SVB Wealth LLC Acquires New Shares in The Timken Company (NYSE:TKR)

SVB Wealth LLC acquired a new stake in The Timken Company (NYSE:TKR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,654 shares of the industrial products company’s stock, valued at approximately $293,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Timken in the fourth quarter valued at about $12,398,000. WCM Investment Management LLC raised its holdings in shares of Timken by 8.7% in the fourth quarter. WCM Investment Management LLC now owns 204,818 shares of the industrial products company’s stock valued at $16,443,000 after acquiring an additional 16,322 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Timken by 64.5% in the third quarter. Citigroup Inc. now owns 12,015 shares of the industrial products company’s stock valued at $883,000 after acquiring an additional 4,712 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Timken by 31.9% in the third quarter. Invesco Ltd. now owns 680,571 shares of the industrial products company’s stock valued at $50,015,000 after acquiring an additional 164,421 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new stake in shares of Timken in the fourth quarter valued at about $601,000. 89.08% of the stock is currently owned by institutional investors.

Timken Price Performance

Shares of NYSE TKR opened at $85.67 on Tuesday. The business’s 50 day moving average price is $84.97 and its 200 day moving average price is $79.14. The firm has a market cap of $6.03 billion, a P/E ratio of 15.69, a P/E/G ratio of 1.18 and a beta of 1.54. The Timken Company has a 52 week low of $65.71 and a 52 week high of $95.08. The company has a quick ratio of 0.96, a current ratio of 1.79 and a debt-to-equity ratio of 0.66.

Timken (NYSE:TKR) last issued its earnings results on Monday, February 5th. The industrial products company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.15. Timken had a return on equity of 19.57% and a net margin of 8.26%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the firm earned $1.22 earnings per share. Timken’s revenue for the quarter was up .9% on a year-over-year basis. On average, sell-side analysts expect that The Timken Company will post 6.02 earnings per share for the current year.

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Tuesday, February 20th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Friday, February 16th. Timken’s payout ratio is 24.18%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. The Goldman Sachs Group lifted their target price on Timken from $78.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. StockNews.com lowered Timken from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. DA Davidson began coverage on Timken in a research note on Tuesday, January 23rd. They issued a “buy” rating and a $92.00 target price on the stock. Evercore ISI lowered Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price target on the stock. in a research note on Tuesday, February 20th. Finally, Oppenheimer restated an “outperform” rating and set a $100.00 price target (up previously from $97.00) on shares of Timken in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Timken has an average rating of “Hold” and a consensus price target of $85.90.

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.