Symmetry Partners LLC Buys Shares of 3,097 The Timken Company (NYSE:TKR)

Symmetry Partners LLC bought a new stake in The Timken Company (NYSE:TKR – Get Rating) during the fourth quarter, Holdings Channel.com reports. The firm bought 3,097 shares of the industrial products company’s stock, valued at approximately $219,000.

A number of other hedge funds have also recently added to or reduced their stakes in TKR. BlackRock Inc. lifted its holdings in shares of Timken by 12.5% during the third quarter. BlackRock Inc. now owns 6,620,518 shares of the industrial products company’s stock worth $390,875,000 after purchasing an additional 736,067 shares during the period. Invesco Ltd. lifted its holdings in shares of Timken by 54.9% during the first quarter. Invesco Ltd. now owns 1,588,490 shares of the industrial products company’s stock worth $96,421,000 after purchasing an additional 562,930 shares during the period. First Trust Advisors LP lifted its holdings in shares of Timken by 71.5% during the first quarter. First Trust Advisors LP now owns 617,636 shares of the industrial products company’s stock worth $37,490,000 after purchasing an additional 257,536 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Timken by 33.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 703,221 shares of the industrial products company’s stock worth $37,306,000 after purchasing an additional 175,214 shares during the period. Finally, Balyasny Asset Management LLC lifted its holdings in shares of Timken by 40.1% during the third quarter. Balyasny Asset Management LLC now owns 583,913 shares of the industrial products company’s stock worth $34,474,000 after purchasing an additional 167,185 shares during the period. Institutional investors and hedge funds own 82.00% of the company’s stock.

Timken Trading Down 6.2 %

TKR opened at $73.99 on Friday. The Timken Company has a 1-year low of $50.85 and a 1-year high of $89.40. The company has a current ratio of 2.47, a quick ratio of 1.30 and a debt-to-equity ratio of 0.81. The company has a market cap of $5.36 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 0.96 and a beta of 1.54. The company has a fifty day moving average price of $82.26 and a two-hundred day moving average price of $73.13.

Timken (NYSE:TKR – Get Rating) last posted its quarterly earnings results on Monday, February 6th. The industrial products company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.13. Timken had a net margin of 9.06% and a return on equity of 19.52%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. Analysts predict that The Timken Company will post 6.86 EPS for the current fiscal year.

Timken Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 6th. Shareholders of record on Tuesday, February 21st were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Friday, February 17th. Timken’s dividend payout ratio (DPR) is currently 22.63%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TKR. Jefferies Financial Group lifted their price target on shares of Timken from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, March 6th. Bank of America upgraded shares of Timken from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $71.00 to $87.00 in a report on Friday, January 13th. KeyCorp lifted their target price on shares of Timken from $88.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 7th. StockNews.com initiated coverage on shares of Timken in a research note on Thursday. They set a “strong-buy” rating for the company. Finally, Morgan Stanley lifted their target price on shares of Timken from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 7th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $91.75.

Insider Buying and Selling at Timken

In other news, CEO Richard G. Kyle sold 24,841 shares of the business’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $85.97, for a total transaction of $2,135,580.77. Following the completion of the sale, the chief executive officer now directly owns 383,082 shares of the company’s stock, valued at $32,933,559.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 10.79% of the company’s stock.

Timken Profile

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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.