Swiss National Bank Has $11.02 Million Stake in The Timken Company (NYSE:TKR)

Swiss National Bank trimmed its holdings in shares of The Timken Company (NYSE:TKR) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,700 shares of the industrial products company’s stock after selling 400 shares during the period. Swiss National Bank owned 0.19% of Timken worth $11,017,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Interval Partners LP acquired a new stake in shares of Timken in the 1st quarter valued at approximately $22,907,000. American Century Companies Inc. increased its stake in Timken by 4.8% in the second quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock valued at $225,750,000 after purchasing an additional 128,791 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Timken by 4.2% in the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock worth $225,880,000 after purchasing an additional 107,350 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Timken by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock worth $168,667,000 after purchasing an additional 97,550 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Timken in the 2nd quarter valued at $6,897,000. 89.08% of the stock is owned by institutional investors.

Timken Stock Performance

Shares of TKR opened at $75.96 on Monday. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. The Timken Company has a 12 month low of $71.57 and a 12 month high of $94.71. The firm has a fifty day simple moving average of $81.45 and a 200 day simple moving average of $82.80. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.12 and a beta of 1.43.

Timken (NYSE:TKR) last released its 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 net margin of 7.41% and a return on equity of 14.82%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the firm posted $1.55 EPS. Timken’s revenue was down 1.4% compared to the same quarter last year. Research analysts forecast that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be paid a $0.34 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.36 annualized dividend and a dividend yield of 1.79%. Timken’s dividend payout ratio is presently 28.27%.

Insider Buying and Selling

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the transaction, the director now owns 194,485 shares of the company’s stock, valued at $14,895,606.15. The trade was 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 through this hyperlink. 8.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on TKR shares. Citigroup assumed coverage on Timken in a research note on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective on the stock. Oppenheimer dropped their price target on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. KeyCorp reiterated a “sector weight” rating on shares of Timken in a research report on Friday. 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. Finally, Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and upped their price target for the company from $87.00 to $91.00 in a report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Timken currently has a consensus rating of “Hold” and an average target price of $90.00.

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.