Timken (NYSE:TKR) Shares Gap Up to $86.70

The Timken Company (NYSE:TKR) shares gapped up before the market opened on Tuesday . The stock had previously closed at $86.70, but opened at $91.53. Timken shares last traded at $93.54, with a volume of 328,216 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Oppenheimer reissued an “outperform” rating and set a $100.00 price target (up from $97.00) on shares of Timken in a research report on Thursday, March 21st. The Goldman Sachs Group raised their price objective on shares of Timken from $78.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. DA Davidson started coverage on shares of Timken in a research note on Tuesday, January 23rd. They set a “buy” rating and a $92.00 price objective for the company. Morgan Stanley started coverage on shares of Timken in a research note on Monday, January 8th. They set an “equal weight” rating and a $74.00 price objective for the company. Finally, StockNews.com lowered shares of Timken from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Timken has a consensus rating of “Hold” and an average target price of $85.90.

Timken Price Performance

The firm’s fifty day moving average price is $85.43 and its 200 day moving average price is $79.59. The company has a quick ratio of 0.96, a current ratio of 1.79 and a debt-to-equity ratio of 0.66. The stock has a market cap of $6.41 billion, a PE ratio of 17.32, a P/E/G ratio of 1.18 and a beta of 1.54.

Timken (NYSE:TKR) last released its quarterly earnings results on Monday, February 5th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.15. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.06 billion. Timken had a net margin of 8.26% and a return on equity of 19.57%. Timken’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 earnings per share. As a group, equities analysts expect that The Timken Company will post 6.02 EPS for the current fiscal year.

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Friday, February 16th. Timken’s dividend payout ratio (DPR) is 24.18%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Treasurer of the State of North Carolina grew its holdings in shares of Timken by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 34,728 shares of the industrial products company’s stock worth $2,552,000 after purchasing an additional 161 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in Timken by 10.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,954 shares of the industrial products company’s stock worth $157,000 after acquiring an additional 179 shares during the period. Portside Wealth Group LLC lifted its stake in Timken by 6.6% in the third quarter. Portside Wealth Group LLC now owns 3,006 shares of the industrial products company’s stock worth $224,000 after acquiring an additional 186 shares during the period. Arizona State Retirement System lifted its stake in Timken by 1.1% in the third quarter. Arizona State Retirement System now owns 18,551 shares of the industrial products company’s stock worth $1,363,000 after acquiring an additional 194 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its stake in Timken by 0.9% in the third quarter. Public Employees Retirement System of Ohio now owns 28,537 shares of the industrial products company’s stock worth $2,097,000 after acquiring an additional 262 shares during the period. Institutional investors own 89.08% of the company’s stock.

Timken Company Profile

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.