1 day Ago By ABMN Staff
Timken ( NYSE:TKR – Get Free Report ) ‘s stock had its “buy” rating reissued by equities research analysts at DA Davidson in a research note issued on Tuesday, Benzinga reports. They currently have a $103.00 price objective on the industrial products company’s stock.
DA Davidson’s price target suggests a potential upside of 26.82% from the company’s current price. Other analysts have also recently issued research reports about the company.
KeyCorp increased their target price on Timken from $95.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd.
Raymond James initiated coverage on Timken in a research report on Friday, June 28th. They set a “market perform” rating for the company. Finally, Evercore ISI cut their target price on Timken from $94.
00 to $87.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock.
Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $89.18. View Our Latest Stock Report on TKR Timken Price Performance Timken ( NYSE:TKR – Get Free Report ) last released its earnings results on Wednesday, July 31st.
The industrial products company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.
03. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.
18 billion. Timken had a return on equity of 16.36% and a net margin of 7.
52%. Timken’s quarterly revenue was down 7.1% compared to the same quarter last year.
During the same period in the previous year, the business earned $2.01 earnings per share. Sell-side analysts predict that Timken will post 6.
11 earnings per share for the current year. Insider Activity In other news, CEO Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th.
The stock was sold at an average price of $80.46, for a total value of $2,413,800.00.
Following the completion of the sale, the chief executive officer now directly owns 244,485 shares of the company’s stock, valued at approximately $19,671,263.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website .
Corporate insiders own 8.70% of the company’s stock. Institutional Investors Weigh In On Timken A number of institutional investors and hedge funds have recently modified their holdings of the business.
Vanguard Group Inc. lifted its stake in shares of Timken by 5.6% during the 1st 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 last quarter. American Century Companies Inc.
lifted its stake in shares of Timken by 4.8% during the 2nd quarter. American Century Companies Inc.
now owns 2,817,294 shares of the industrial products company’s stock worth $225,750,000 after acquiring an additional 128,791 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Timken by 4.9% during the 2nd quarter.
Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock worth $168,667,000 after acquiring an additional 97,550 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of Timken by 2.1% during the 2nd quarter.
Earnest Partners LLC now owns 1,322,312 shares of the industrial products company’s stock worth $105,957,000 after acquiring an additional 26,671 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Timken by 15.8% during the 4th quarter.
Hotchkis & Wiley Capital Management LLC now owns 1,313,122 shares of the industrial products company’s stock worth $105,247,000 after acquiring an additional 178,870 shares during the last quarter. 89.08% of the stock is owned by institutional investors.
Timken Company Profile ( Get Free Report ) 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. Read More Receive News & Ratings for Timken Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Timken and related companies with MarketBeat.
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