Barclays PLC Raises Stock Position in The Timken Company (NYSE:TKR)

Barclays PLC lifted its position in shares of The Timken Company (NYSE:TKR) by 221.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 86,667 shares of the industrial products company’s stock after buying an additional 59,716 shares during the period. Barclays PLC’s holdings in Timken were worth $7,307,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of TKR. Cubist Systematic Strategies LLC acquired a new stake in Timken in the second quarter valued at $4,363,000. American Century Companies Inc. boosted its position 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 worth $225,750,000 after buying an additional 128,791 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Timken in the 3rd quarter valued at about $2,863,000. Hsbc Holdings PLC increased its holdings in Timken by 102.5% during the 2nd quarter. Hsbc Holdings PLC now owns 12,186 shares of the industrial products company’s stock valued at $979,000 after acquiring an additional 6,167 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in Timken by 14.5% during the third quarter. D.A. Davidson & CO. now owns 58,588 shares of the industrial products company’s stock worth $4,938,000 after acquiring an additional 7,406 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Citigroup raised shares of Timken from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $90.00 in a research note on Monday, December 9th. DA Davidson dropped their price target on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Morgan Stanley upgraded Timken from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $82.00 to $93.00 in a research report on Tuesday. Oppenheimer dropped their price objective on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Finally, KeyCorp restated a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Timken currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.90.

Insider Transactions at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the sale, the director now owns 194,485 shares of the company’s stock, valued at $14,895,606.15. This represents a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.70% of the company’s stock.

Timken Stock Down 3.7 %

Shares of TKR opened at $72.00 on Thursday. The firm has a market cap of $5.05 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.12 and a beta of 1.38. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The company’s fifty day moving average is $79.13 and its two-hundred day moving average is $81.22. The Timken Company has a fifty-two week low of $71.70 and a fifty-two week high of $94.71.

Timken (NYSE:TKR) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.15). The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.55 earnings per share. Analysts forecast that The Timken Company will post 5.61 earnings per share for the current year.

Timken Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.89%. Timken’s dividend payout ratio is currently 28.27%.

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.