Connor Clark & Lunn Investment Management Ltd. Invests $574,000 in The Timken Company (NYSE:TKR)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in The Timken Company (NYSE:TKR) during the 4th quarter, Holdings Channel reports. The fund bought 8,042 shares of the industrial products company’s stock, valued at approximately $574,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Fairway Wealth LLC bought a new position in Timken during the 4th quarter worth approximately $29,000. Amundi grew its holdings in shares of Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after buying an additional 174 shares during the period. Brooklyn Investment Group acquired a new position in shares of Timken in the 3rd quarter valued at $74,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Timken in the 4th quarter valued at $109,000. Finally, AlphaQuest LLC raised its stake in Timken by 25,983.3% during the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock worth $112,000 after buying an additional 1,559 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Evercore ISI lifted their price target on shares of Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Jefferies Financial Group raised Timken from a “hold” rating to a “buy” rating and lifted their price target for the company from $80.00 to $95.00 in a research note on Friday, December 6th. Citigroup reduced their price objective on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $73.00 to $78.00 in a research report on Tuesday, February 4th. Finally, Morgan Stanley increased their price target on shares of Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.70.

Timken Stock Down 0.4 %

Shares of TKR opened at $74.35 on Friday. The Timken Company has a 52 week low of $69.35 and a 52 week high of $94.71. The firm has a market cap of $5.20 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.51 and a beta of 1.37. The firm’s 50-day simple moving average is $78.21 and its 200 day simple moving average is $78.44. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating 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%. On average, analysts forecast that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Tuesday, February 25th. Timken’s dividend payout ratio is 27.25%.

Insider Activity

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

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.