The Timken Company (NYSE:TKR) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its holdings in The Timken Company (NYSE:TKR) by 31.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,513 shares of the industrial products company’s stock after selling 3,371 shares during the period. Commonwealth Equity Services LLC’s holdings in Timken were worth $536,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vestcor Inc purchased a new position in shares of Timken during the 3rd quarter valued at approximately $560,000. TT International Asset Management LTD boosted its stake in Timken by 1,075.2% during the 3rd quarter. TT International Asset Management LTD now owns 39,274 shares of the industrial products company’s stock valued at $3,310,000 after acquiring an additional 35,932 shares during the last quarter. Barclays PLC boosted its stake in Timken by 221.6% during the 3rd quarter. Barclays PLC now owns 86,667 shares of the industrial products company’s stock valued at $7,307,000 after acquiring an additional 59,716 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Timken by 29.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company’s stock worth $4,327,000 after acquiring an additional 13,697 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Timken in the 4th quarter worth about $14,460,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

Insider Activity at Timken

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the business’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 sale, the chief financial officer now directly owns 90,541 shares in the company, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.70% of the stock is owned by insiders.

Timken Stock Performance

Shares of TKR opened at $59.88 on Friday. The firm has a fifty day moving average of $77.08 and a 200-day moving average of $77.86. The company has a market cap of $4.19 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The Timken Company has a 1 year low of $58.26 and a 1 year high of $94.71.

Timken (NYSE:TKR) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. As a group, equities analysts anticipate that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken’s dividend payout ratio (DPR) is 27.25%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. The Goldman Sachs Group decreased their price target on Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday. Jefferies Financial Group reiterated a “hold” rating and issued a $70.00 price target (down from $90.00) on shares of Timken in a report on Wednesday. Citigroup reduced their price objective on Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Finally, Morgan Stanley raised their price target on shares of Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.82.

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.