Timken (NYSE:TKR) was upgraded by analysts at Longbow Research from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, January 2nd, Marketbeat reports.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised Timken from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Thursday, September 28th. Jefferies Group restated a “hold” rating and issued a $50.00 price target on shares of Timken in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $52.00.
Timken (NYSE TKR) opened at $55.25 on Tuesday. The company has a current ratio of 2.59, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. Timken has a 1-year low of $41.78 and a 1-year high of $55.35. The stock has a market capitalization of $4,280.00, a PE ratio of 22.01, a price-to-earnings-growth ratio of 1.46 and a beta of 1.50.
In related news, insider Richard G. Kyle sold 9,242 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $49.75, for a total value of $459,789.50. Following the completion of the sale, the insider now directly owns 89,236 shares in the company, valued at approximately $4,439,491. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.08% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Contravisory Investment Management Inc. acquired a new position in Timken in the 4th quarter valued at $148,000. Advisor Group Inc. raised its holdings in shares of Timken by 19.7% during the 2nd quarter. Advisor Group Inc. now owns 4,051 shares of the industrial products company’s stock worth $187,000 after buying an additional 666 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Timken during the 4th quarter worth $201,000. Creative Planning acquired a new position in shares of Timken during the 4th quarter worth $210,000. Finally, Calamos Advisors LLC acquired a new position in shares of Timken during the 2nd quarter worth $210,000. 79.09% of the stock is owned by hedge funds and other institutional investors.
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Timken Company Profile
The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, belts, chain, couplings and related products and offers a spectrum of power system rebuild and repair services across the world. The Company operates through two segments: Mobile Industries and Process Industries.
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