ZACKS INVESTMENT RESEARCH REDUCED TIMKEN CO (TKR) TO HOLD
05 Jun,2018 Zacks Investment Research lowered shares of Timken Co (NYSE:TKR) from a buy rating to a hold rating in a research report released on Wednesday morning.
Several other equities research analysts also recently commented on the stock. Jefferies Group LLC restated a hold rating and issued a $45.00 target price on shares of Timken in a research note on Tuesday, April 18th. TheStreet upgraded shares of Timken from a c rating to a b- rating in a research note on Thursday, February 9th. Finally, Goldman Sachs Group Inc upgraded shares of Timken from a neutral rating to a buy rating and set a $55.00 target price on the stock in a research note on Friday, January 27th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $44.38.
Shares of Timken (NYSE:TKR) opened at 48.25 on Wednesday. Timken has a 12-month low of $28.72 and a 12-month high of $51.75. The firm has a market cap of $3.75 billion, a PE ratio of 30.67 and a beta of 1.39. The company has a 50 day moving average of $44.69 and a 200-day moving average of $41.43.
Timken (NYSE:TKR) last issued its earnings results on Wednesday, April 26th. The industrial products company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.12. Timken had a net margin of 5.72% and a return on equity of 11.56%. The company had revenue of $703.80 million for the quarter, compared to the consensus estimate of $649.70 million. During the same quarter in the previous year, the company earned $0.46 EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities research analysts forecast that Timken will post $2.28 EPS for the current fiscal year.
In related news, Director Ward J. Timken, Jr. sold 48,073 shares of the company’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $45.12, for a total transaction of $2,169,053.76. Following the transaction, the director now owns 346,143 shares in the company, valued at approximately $15,617,972.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP William R. Burkhart sold 29,542 shares of the company’s stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $45.49, for a total transaction of $1,343,865.58. Following the transaction, the executive vice president now owns 43,277 shares in the company, valued at approximately $1,968,670.73. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,159 shares of company stock worth $3,804,623. 10.30% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of TKR. Canada Pension Plan Investment Board increased its position in shares of Timken by 65.0% in the first quarter. Canada Pension Plan Investment Board now owns 87,600 shares of the industrial products company’s stock valued at $3,960,000 after buying an additional 34,500 shares during the period. Wells Fargo & Company MN increased its position in shares of Timken by 5.0% in the first quarter. Wells Fargo & Company MN now owns 366,515 shares of the industrial products company’s stock valued at $16,567,000 after buying an additional 17,490 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Timken by 1.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 24,882 shares of the industrial products company’s stock valued at $1,125,000 after buying an additional 300 shares during the period. First Bank & Trust increased its position in shares of Timken by 9.7% in the first quarter. First Bank & Trust now owns 7,913 shares of the industrial products company’s stock valued at $358,000 after buying an additional 697 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of Timken by 174.6% in the first quarter. Russell Investments Group Ltd. now owns 101,312 shares of the industrial products company’s stock valued at $4,580,000 after buying an additional 64,421 shares during the period. Institutional investors and hedge funds own 75.87% of the company’s stock.
Timken Company Profile
The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.
