The Goldman Sachs Group Has Lowered Expectations for Timken (NYSE:TKR) Stock Price

Timken (NYSE:TKR) had its price target reduced by The Goldman Sachs Group from $85.00 to $75.00 in a report published on Wednesday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Several other equities analysts have also recently issued reports on TKR. Evercore ISI boosted their price target on Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Bank of America raised 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 report on Tuesday, February 4th. Morgan Stanley raised their target price on shares of Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Citigroup dropped their price target on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $70.00 price objective (down previously from $90.00) on shares of Timken in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.82.

Timken Price Performance

TKR stock opened at $59.88 on Wednesday. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $4.19 billion, a P/E ratio of 12.00, a PEG ratio of 1.51 and a beta of 1.28. The business has a 50 day simple moving average of $77.08 and a 200-day simple moving average of $77.86. Timken has a twelve month low of $58.26 and a twelve month high of $94.71.

Timken (NYSE:TKR) last issued its quarterly 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%. As a group, equities analysts anticipate that Timken will post 5.62 EPS for the current year.

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.27%. The ex-dividend date was Tuesday, February 25th. Timken’s payout ratio is currently 27.25%.

Insider Buying and Selling

In other news, CFO Philip D. Fracassa sold 5,000 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $81.50, for a total value of $407,500.00. Following the completion of the transaction, the chief financial officer now owns 90,541 shares in the company, valued at $7,379,091.50. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Timken

Several hedge funds have recently added to or reduced their stakes in the business. Fairway Wealth LLC purchased a new position in shares of Timken during the 4th quarter worth approximately $29,000. Amundi increased its position in Timken by 25.8% during the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 174 shares in the last quarter. Parvin Asset Management LLC purchased a new position in Timken in the 4th quarter valued at about $66,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Timken in the fourth quarter valued at approximately $109,000. Finally, AlphaQuest LLC boosted its position in Timken by 25,983.3% during the fourth quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 1,559 shares during the last quarter. 89.08% of the stock is currently 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.