ValuEngine upgraded shares of Timken (NYSE:TKR) from a strong sell rating to a sell rating in a research note issued to investors on Saturday, July 28th.

Several other research firms also recently weighed in on TKR. Vertical Research upgraded Timken from a hold rating to a buy rating in a research report on Friday, May 4th. Bank of America boosted their price objective on Timken from $50.00 to $51.00 and gave the company an underperform rating in a research report on Tuesday, May 22nd. KeyCorp upgraded Timken from a sector weight rating to an overweight rating and set a $54.00 price objective on the stock in a research report on Wednesday, June 27th. CL King began coverage on Timken in a research report on Thursday, June 28th. They issued a neutral rating on the stock. Finally, Stifel Nicolaus upgraded Timken from a hold rating to a buy rating and boosted their price objective for the company from $52.00 to $60.00 in a research report on Monday, May 28th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $53.83.
Shares of Timken traded down $0.15, reaching $46.50, on Friday, Marketbeat.com reports. The company’s stock had a trading volume of 1,335,728 shares, compared to its average volume of 695,675. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.76 and a beta of 1.60. Timken has a 52 week low of $41.85 and a 52 week high of $55.65. The company has a current ratio of 2.39, a quick ratio of 1.24 and a debt-to-equity ratio of 0.57.
Timken (NYSE:TKR) last released its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.03. The firm had revenue of $906.30 million for the quarter, compared to the consensus estimate of $904.77 million. Timken had a return on equity of 18.39% and a net margin of 7.60%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. equities research analysts forecast that Timken will post 4.12 EPS for the current fiscal year.
In other news, CFO Philip D. Fracassa sold 3,739 shares of the company’s stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $47.71, for a total transaction of $178,387.69. Following the transaction, the chief financial officer now owns 43,534 shares of the company’s stock, valued at $2,077,007.14. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ward J. Timken, Jr. sold 4,002 shares of the company’s stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $49.10, for a total value of $196,498.20. Following the transaction, the director now directly owns 269,902 shares in the company, valued at approximately $13,252,188.20. The disclosure for this sale can be found here. Insiders own 11.15% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. acquired a new position in shares of Timken in the 2nd quarter valued at $7,051,000. Boston Partners increased its position in shares of Timken by 2.6% in the 2nd quarter. Boston Partners now owns 1,944,278 shares of the industrial products company’s stock valued at $84,673,000 after acquiring an additional 48,733 shares during the period. Sei Investments Co. increased its position in shares of Timken by 11.1% in the 2nd quarter. Sei Investments Co. now owns 201,451 shares of the industrial products company’s stock valued at $8,772,000 after acquiring an additional 20,082 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Timken in the 2nd quarter valued at $803,000. Finally, Pitcairn Co. purchased a new stake in Timken in the second quarter valued at $233,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.