Covestor Ltd Has $151,000 Position in The Timken Company (NYSE:TKR)

Covestor Ltd lifted its holdings in The Timken Company (NYSE:TKR) by 20.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,786 shares of the industrial products company’s stock after buying an additional 298 shares during the period. Covestor Ltd’s holdings in Timken were worth $151,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new stake in Timken during the 2nd quarter worth about $4,363,000. Comerica Bank increased its stake in shares of Timken by 13.8% in the first quarter. Comerica Bank now owns 58,945 shares of the industrial products company’s stock worth $5,154,000 after acquiring an additional 7,160 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Timken by 5.6% during the first quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock worth $569,691,000 after acquiring an additional 347,794 shares in the last quarter. Sei Investments Co. boosted its position in Timken by 26.4% during the first quarter. Sei Investments Co. now owns 394,170 shares of the industrial products company’s stock valued at $34,462,000 after purchasing an additional 82,382 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Timken by 29.4% in the 1st quarter. Russell Investments Group Ltd. now owns 138,705 shares of the industrial products company’s stock worth $12,127,000 after purchasing an additional 31,552 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Stock Down 0.4 %

TKR opened at $76.52 on Tuesday. The Timken Company has a fifty-two week low of $70.15 and a fifty-two week high of $94.71. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.64. The firm’s fifty day moving average price is $82.25 and its two-hundred day moving average price is $83.67. The company has a market capitalization of $5.37 billion, a P/E ratio of 15.91, a P/E/G ratio of 1.14 and a beta of 1.43.

Timken (NYSE:TKR) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Timken had a return on equity of 14.82% and a net margin of 7.41%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the company earned $1.55 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. On average, analysts anticipate that The Timken Company will post 5.62 EPS for the current year.

Timken Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be given a $0.34 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a yield of 1.78%. Timken’s payout ratio is 28.27%.

Analyst Ratings Changes

A number of analysts have issued reports on TKR shares. Evercore ISI reduced their target price on shares of 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, October 14th. They issued a “neutral” rating and a $90.00 target price for the company. Oppenheimer dropped their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. KeyCorp decreased their price objective on shares of Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Finally, DA Davidson dropped their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $89.60.

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.