Bank of Montreal Can Lowers Stake in The Timken Company (NYSE:TKR)

Bank of Montreal Can cut its stake in The Timken Company (NYSE:TKR) by 37.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,743 shares of the industrial products company’s stock after selling 13,147 shares during the quarter. Bank of Montreal Can’s holdings in Timken were worth $1,848,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Cetera Advisors LLC grew its stake in Timken by 11.0% in the first quarter. Cetera Advisors LLC now owns 3,717 shares of the industrial products company’s stock valued at $325,000 after purchasing an additional 368 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Timken by 1,905.6% in 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 last quarter. QRG Capital Management Inc. raised its stake in shares of Timken by 3.5% during the 2nd quarter. QRG Capital Management Inc. now owns 50,888 shares of the industrial products company’s stock worth $4,078,000 after acquiring an additional 1,714 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Timken during the second quarter valued at approximately $233,000. Finally, S. R. Schill & Associates acquired a new stake in Timken in the second quarter valued at approximately $380,000. 89.08% of the stock is owned by institutional investors.

Insider Transactions at Timken

In related news, Director Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the transaction, the director now directly owns 194,485 shares in the company, valued at $14,895,606.15. The trade was a 13.36 % decrease in their position. The transaction 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 Price Performance

Shares of NYSE:TKR opened at $76.10 on Friday. 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 Timken Company has a twelve month low of $72.35 and a twelve month high of $94.71. The company’s 50 day moving average is $80.63 and its 200 day moving average is $82.06. The company has a market cap of $5.34 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 1.15 and a beta of 1.38.

Timken (NYSE:TKR) last released its quarterly earnings data 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 business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.55 EPS. On average, sell-side analysts forecast that The Timken Company will post 5.61 EPS for the current year.

Timken Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.36 annualized dividend and a dividend yield of 1.79%. Timken’s dividend payout ratio (DPR) is presently 28.27%.

Wall Street Analyst Weigh In

TKR has been the topic of a number of recent analyst reports. KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Citigroup started coverage on Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 target price on the stock. DA Davidson lowered their price target on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Oppenheimer cut their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $87.00 to $91.00 in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $90.00.

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.