Zacks Investment Research upgraded shares of Timken (NYSE:TKR) from a sell rating to a hold rating in a research note published on Saturday, Zacks.com reports.

According to Zacks, “The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain and related products, and offers a spectrum of powertrain rebuild and repair services. The leading authority on tapered roller bearings, Timken today applies its deep knowledge of metallurgy, tribology and mechanical power transmission across a variety of bearings and related systems to improve reliability and efficiency of machinery and equipment all around the world. The company’s growing product and services portfolio features many strong industrial brands including Timken, Fafnir, Philadelphia Gear, Carlisle, Drives and Interlube. “

A number of other equities analysts have also recently issued reports on TKR. ValuEngine upgraded shares of WPP from a sell rating to a hold rating in a research report on Wednesday, June 19th. Morgan Stanley set a $143.00 target price on shares of FedEx and gave the stock a hold rating in a research report on Monday, June 10th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Timken has an average rating of Hold and an average price target of $53.63.

TKR stock opened at $48.74 on Friday. The stock has a market capitalization of $3.68 billion, a P/E ratio of 11.66, a P/E/G ratio of 0.98 and a beta of 1.77. Timken has a 52 week low of $33.98 and a 52 week high of $52.45. The business’s 50-day moving average is $48.23. The company has a current ratio of 2.81, a quick ratio of 1.58 and a debt-to-equity ratio of 1.07.

Timken (NYSE:TKR) last released its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.11. The firm had revenue of $979.70 million for the quarter, compared to the consensus estimate of $983.81 million. Timken had a net margin of 8.55% and a return on equity of 21.51%. The firm’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 earnings per share. As a group, analysts predict that Timken will post 5.26 earnings per share for the current year.

In other news, insider Shelly Marie Chadwick sold 2,400 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $51.44, for a total value of $123,456.00. Following the completion of the transaction, the insider now owns 1,443 shares of the company’s stock, valued at $74,227.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Ronald J. Myers sold 13,191 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $50.77, for a total transaction of $669,707.07. Following the completion of the transaction, the executive vice president now directly owns 18,987 shares of the company’s stock, valued at approximately $963,969.99. The disclosure for this sale can be found here. Insiders own 11.58% of the company’s stock.

Several large investors have recently bought and sold shares of TKR. Norges Bank acquired a new position in Timken during the fourth quarter worth approximately $33,099,000. Scout Investments Inc. acquired a new position in Timken during the first quarter worth approximately $27,070,000. Carillon Tower Advisers Inc. acquired a new position in Timken during the first quarter worth approximately $18,352,000. American Century Companies Inc. acquired a new position in Timken during the fourth quarter worth approximately $14,680,000. Finally, BlackRock Inc. increased its position in Timken by 3.3% during the fourth quarter. BlackRock Inc. now owns 6,254,286 shares of the industrial products company’s stock worth $233,409,000 after purchasing an additional 200,956 shares during the last quarter. 78.16% of the stock is owned by institutional investors and hedge funds.

About Timken

The Timken Company engineers, manufactures, and markets engineered bearings and power transmission 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 power transmission 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.

See Also: Liquidity

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