Natixis Advisors LLC Raises Holdings in The Timken Company (NYSE:TKR)

Natixis Advisors LLC lifted its stake in The Timken Company (NYSE:TKR) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,679 shares of the industrial products company’s stock after buying an additional 2,042 shares during the quarter. Natixis Advisors LLC’s holdings in Timken were worth $2,404,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of TKR. Commerce Bank boosted its stake in shares of Timken by 5.5% in the third quarter. Commerce Bank now owns 5,994 shares of the industrial products company’s stock worth $505,000 after buying an additional 310 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Timken by 16.5% in the third quarter. First Horizon Advisors Inc. now owns 1,823 shares of the industrial products company’s stock worth $154,000 after buying an additional 258 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Timken by 0.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 122,557 shares of the industrial products company’s stock worth $10,330,000 after buying an additional 580 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Timken by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 649,952 shares of the industrial products company’s stock worth $54,784,000 after purchasing an additional 1,989 shares during the period. Finally, Penserra Capital Management LLC acquired a new position in Timken in the 3rd quarter worth about $451,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

TKR has been the subject of a number of analyst reports. Jefferies Financial Group raised Timken from a “hold” rating to a “buy” rating and upped their price target for the stock from $80.00 to $95.00 in a report on Friday, December 6th. Evercore ISI upped their price target on Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Citigroup reduced their price target on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Morgan Stanley upped their price target on Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Finally, Bank of America raised Timken from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $73.00 to $78.00 in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $92.70.

Insider Buying and Selling

In related news, CFO Philip D. Fracassa sold 5,000 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $81.50, for a total value of $407,500.00. Following the completion of the transaction, the chief financial officer now directly owns 90,541 shares in the company, valued at approximately $7,379,091.50. This represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 8.70% of the stock is currently owned by company insiders.

Timken Price Performance

TKR stock opened at $74.35 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The business has a 50 day simple moving average of $78.21 and a 200-day simple moving average of $78.43. The firm has a market capitalization of $5.20 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.51 and a beta of 1.37. The Timken Company has a 1 year low of $69.35 and a 1 year high of $94.71.

Timken (NYSE:TKR) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. Equities research analysts anticipate that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were given a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.36 annualized dividend and a yield of 1.83%. Timken’s payout ratio is 27.25%.

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.