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Bank of America has upgraded Timken (NYSE:TKR) to “Buy.”

Bank of America has upgraded Timken (NYSE:TKR) to “Buy.”

According to The Fly, stock analysts at Bank of America issued a note to investors on Friday in which they stated that they had upgraded their rating on Timken (NYSE: TKR) from “neutral” to “buy.” This information was included in the note that the analysts sent out to investors. As of right now, the price target that the company has established for the business’s shares of the industrial goods company is $87.00, which is an increase from $71.00, the previous price target. Bank of America has set a price objective for the company that indicates a possible gain of 15.28% from the company’s most recent closing price. Bank of America established this price objective.

Over the last few months, TKR has garnered the interest of various research companies. Oppenheimer raised their price objective on Timken stock from $77.00 to $80.00 and upgraded their rating to “outperform” in a research report published on Friday, September 30. The price target that Morgan Stanley has set for Timken has increased from $70.00 to $83.00, as stated in a research report that was made public on Wednesday, December 14. Additionally, an “equal weight” rating was given to the stock by the company. The price objective that Citigroup has set for Timken has been increased to $78, as stated in a research report released on November 1, which can be found here. Stifel Nicolaus raised their price target on Timken from $80.00 to $85.00 and gave the stock a “buy” rating in a research report published on Monday, December 19. StockNews.com upgraded their previous recommendation for Timken, a “buy” rating, to a “strong-buy” rating in a report on the company’s performance published on Friday, October 28. The recommendation to hold the stock was made by two equity research analysts, while five analysts gave the stock a buy rating, and one analyst gave the stock a strong buy rating. The website Bloomberg.com cites an average price goal of $80.44 for the stock, and the stock has been given a consensus rating of “Moderate Buy.”

When trading started on Friday, the price of a share of TKR was $75.47 per share. The company’s financial metrics, including its market capitalization of $5.49 billion, its price-to-earnings ratio of 15.15, its PEG ratio of 0.91, and its beta value of 1.56, are impressive. Timken reached a new all-time high of $76.33 last year, while the company hit a new all-time low of $50.85. The straightforward moving average of the company’s stock price over the past 50 days is $72.11, and the straightforward moving average of its stock price over the past 200 days is $65.98. The debt-to-equity ratio is calculated to be 0.65; the current ratio is calculated to be 2.03; the quick ratio is calculated to be 1.09, and so on.

The results of Timken’s most recent quarterly financial report (NYSE: TKR) were made public on October 26, a Wednesday. The business that produces goods for the industrial sector reported earnings of $1.52 per share for the quarter, which is $0.19 more than the average prediction of $1.33 per share made by the company. The revenue for the quarter came in at $1.14 billion, which is considerably higher than the average prediction of $1.09 billion made by the market business that produces goods for the industrial sector, reported earnings of $1.52 per share for the quarter, which is $0.19 more than the average prediction of $1.33 per share made by the company. The revenue for the quarter came in at $1.14 billion, which is considerably higher than the average prediction of $1.09 billion made by the market. Timken had a return on equity of 18.16%, and the net margin for the company was 8.44%. According to financial analysts, the company Timken is expected to generate earnings of $5.89 per share this year.

Christopher A. Coughlin, the company’s Executive Vice President, sold 15,000 shares of the company’s stock on Friday, October 28. This is just one of the many recent events that have taken place. A total of 1,033,500 dollars’ worth of stock was sold for 69 cents per share, which resulted in the sale of the stock. As a result of the successful transaction completion, the executive vice president now possesses 103,140 shares of the company, each of which is currently valued at $7,146,570.60. If you follow this link, you will be taken to a file submitted to the SEC, which will provide you with additional information regarding the sale. In addition, on November 14, 16,676 shares of the company’s stock were sold by Richard G. Kyle, the Chief Executive Officer of the company. It was determined that the transaction involving the shares was worth a total of $1,234,524.28, with an average price of $74.03 being obtained for each share. As a result of the successful transaction completion, the Chief Executive Officer (CEO) now owns 339,843 shares, which are currently worth USD 25,158,577.29. Should you follow this link, you will be taken to the SEC filing in which the transaction was discussed in greater detail.

On top of that, Executive Vice President Christopher A. Coughlin sold 15,000 company stock on October 28. It was determined that the shares were sold at an average price of 69.29 cents per share, which led to a total sale volume of $1,033,500.00. After the deal’s completion, the executive vice president gained direct ownership of 103,140 shares. These shares have a value of approximately $7,146,570.60. Disclosures that are related to the sale might be found in this section of the website. Business insiders were responsible for the sale of 67,244 shares of company stock at a total value of $4,853,869 over the past ninety days. Currently, company insiders own 10.79% of the company’s shares of stock.

Important shareholders have just recently made adjustments to their existing stock holdings. The amount of $39,000 was invested in Timken by Ronald Blue Trust Inc. during the second quarter of the fiscal year. Timken received an additional investment of approximately $35,000 during the second quarter from Venture Visionary Partners LLC, bringing the total amount of that company’s ownership in Timken to almost 100%. The Private Trust Company of North America increased its shareholding in Timken by making an additional investment of $35,000 during the second quarter of the fiscal year. The value of Janiczek Wealth Management LLC’s holdings in Timken increased by 222.9% during the second quarter compared to the previous quarter. During the most recent quarter, Janiczek Wealth Management LLC increased its holdings in the industrial goods business by purchasing an additional 468 shares. This brought the total number of shares it currently owns in the industrial goods business to 678, with a value of $44,000.

Last but not least, My Personal CFO LLC spent close to sixty thousand dollars during the fourth quarter to acquire a new stake in Timken. This certainly should not be considered the least important point. Institutional investors and hedge funds jointly own 82.00% of the total number of shares outstanding in the company, meaning that these two types of investors control most of the company.

The Timken Company is accountable for the design, production, and management of all of its engineered bearings and power transmission products located anywhere in the world. It is possible to divide it into two primary categories: the mobile and the process industries. The Mobile Industries segment offers engineered chains, augers, belts, couplings, clutches, and brakes to original equipment manufacturers (OEMs) and end-users of off-highway equipment. In addition, this segment offers related products and maintenance services. The agricultural industry, construction, mining, outdoor power equipment, and power sports are all included in these markets.

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