Timken (NYSE:TKR) Earns Neutral Rating from Analysts at Citigroup

Citigroup initiated coverage on shares of Timken (NYSE:TKR) in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage issued a neutral rating and a $90.00 price target on the industrial products company’s stock.

Several other research analysts have also commented on TKR. Raymond James assumed coverage on Timken in a report on Friday, June 28th. They set a “market perform” rating on the stock. DA Davidson reiterated a “buy” rating and set a $103.00 price target on shares of Timken in a report on Tuesday, September 17th. Finally, Evercore ISI reduced their price objective on shares of Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Timken has a consensus rating of “Hold” and an average target price of $91.70.

Timken Trading Up 0.7 %

Shares of TKR opened at $87.24 on Monday. Timken has a 52-week low of $65.71 and a 52-week high of $94.71. The company has a quick ratio of 1.64, a current ratio of 2.95 and a debt-to-equity ratio of 0.72. The firm’s fifty day moving average is $82.52 and its two-hundred day moving average is $84.18. The stock has a market cap of $6.12 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 1.83 and a beta of 1.43.

Timken (NYSE:TKR) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.60 by $0.03. Timken had a return on equity of 16.36% and a net margin of 7.52%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the firm earned $2.01 EPS. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. Research analysts forecast that Timken will post 6.08 earnings per share for the current fiscal year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Tuesday, August 20th. Timken’s dividend payout ratio is currently 27.87%.

Insider Buying and Selling at Timken

In other Timken news, CEO Richard G. Kyle sold 30,000 shares of Timken stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $80.76, for a total value of $2,422,800.00. Following the completion of the transaction, the chief executive officer now directly owns 274,485 shares of the company’s stock, valued at $22,167,408.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 8.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Timken

Several institutional investors have recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new position in shares of Timken during the first quarter worth about $26,000. Versant Capital Management Inc acquired a new position in shares of Timken during the second quarter worth about $30,000. EverSource Wealth Advisors LLC grew its position in shares of Timken by 1,905.6% during the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after buying an additional 343 shares in the last quarter. UMB Bank n.a. grew its position in shares of Timken by 64.1% during the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after buying an additional 168 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Timken during the second quarter worth about $44,000. 89.08% of the stock is owned by institutional investors and hedge funds.

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.