American International Group Inc. Reduces Stock Position in The Timken Company (NYSE:TKR)

American International Group Inc. lessened its holdings in The Timken Company (NYSE:TKR) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 87,644 shares of the industrial products company’s stock after selling 4,414 shares during the quarter. American International Group Inc.’s holdings in Timken were worth $7,025,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC purchased a new position in Timken in the fourth quarter valued at $35,000. Anchor Investment Management LLC purchased a new position in shares of Timken during the fourth quarter worth about $58,000. Quent Capital LLC grew its holdings in shares of Timken by 50.4% during the fourth quarter. Quent Capital LLC now owns 1,018 shares of the industrial products company’s stock worth $82,000 after purchasing an additional 341 shares during the last quarter. Ramirez Asset Management Inc. purchased a new position in shares of Timken during the third quarter worth about $81,000. Finally, Johnson Financial Group Inc. grew its holdings in shares of Timken by 145.4% during the fourth quarter. Johnson Financial Group Inc. now owns 1,264 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 749 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Price Performance

Shares of NYSE:TKR opened at $81.64 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 0.66. The company has a market cap of $5.75 billion, a P/E ratio of 15.55, a PEG ratio of 1.75 and a beta of 1.50. The Timken Company has a 52 week low of $65.71 and a 52 week high of $95.08. The company has a 50-day moving average price of $86.66 and a 200 day moving average price of $83.57.

Timken (NYSE:TKR) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.15 billion. Timken had a net margin of 7.99% and a return on equity of 17.98%. The firm’s revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.09 earnings per share. Research analysts predict that The Timken Company will post 6.19 earnings per share for the current year.

Timken Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were given a $0.34 dividend. The ex-dividend date was Monday, May 13th. This represents a $1.36 dividend on an annualized basis and a yield of 1.67%. This is an increase from Timken’s previous quarterly dividend of $0.33. Timken’s dividend payout ratio (DPR) is presently 25.90%.

Insider Activity at Timken

In other news, CFO Philip D. Fracassa sold 10,000 shares of Timken stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $89.76, for a total transaction of $897,600.00. Following the completion of the sale, the chief financial officer now directly owns 105,541 shares in the company, valued at approximately $9,473,360.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Philip D. Fracassa sold 10,000 shares of Timken stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $89.76, for a total transaction of $897,600.00. Following the completion of the sale, the chief financial officer now directly owns 105,541 shares in the company, valued at approximately $9,473,360.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Christopher A. Coughlin sold 29,006 shares of Timken stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the sale, the executive vice president now owns 84,995 shares of the company’s stock, valued at $7,590,053.50. The disclosure for this sale can be found here. Insiders sold a total of 59,006 shares of company stock worth $5,269,636 over the last 90 days. Company insiders own 8.70% of the company’s stock.

Wall Street Analyst Weigh In

TKR has been the topic of several research reports. KeyCorp raised their price objective on Timken from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Loop Capital raised their price objective on Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Stifel Nicolaus raised their price objective on Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Oppenheimer reissued an “outperform” rating and set a $100.00 price target (up previously from $97.00) on shares of Timken in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $87.91.

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.