Timken (NYSE:TKR) Sets New 12-Month High – What’s Next?

Timken Company (The) (NYSE:TKR)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $95.31 and last traded at $94.9070, with a volume of 438469 shares trading hands. The stock had previously closed at $93.19.

Analyst Upgrades and Downgrades

TKR has been the topic of several recent analyst reports. Citigroup raised their price target on Timken from $100.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. The Goldman Sachs Group restated a “neutral” rating and issued a $88.00 price objective on shares of Timken in a report on Thursday, October 30th. JPMorgan Chase & Co. increased their target price on Timken from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. DA Davidson raised their price target on shares of Timken from $80.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Finally, Oppenheimer boosted their price objective on shares of Timken from $90.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $85.30.

Timken Price Performance

The stock has a market cap of $6.62 billion, a PE ratio of 22.45, a P/E/G ratio of 1.82 and a beta of 1.21. The business has a fifty day simple moving average of $87.48 and a two-hundred day simple moving average of $80.59. The company has a current ratio of 3.11, a quick ratio of 1.71 and a debt-to-equity ratio of 0.63.

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Tuesday, November 25th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, November 25th. Timken’s payout ratio is 33.10%.

Insider Buying and Selling at Timken

In related news, Director Richard G. Kyle sold 15,837 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $81.03, for a total value of $1,283,272.11. Following the completion of the transaction, the director directly owned 266,942 shares in the company, valued at $21,630,310.26. This trade represents a 5.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Timken

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mather Group LLC. purchased a new position in shares of Timken during the third quarter valued at approximately $25,000. Eastern Bank bought a new position in Timken during the 4th quarter valued at approximately $27,000. SJS Investment Consulting Inc. raised its stake in Timken by 4,512.5% during the third quarter. SJS Investment Consulting Inc. now owns 369 shares of the industrial products company’s stock valued at $28,000 after buying an additional 361 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Timken in the fourth quarter worth $31,000. Finally, CWM LLC grew its stake in shares of Timken by 31.4% in the second quarter. CWM LLC now owns 527 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Company Profile

The Timken Company is a global manufacturer specializing in engineered bearings and mechanical power transmission products. Its core offerings include tapered and cylindrical roller bearings, spherical and plain bearings, mounted bearing units, and precision gear drives. Timken’s products serve a broad range of industries, from industrial machinery and aerospace to automotive, rail, wind energy and heavy equipment.

Beyond bearings, Timken’s portfolio extends to industrial chains, belts, couplings and related components designed to optimize power transmission systems.