Covestor Ltd Purchases 298 Shares of The Timken Company (NYSE:TKR)

Covestor Ltd increased its position in The Timken Company (NYSE:TKR) by 20.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,786 shares of the industrial products company’s stock after purchasing an additional 298 shares during the quarter. Covestor Ltd’s holdings in Timken were worth $151,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc bought a new position in shares of Timken during the 2nd quarter worth approximately $30,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Timken by 1,905.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after buying an additional 343 shares during the period. Livelsberger Financial Advisory bought a new position in Timken in the 3rd quarter valued at about $32,000. UMB Bank n.a. lifted its position in Timken by 64.1% during the third quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 168 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Timken during the second quarter worth approximately $44,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Stock Performance

Timken stock opened at $76.52 on Tuesday. The Timken Company has a 1 year low of $70.15 and a 1 year high of $94.71. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.64. The company has a market capitalization of $5.37 billion, a P/E ratio of 15.91, a P/E/G ratio of 1.14 and a beta of 1.43. The business has a 50 day moving average of $82.25 and a 200-day moving average of $83.67.

Timken (NYSE:TKR) last released its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. The firm’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.55 EPS. On average, equities research analysts predict that The Timken Company will post 5.62 earnings per share for the current year.

Timken Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be given a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.78%. Timken’s dividend payout ratio is currently 28.27%.

Analysts Set New Price Targets

TKR has been the subject of several recent research reports. Oppenheimer reduced 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. Citigroup initiated coverage on shares of Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 price target on the stock. KeyCorp cut their price objective on shares of Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Evercore ISI cut their price target on Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, DA Davidson lowered their price objective on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $89.60.

About Timken

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.