First Trust Advisors LP Raises Stock Holdings in The Timken Company (NYSE:TKR)

First Trust Advisors LP raised its position in shares of The Timken Company (NYSE:TKRFree Report) by 28.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 306,559 shares of the industrial products company’s stock after purchasing an additional 68,507 shares during the quarter. First Trust Advisors LP’s holdings in Timken were worth $24,571,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC acquired a new position in Timken in the 4th quarter worth approximately $35,000. Anchor Investment Management LLC purchased a new stake in shares of Timken in the 4th quarter valued at $58,000. Ramirez Asset Management Inc. acquired a new stake in shares of Timken in the third quarter worth $81,000. Quent Capital LLC raised its holdings in shares of Timken by 50.4% during the fourth quarter. Quent Capital LLC now owns 1,018 shares of the industrial products company’s stock worth $82,000 after purchasing an additional 341 shares during the last quarter. Finally, Johnson Financial Group Inc. lifted its position in Timken by 145.4% during the fourth quarter. Johnson Financial Group Inc. now owns 1,264 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 749 shares during the period. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TKR. Stifel Nicolaus lifted their price objective on Timken from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Loop Capital lifted their price target on Timken from $78.00 to $87.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. KeyCorp upped their price objective on Timken from $95.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $100.00 target price (up from $97.00) on shares of Timken in a report on Thursday, March 21st. Finally, Evercore ISI downgraded shares of Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price target on the stock. in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $87.91.

View Our Latest Stock Report on Timken

Timken Trading Up 0.0 %

TKR stock opened at $83.59 on Tuesday. The Timken Company has a 12-month low of $65.71 and a 12-month high of $95.08. The business’s 50-day moving average is $87.51 and its 200 day moving average is $83.12. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 0.66. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 1.77 and a beta of 1.50.

Timken (NYSE:TKRGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.50 by $0.27. Timken had a return on equity of 17.98% and a net margin of 7.99%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the company earned $2.09 EPS. The firm’s revenue was down 5.7% compared to the same quarter last year. On average, sell-side analysts anticipate that The Timken Company will post 6.19 EPS for the current fiscal year.

Timken Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.63%. This is a positive change from Timken’s previous quarterly dividend of $0.33. The ex-dividend date was Monday, May 13th. Timken’s dividend payout ratio (DPR) is 25.90%.

Insider Transactions at Timken

In related news, CEO Richard G. Kyle sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total value of $1,781,800.00. Following the completion of the sale, the chief executive officer now owns 366,799 shares of the company’s stock, valued at $32,678,122.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Philip D. Fracassa sold 10,000 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $89.76, for a total transaction of $897,600.00. Following the transaction, the chief financial officer now owns 105,541 shares of the company’s stock, valued at approximately $9,473,360.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Richard G. Kyle sold 20,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the sale, the chief executive officer now owns 366,799 shares of the company’s stock, valued at $32,678,122.91. The disclosure for this sale can be found here. Insiders have sold a total of 59,006 shares of company stock worth $5,269,636 in the last ninety days. Insiders own 8.70% of the company’s stock.

Timken Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Timken (NYSE:TKR)

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