The Timken Company (NYSE:TKR) Shares Acquired by Venturi Wealth Management LLC

Venturi Wealth Management LLC boosted its position in The Timken Company (NYSE:TKR) by 230.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,088 shares of the industrial products company’s stock after acquiring an additional 759 shares during the quarter. Venturi Wealth Management LLC’s holdings in Timken were worth $92,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. lifted its position in shares of Timken by 3.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company’s stock worth $407,000 after purchasing an additional 155 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Timken by 29.4% in the 1st quarter. Russell Investments Group Ltd. now owns 138,705 shares of the industrial products company’s stock valued at $12,127,000 after acquiring an additional 31,552 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Timken by 5.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 82,653 shares of the industrial products company’s stock worth $6,754,000 after acquiring an additional 4,262 shares in the last quarter. Chesapeake Capital Corp IL purchased a new stake in Timken during the first quarter worth approximately $499,000. Finally, Vanguard Group Inc. boosted its holdings in Timken by 5.6% in the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock valued at $569,691,000 after purchasing an additional 347,794 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Insider Activity at Timken

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $14,895,606.15. This trade represents a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 8.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Oppenheimer reduced their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Evercore ISI raised shares of Timken from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $87.00 to $91.00 in a research report on Wednesday. Citigroup initiated coverage on Timken in a report on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective on the stock. DA Davidson reduced their price objective on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, KeyCorp cut their target price on shares of Timken from $104.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $90.00.

Timken Price Performance

Shares of NYSE:TKR opened at $74.99 on Friday. The Timken Company has a 52 week low of $71.57 and a 52 week high of $94.71. The company has a 50-day moving average price of $81.95 and a 200 day moving average price of $83.47. The company has a market cap of $5.26 billion, a P/E ratio of 15.59, a PEG ratio of 1.11 and a beta of 1.43. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71.

Timken (NYSE:TKR) last posted its quarterly 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). Timken had a net margin of 7.41% and a return on equity of 14.82%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the firm earned $1.55 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. Research analysts predict that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be issued a $0.34 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.81%. Timken’s dividend payout ratio is presently 28.27%.

Timken 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.