Fifth Third Bancorp Sells 325 Shares of The Timken Company (NYSE:TKR)

Fifth Third Bancorp trimmed its holdings in shares of The Timken Company (NYSE:TKRFree Report) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,372 shares of the industrial products company’s stock after selling 325 shares during the period. Fifth Third Bancorp’s holdings in Timken were worth $883,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TKR. Hotchkis & Wiley Capital Management LLC grew its stake in Timken by 34.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock valued at $143,376,000 after purchasing an additional 434,800 shares in the last quarter. Verition Fund Management LLC grew its stake in shares of Timken by 3,179.1% in the third quarter. Verition Fund Management LLC now owns 193,858 shares of the industrial products company’s stock valued at $16,340,000 after buying an additional 187,946 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Timken by 4.2% during 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 buying an additional 107,350 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Timken during the second quarter worth $6,897,000. Finally, Royce & Associates LP lifted its stake in Timken by 73.2% in the third quarter. Royce & Associates LP now owns 190,456 shares of the industrial products company’s stock valued at $16,054,000 after acquiring an additional 80,513 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and raised their target price for the company from $80.00 to $95.00 in a research note on Friday, December 6th. KeyCorp reiterated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Morgan Stanley upgraded Timken from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $82.00 to $93.00 in a research note on Tuesday, December 17th. Citigroup reduced their price objective on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Evercore ISI raised shares of Timken from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $87.00 to $91.00 in a research report on Wednesday, November 13th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Timken currently has an average rating of “Moderate Buy” and a consensus target price of $92.40.

View Our Latest Stock Report on TKR

Timken Trading Up 0.8 %

Shares of TKR stock opened at $77.20 on Thursday. The stock has a market cap of $5.41 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 0.99 and a beta of 1.39. 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 stock has a 50 day simple moving average of $74.97 and a 200 day simple moving average of $79.61. The Timken Company has a 1 year low of $69.35 and a 1 year high of $94.71.

Timken (NYSE:TKRGet Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Timken had a return on equity of 14.82% and a net margin of 7.41%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the company posted $1.55 EPS. The business’s revenue was down 1.4% on a year-over-year basis. On average, research analysts predict that The Timken Company will post 5.61 earnings per share for the current fiscal year.

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Tuesday, November 19th. Timken’s dividend payout ratio is presently 28.27%.

Insiders Place Their Bets

In related news, Director Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the completion of the transaction, the director now directly owns 194,485 shares in the company, valued at $14,895,606.15. This represents a 13.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.70% of the company’s stock.

Timken Company 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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