Timken Company (The) (NYSE:TKR) had its target price increased by Jefferies Group LLC to $45.00 in a report published on Monday morning.

Other equities research analysts have also recently issued reports about the stock. TheStreet upgraded shares of Timken Company (The) from a c rating to a b- rating in a report on Thursday, February 9th. Goldman Sachs Group, Inc. (The) upgraded shares of Timken Company (The) from a neutral rating to a buy rating and set a $55.00 price objective for the company in a report on Friday, January 27th. Stifel Nicolaus cut shares of Timken Company (The) from a buy rating to a hold rating and upped their price objective for the stock from $37.00 to $42.00 in a report on Thursday, December 8th. Zacks Investment Research upgraded shares of Timken Company (The) from a sell rating to a hold rating in a report on Thursday, December 29th. Finally, Bank of America Corporation cut shares of Timken Company (The) from a buy rating to a neutral rating and set a $40.00 price objective for the company. in a report on Thursday, November 17th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $42.25.

Shares of Timken Company (NYSE:TKR) traded down 1.10% during midday trading on Monday, reaching $45.05. 57,220 shares of the company’s stock traded hands. The firm has a market cap of $3.50 billion, a PE ratio of 23.46 and a beta of 1.39. The company has a 50 day moving average of $43.22 and a 200 day moving average of $37.36. Timken Company has a 52-week low of $28.32 and a 52-week high of $46.45. 

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 3rd. Stockholders of record on Wednesday, February 22nd will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Friday, February 17th. Timken Company (The)’s dividend payout ratio is currently 54.17%. 

Several hedge funds and other institutional investors have recently made changes to their positions in TKR. Tyers Asset Management LLC bought a new position in shares of Timken Company (The) during the fourth quarter worth approximately $130,000. Flinton Capital Management LLC bought a new position in shares of Timken Company (The) during the fourth quarter worth approximately $158,000. LS Investment Advisors LLC raised its position in shares of Timken Company (The) by 8.8% in the third quarter. LS Investment Advisors LLC now owns 4,593 shares of the company’s stock worth $161,000 after buying an additional 371 shares in the last quarter. Acrospire Investment Management LLC raised its position in shares of Timken Company (The) by 118.7% in the third quarter. Acrospire Investment Management LLC now owns 5,527 shares of the company’s stock worth $194,000 after buying an additional 3,000 shares in the last quarter. Finally, M&T Bank Corp bought a new position in shares of Timken Company (The) during the third quarter worth approximately $206,000. 75.87% of the stock is owned by institutional investors and hedge funds. 

Timken Company (The) Company Profile

The Timken Company engineers, manufactures and markets bearings, transmissions, gearboxes, chain and related products and offers a spectrum of power system rebuild and repair services around the world. The Company operates through two segments: Mobile Industries, which offers bearings, seals, lubrication devices and systems, as well as power transmission components, engineered chain, augers and related products and maintenance services, and Process Industries, which provides industrial bearings and assemblies, power transmission components such as gears and gearboxes, couplings, seals, lubricants, chains and related products and services.