Swiss National Bank Has $11.02 Million Stake in The Timken Company (NYSE:TKR)

Swiss National Bank reduced its stake in The Timken Company (NYSE:TKR) by 0.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,700 shares of the industrial products company’s stock after selling 400 shares during the period. Swiss National Bank’s holdings in Timken were worth $11,017,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BOKF NA increased its holdings in Timken by 2.3% in the 1st quarter. BOKF NA now owns 12,369 shares of the industrial products company’s stock valued at $1,087,000 after buying an additional 275 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Timken by 1.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 89,317 shares of the industrial products company’s stock worth $7,810,000 after purchasing an additional 1,667 shares during the last quarter. Interval Partners LP acquired a new stake in shares of Timken in the 1st quarter valued at $22,907,000. Comerica Bank increased its stake in shares of Timken by 13.8% in the 1st quarter. Comerica Bank now owns 58,945 shares of the industrial products company’s stock valued at $5,154,000 after purchasing an additional 7,160 shares during the last quarter. Finally, EMC Capital Management raised its holdings in shares of Timken by 25.9% during the 1st quarter. EMC Capital Management now owns 3,505 shares of the industrial products company’s stock worth $306,000 after buying an additional 720 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. DA Davidson decreased their target price on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $87.00 to $91.00 in a research report on Wednesday, November 13th. Citigroup initiated coverage on shares of Timken in a research report on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price on the stock. KeyCorp reiterated a “sector weight” rating on shares of Timken in a research note on Friday. Finally, Oppenheimer cut their price objective on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $90.00.

Insiders Place Their Bets

In related news, Director Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the sale, the director now owns 194,485 shares in the company, valued at $14,895,606.15. This represents a 13.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.70% of the company’s stock.

Timken Trading Up 1.0 %

Shares of TKR stock opened at $75.96 on Monday. The Timken Company has a 1-year low of $71.57 and a 1-year high of $94.71. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.12 and a beta of 1.43. The stock has a 50-day moving average of $81.45 and a 200-day moving average of $82.80.

Timken (NYSE:TKR) last released its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The firm 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 business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.55 EPS. On average, equities research analysts forecast that The Timken Company will post 5.61 earnings per share for the current year.

Timken Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a yield of 1.79%. Timken’s dividend payout ratio (DPR) is currently 28.27%.

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.