Independent Advisor Alliance Purchases New Shares in The Timken Company (NYSE:TKR)

Independent Advisor Alliance acquired a new position in The Timken Company (NYSE:TKR) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,971 shares of the industrial products company’s stock, valued at approximately $212,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Amundi increased its stake in shares of Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 174 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Timken in the third quarter worth about $74,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Timken during the fourth quarter valued at approximately $109,000. AlphaQuest LLC lifted its holdings in shares of Timken by 25,983.3% during the fourth quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock valued at $112,000 after purchasing an additional 1,559 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of Timken by 16.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,823 shares of the industrial products company’s stock worth $154,000 after purchasing an additional 258 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Trading Up 1.1 %

NYSE:TKR opened at $75.45 on Thursday. The company has a market cap of $5.28 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.51 and a beta of 1.37. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The company has a 50 day simple moving average of $78.16 and a two-hundred day simple moving average of $78.55. The Timken Company has a 12 month low of $69.35 and a 12 month high of $94.71.

Timken (NYSE:TKR) last issued 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%. Research analysts forecast 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 was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken’s dividend payout ratio (DPR) is presently 27.25%.

Analysts Set New Price Targets

A number of research analysts have issued reports on TKR shares. KeyCorp reiterated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Morgan Stanley upped their price target on shares of Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and raised their price objective for the company from $80.00 to $95.00 in a research note on Friday, December 6th. Citigroup dropped their target price on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and raised their price target for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $92.70.

Insider Buying and Selling

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the transaction, the chief financial officer now directly owns 90,541 shares in the company, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.70% of the stock is currently owned by insiders.

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.