Janney Montgomery Scott LLC Sells 148 Shares of The Timken Company (NYSE:TKR)

Janney Montgomery Scott LLC reduced its holdings in The Timken Company (NYSE:TKR – Get Rating) by 2.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,369 shares of the industrial products company’s stock after selling 148 shares during the period. Janney Montgomery Scott LLC’s holdings in Timken were worth $435,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Venture Visionary Partners LLC purchased a new position in shares of Timken in the 2nd quarter worth $35,000. Private Trust Co. NA purchased a new position in shares of Timken in the 2nd quarter worth $35,000. Ronald Blue Trust Inc. purchased a new position in shares of Timken in the 2nd quarter worth $39,000. Carolinas Wealth Consulting LLC grew its stake in shares of Timken by 4,865.7% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 19,118 shares of the industrial products company’s stock worth $39,000 after buying an additional 18,733 shares in the last quarter. Finally, Janiczek Wealth Management LLC grew its stake in shares of Timken by 222.9% in the 2nd quarter. Janiczek Wealth Management LLC now owns 678 shares of the industrial products company’s stock worth $44,000 after buying an additional 468 shares in the last quarter. 82.00% of the stock is owned by hedge funds and other institutional investors.

Timken Price Performance

Timken stock opened at $77.72 on Tuesday. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 0.96 and a beta of 1.56. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.03 and a quick ratio of 1.09. The Timken Company has a 1 year low of $50.85 and a 1 year high of $78.97. The firm has a 50-day moving average of $72.74 and a two-hundred day moving average of $67.30.

Timken (NYSE:TKR – Get Rating) last posted its quarterly earnings results on Wednesday, October 26th. The industrial products company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.33 by $0.19. Timken had a net margin of 8.44% and a return on equity of 18.16%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. On average, research analysts forecast that The Timken Company will post 5.89 earnings per share for the current year.

Timken Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 2nd. Stockholders of record on Monday, November 21st were issued a $0.31 dividend. The ex-dividend date was Friday, November 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.60%. Timken’s dividend payout ratio is currently 24.90%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Timken from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, December 15th. Morgan Stanley lifted their price target on shares of Timken from $70.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 14th. Citigroup lifted their price target on shares of Timken to $78.00 in a research note on Tuesday, November 1st. Oppenheimer lifted their price target on shares of Timken from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, StockNews.com raised shares of Timken from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 28th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Timken presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.33.

Insider Activity

In other news, CEO Richard G. Kyle sold 15,873 shares of the business’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $70.29, for a total value of $1,115,713.17. Following the completion of the sale, the chief executive officer now owns 339,843 shares in the company, valued at approximately $23,887,564.47. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Christopher A. Coughlin sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $69.29, for a total transaction of $1,039,350.00. Following the completion of the transaction, the executive vice president now owns 103,140 shares in the company, valued at approximately $7,146,570.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard G. Kyle sold 15,873 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $70.29, for a total transaction of $1,115,713.17. Following the transaction, the chief executive officer now owns 339,843 shares of the company’s stock, valued at approximately $23,887,564.47. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,244 shares of company stock worth $4,853,869. 10.79% of the stock is currently owned by corporate insiders.

Timken Company Profile

(Get Rating)

The Timken Co engages in the engineering, manufacturing, and marketing of bearings and industrial motion products. In addition to bearings, it offers drives, belts, chains, lubrication systems, couplings, industrial clutches, and brakes. It operates through the Mobile and Process Industries segments.