The Timken Company (NYSE:TKR) Receives Average Rating of "Hold" from Brokerages

Release Time：05 Feb,2024

<p style="text-align: center;"><img src="/ueditor/php/upload/image/20240205/1707120904719964.png" title="1707120904719964.png" alt="3.png"/></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">The Timken Company (NYSE:TKR&nbsp;-&nbsp;Get Free Report) has been assigned an average recommendation of &quot;Hold&quot; from the nine ratings firms that are currently covering the firm,&nbsp;MarketBeat Ratings&nbsp;reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $84.70.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">TKR has been the subject of several recent research reports. Citigroup reduced their price target on Timken from $85.00 to $80.00 and set a &quot;neutral&quot; rating for the company in a research report on Friday, October 13th. Jefferies Financial Group cut Timken from a &quot;buy&quot; rating to a &quot;hold&quot; rating and cut their price target for the company from $105.00 to $85.00 in a report on Wednesday, December 20th. KeyCorp cut their target price on Timken from $102.00 to $91.00 and set an &quot;overweight&quot; rating for the company in a research note on Monday, November 6th.&nbsp;StockNews.com&nbsp;raised Timken from a &quot;hold&quot; rating to a &quot;buy&quot; rating in a research note on Thursday. Finally, Morgan Stanley started coverage on Timken in a research note on Monday, January 8th. They issued an &quot;equal weight&quot; rating and a $74.00 price objective for the company.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">In other news, CFO&nbsp;Philip D. Fracassa&nbsp;sold 5,000 shares of the company&#39;s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $74.03, for a total transaction of $370,150.00. Following the completion of the transaction, the chief financial officer now directly owns 88,868 shares of the company&#39;s stock, valued at approximately $6,578,898.04. The transaction was disclosed in a legal filing with the SEC, which is available at&nbsp;this hyperlink. Insiders own 9.89% of the company&#39;s stock.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Institutional Trading of Timken</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning increased its position in Timken by 9.6% during the 2nd quarter. Creative Planning now owns 6,754 shares of the industrial products company&#39;s stock worth $618,000 after purchasing an additional 593 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in shares of Timken by 3.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 8,646 shares of the industrial products company&#39;s stock valued at $791,000 after acquiring an additional 278 shares in the last quarter. Impax Asset Management Group plc acquired a new position in Timken in the second quarter worth about $1,225,000. Victory Capital Management Inc. grew its stake in Timken by 3.0% in the second quarter. Victory Capital Management Inc. now owns 796,662 shares of the industrial products company&#39;s stock worth $72,918,000 after purchasing an additional 23,039 shares in the last quarter. Finally, Comerica Bank acquired a new position in Timken in the second quarter worth about $41,923,000. 84.56% of the stock is owned by hedge funds and other institutional investors.<br/></span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Timken Price Performance</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">TKR&nbsp;opened at $85.92 on Friday. The business has a fifty day moving average of $78.40 and a 200 day moving average of $76.67. Timken has a 52-week low of $65.71 and a 52-week high of $95.08. The company has a quick ratio of 0.93, a current ratio of 1.73 and a debt-to-equity ratio of 0.62. The stock has a market cap of $6.06 billion, a P/E ratio of 14.44, a PEG ratio of 1.05 and a beta of 1.55.<br/></span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Timken (NYSE:TKR&nbsp;-&nbsp;Get Free Report) last issued its earnings results on Wednesday, November 1st. The industrial products company reported $1.55 earnings per share for the quarter, missing analysts&#39; consensus estimates of $1.60 by ($0.05). The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. Timken had a net margin of 9.09% and a return on equity of 19.94%. The company&#39;s revenue for the quarter was up .4% on a year-over-year basis. During the same period last year, the firm earned $1.52 earnings per share. As a group, sell-side analysts anticipate that Timken will post 6.9 EPS for the current year.</span></p><p><br/></p>