The Timken Company (NYSE:TKR) Plans $0.34 Quarterly Dividend

The Timken Company (NYSE:TKR) declared a quarterly dividend on Friday, February 14th,RTT News reports. Stockholders of record on Tuesday, February 25th will be given a dividend of 0.34 per share by the industrial products company on Friday, March 7th. This represents a $1.36 annualized dividend and a dividend yield of 1.64%.

Timken has raised its dividend payment by an average of 4.3% per year over the last three years and has increased its dividend annually for the last 11 consecutive years. Timken has a dividend payout ratio of 20.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Timken to earn $6.95 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 19.6%.

Timken Trading Down 0.0 %

NYSE:TKR opened at $83.09 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.62. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 1.21 and a beta of 1.39. Timken has a one year low of $69.35 and a one year high of $94.71. The business has a fifty day moving average price of $76.01 and a 200-day moving average price of $79.36.

Timken (NYSE:TKR) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. Sell-side analysts forecast that Timken will post 5.6 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Morgan Stanley upped their price objective on Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday. Jefferies Financial Group upgraded Timken from a “hold” rating to a “buy” rating and increased their price target for the stock from $80.00 to $95.00 in a research note on Friday, December 6th. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $87.00 to $91.00 in a research note on Wednesday, November 13th. Oppenheimer cut their price target on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, DA Davidson cut their price target on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.60.

Insider Activity

In other news, CFO Philip D. Fracassa sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the transaction, the chief financial officer now owns 90,541 shares in the company, valued at $7,379,091.50. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 8.70% 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.