KeyCorp Reaffirms Sector Weight Rating for Timken (NYSE:TKR)

KeyCorp reissued their sector weight rating on shares of Timken (NYSE:TKR) in a research note published on Friday, Marketbeat reports.

Other research analysts also recently issued research reports about the stock. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $87.00 to $91.00 in a research note on Wednesday, November 13th. Oppenheimer lowered their price target on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Citigroup initiated coverage on Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 price objective on the stock. Finally, 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. Eight equities 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $90.00.

Timken Stock Performance

TKR opened at $77.72 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The business’s 50-day simple moving average is $81.39 and its 200 day simple moving average is $82.70. The firm has a market capitalization of $5.45 billion, a PE ratio of 16.16, a PEG ratio of 1.13 and a beta of 1.43. Timken has a 52-week low of $71.57 and a 52-week high of $94.71.

Timken (NYSE:TKR) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.15). The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.55 EPS. As a group, sell-side analysts expect that Timken will post 5.61 earnings per share for the current fiscal year.

Timken Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be paid a $0.34 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.75%. Timken’s dividend payout ratio (DPR) is presently 28.27%.

Insiders Place Their Bets

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

Institutional Trading of Timken

Several large investors have recently modified their holdings of TKR. Synovus Financial Corp lifted its position in Timken by 5.4% during the third quarter. Synovus Financial Corp now owns 8,286 shares of the industrial products company’s stock worth $698,000 after purchasing an additional 423 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Timken in the 3rd quarter valued at approximately $172,000. World Investment Advisors LLC bought a new stake in shares of Timken during the 3rd quarter worth approximately $409,000. Sanctuary Advisors LLC boosted its position in shares of Timken by 26.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 18,672 shares of the industrial products company’s stock worth $1,574,000 after acquiring an additional 3,884 shares in the last quarter. Finally, TT International Asset Management LTD increased its stake in Timken by 1,075.2% in the third quarter. TT International Asset Management LTD now owns 39,274 shares of the industrial products company’s stock valued at $3,310,000 after acquiring an additional 35,932 shares during the last quarter. 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.