In yesterday’s Wall Street session, The Timken Company (NYSE:TKR) shares traded at $82.95, down -9.20% from the previous session.
10 analysts cover The Timken Company (NYSE:TKR), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $120.00 and a low of $82.00, we find $100.00. Given the previous closing price of $91.35, this indicates a potential upside of 9.47 percent. TKR stock price is now -4.01% away from the 50-day moving average and 5.27% away from the 200-day moving average. The market capitalization of the company currently stands at $5.94B.
The stock has received a hold rating from 4 analysts and a buy rating from 6. Brokers who have rated the stock have averaged $98.70 as their price target over the next twelve months.
With the price target enhanced from $88 to $100, BofA Securities Downgraded its rating from Buy to Neutral for The Timken Company (NYSE: TKR).
In other news, Kyle Richard G, President and CEO sold 24,432 shares of the company’s stock on May 23. The stock was sold for $1,823,642 at an average price of $74.64. Upon completion of the transaction, the President and CEO now directly owns 383,082 shares in the company, valued at $31.78 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 16, President and CEO Kyle Richard G sold 23,232 shares of the business’s stock. A total of $1,713,825 was realized by selling the stock at an average price of $73.77. This leaves the insider owning 383,082 shares of the company worth $31.78 million. Insiders disposed of 522,545 shares of company stock worth roughly $43.35 million over the past 1 year. A total of 0.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in TKR stock. A new stake in The Timken Company shares was purchased by ADAGE CAPITAL PARTNERS GP, L.L.C. during the first quarter worth $19,576,000. SHELLBACK CAPITAL, LP invested $12,630,000 in shares of TKR during the first quarter. In the first quarter, CEREDEX VALUE ADVISORS LLC acquired a new stake in The Timken Company valued at approximately $11,497,000. CLARIVEST ASSET MANAGEMENT LLC acquired a new stake in TKR for approximately $9,280,000. GREAT LAKES ADVISORS, LLC purchased a new stake in TKR valued at around $7,492,000 in the second quarter.
On Thursday morning The Timken Company (NYSE: TKR) stock kicked off with the opening price of $79.70. During the past 12 months, The Timken Company has had a low of $58.35 and a high of $95.08. As of last week, the company has a debt-to-equity ratio of 0.86, a current ratio of 2.80, and a quick ratio of 1.50. According to the stock market information, the enterprise value for the company is $8.58B, which is based on a 14.82 price-to-earnings ratio, a 1.24 price-to-earnings-growth ratio, and a beta of 1.58. The fifty day moving average price for TKR is $86.57 and a two-hundred day moving average price translates $78.90 for the stock.
The latest earnings results from The Timken Company (NYSE: TKR) was released for Mar, 2023. According to the Tools & Accessories Company, earnings per share came in at $2.09, beating analysts’ expectations of $1.89 by 0.2. This compares to $1.61 EPS in the same period last year. The net profit margin was 8.90% and return on equity was 18.50% for TKR. The company reported revenue of $1.26 billion for the quarter, compared to $1.12 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 12.29 percent. For the current quarter, analysts expect TKR to generate $1.3B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/28/2023. Investors who held shares on 08/15/2023 were paid a $0.33 dividend. On an annualized basis, this represents a $1.32 dividend and a 1.59% percent yield. There was an ex-dividend date of 08/14/2023 for this dividend. In terms of dividend payout ratio, TKR is presently at 22.00%.
The Timken Company(TKR) Company Profile
The Timken Company designs, manufactures, and manages engineered bearings and industrial motion products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as industrial motion components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end-users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives. It also provides power transmission systems and flight-critical components for civil and military aircraft, which include bearings, turbine engine components, gears, and housings. This segment sells its parts through a network of authorized automotive and heavy-truck distributors to individual end-users, equipment owners, operators, and maintenance shops. The Process Industries segment provides industrial bearings and assemblies; industrial motion components, such as gears and gearboxes; and linear motion products, couplings, seals, lubricants, chains, belts, and related products and services to OEMs and end users in various industries. It also offers aftermarket sales and service needs through a network of authorized industrial distributors; and repair and service for bearings and gearboxes, as well as electric motor rewind, repair, and services to end-users. The company offers its products under the Timken, Philadelphia Gear, GGB, Drives, Cone Drive, Rollon, Lovejoy, Diamond, BEKA, Spinea, and Groeneveld brands. The Timken Company was founded in 1899 and is headquartered in North Canton, Ohio.
