Park Avenue Securities LLC Has $229,000 Holdings in The Timken Company (NYSE:TKR)

Park Avenue Securities LLC reduced its position in shares of The Timken Company (NYSE:TKR) by 13.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,722 shares of the industrial products company’s stock after selling 433 shares during the period. Park Avenue Securities LLC’s holdings in Timken were worth $229,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Timken by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock valued at $569,691,000 after buying an additional 347,794 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Timken by 4.8% in the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock valued at $225,750,000 after buying an additional 128,791 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Timken by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock valued at $168,667,000 after acquiring an additional 97,550 shares in the last quarter. Earnest Partners LLC raised its holdings in Timken by 2.1% during the second quarter. Earnest Partners LLC now owns 1,322,312 shares of the industrial products company’s stock worth $105,957,000 after buying an additional 26,671 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Timken by 0.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 529,161 shares of the industrial products company’s stock valued at $42,402,000 after acquiring an additional 3,462 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Insider Activity

In other news, CEO Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $80.76, for a total value of $2,422,800.00. Following the transaction, the chief executive officer now owns 274,485 shares in the company, valued at approximately $22,167,408.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 8.70% of the company’s stock.

Timken Stock Up 0.7 %

Shares of Timken stock opened at $84.67 on Tuesday. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 1.77 and a beta of 1.43. The Timken Company has a 52-week low of $65.71 and a 52-week high of $94.71. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.95. The company’s 50 day moving average price is $82.18 and its 200-day moving average price is $84.15.

Timken (NYSE:TKR) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. Timken had a net margin of 7.52% and a return on equity of 16.36%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the firm earned $2.01 EPS. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. Equities research analysts forecast that The Timken Company will post 6.09 EPS for the current year.

Timken Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 20th were paid a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.36 annualized dividend and a dividend yield of 1.61%. Timken’s payout ratio is 25.90%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TKR shares. DA Davidson reiterated a “buy” rating and issued a $103.00 target price on shares of Timken in a research note on Tuesday, September 17th. Evercore ISI cut their price target on Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Citigroup started coverage on Timken in a report on Monday. They set a “neutral” rating and a $90.00 target price for the company. Finally, Raymond James began coverage on Timken in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Timken has a consensus rating of “Hold” and an average target price of $91.70.

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.