Corient Private Wealth LLC Trims Stake in The Timken Company (NYSE:TKR)

Corient Private Wealth LLC reduced its holdings in The Timken Company (NYSE:TKR) by 39.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,909 shares of the industrial products company’s stock after selling 3,230 shares during the quarter. Corient Private Wealth LLC’s holdings in Timken were worth $350,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of Timken by 0.3% in the third 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 last quarter. Quantbot Technologies LP grew its stake in Timken by 61.2% in the 3rd quarter. Quantbot Technologies LP now owns 13,804 shares of the industrial products company’s stock worth $1,164,000 after buying an additional 5,240 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Timken by 184.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 48,918 shares of the industrial products company’s stock worth $4,123,000 after buying an additional 31,714 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Timken by 7.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,421 shares of the industrial products company’s stock valued at $1,384,000 after buying an additional 1,068 shares in the last quarter. Finally, Cobblestone Capital Advisors LLC NY bought a new stake in shares of Timken during the 3rd quarter worth $266,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on TKR shares. Jefferies Financial Group raised Timken from a “hold” rating to a “buy” rating and increased their target price for the company from $80.00 to $95.00 in a research note on Friday, December 6th. Citigroup cut their price objective 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 raised their price objective on Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Evercore ISI boosted their target price on Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and increased their price target for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Timken has an average rating of “Moderate Buy” and a consensus target price of $92.70.

Timken Stock Down 2.5 %

Shares of NYSE TKR opened at $71.95 on Monday. The firm’s fifty day moving average is $78.08 and its 200 day moving average is $78.29. The Timken Company has a 52 week low of $69.35 and a 52 week high of $94.71. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.51 and a beta of 1.37.

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

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were issued a dividend of $0.34 per share. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.89%. Timken’s dividend payout ratio is presently 27.25%.

Insider Buying and Selling

In related news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the transaction, the chief financial officer now owns 90,541 shares in the company, valued at $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.70% of the stock is currently owned by insiders.

About Timken

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.