The Timken Company (NYSE:TKR) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC cut its holdings in The Timken Company (NYSE:TKR) by 4.7% in the third quarter, Holdings Channel reports. The institutional investor owned 20,309 shares of the industrial products company’s stock after selling 1,001 shares during the quarter. HighTower Advisors LLC’s holdings in Timken were worth $1,715,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TKR. Verition Fund Management LLC increased its holdings in Timken by 3,179.1% in the 3rd quarter. Verition Fund Management LLC now owns 193,858 shares of the industrial products company’s stock worth $16,340,000 after acquiring an additional 187,946 shares in the last quarter. American Century Companies Inc. raised its position in shares of Timken by 4.8% during the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock worth $225,750,000 after purchasing an additional 128,791 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Timken by 4.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock valued at $225,880,000 after buying an additional 107,350 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Timken by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock worth $168,667,000 after buying an additional 97,550 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Timken during the 2nd quarter worth approximately $6,897,000. 89.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on TKR shares. Jefferies Financial Group raised Timken from a “hold” rating to a “buy” rating and lifted their price target for the stock from $80.00 to $95.00 in a research note on Friday, December 6th. Oppenheimer dropped their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. KeyCorp reiterated a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. DA Davidson lowered their price target on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, Citigroup upgraded shares of Timken from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $90.00 in a report on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Timken has an average rating of “Moderate Buy” and a consensus price target of $91.00.

Insider Buying and Selling at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction on 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 owns 194,485 shares in the company, valued at approximately $14,895,606.15. This represents a 13.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 8.70% of the stock is owned by insiders.

Timken Price Performance

TKR stock opened at $75.50 on Monday. The business’s 50-day moving average is $79.64 and its two-hundred day moving average is $81.45. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. The firm has a market capitalization of $5.29 billion, a P/E ratio of 15.70, a P/E/G ratio of 1.12 and a beta of 1.38. The Timken Company has a 1 year low of $72.35 and a 1 year high of $94.71.

Timken (NYSE:TKR) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (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 firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. Analysts anticipate that The Timken Company will post 5.61 earnings per share for the current fiscal year.

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.80%. The ex-dividend date was Tuesday, November 19th. Timken’s dividend payout ratio (DPR) 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.