 4.8% during the second quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company's stock valued at $225,750,000 after purchasing an additional 128,791 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Timken by 4.2% during the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company's stock worth $225,880,000 after buying an additional 107,350 shares in the last quarter. Finally, Kodai Capital Management LP bought a new position in shares of Timken in the first quarter valued at $9,130,000. 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.