PNC Financial Services Group Inc. Has $714,000 Position in The Timken Company (NYSE:TKR)

PNC Financial Services Group Inc. reduced its stake in shares of The Timken Company (NYSE:TKR) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,011 shares of the industrial products company’s stock after selling 409 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Timken were worth $714,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in shares of Timken during the 3rd quarter worth about $74,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Timken during the 4th quarter worth about $109,000. First Horizon Advisors Inc. grew its position in shares of Timken by 16.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,823 shares of the industrial products company’s stock worth $154,000 after buying an additional 258 shares during the period. Blue Trust Inc. grew its position in shares of Timken by 88.3% in the 4th quarter. Blue Trust Inc. now owns 1,877 shares of the industrial products company’s stock valued at $134,000 after purchasing an additional 880 shares during the period. Finally, Millburn Ridgefield Corp acquired a new position in shares of Timken in the 3rd quarter valued at approximately $165,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Trading Down 0.8 %

Shares of Timken stock opened at $74.56 on Wednesday. The Timken Company has a 12-month low of $69.35 and a 12-month high of $94.71. The stock has a market cap of $5.22 billion, a P/E ratio of 14.94, a P/E/G ratio of 1.51 and a beta of 1.37. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $78.13 and its 200-day moving average is $78.57.

Timken (NYSE:TKR) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. Equities research analysts predict that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date was Tuesday, February 25th. Timken’s payout ratio is presently 27.25%.

Analyst Ratings Changes

Several brokerages recently issued reports on TKR. Jefferies Financial Group upgraded Timken from a “hold” rating to a “buy” rating and boosted their price objective for the company from $80.00 to $95.00 in a research report on Friday, December 6th. Evercore ISI boosted their price objective on Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. KeyCorp restated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Finally, Citigroup cut their target price on Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Timken currently has a consensus rating of “Moderate Buy” and an average target price of $92.70.

Insider Buying and Selling

In related news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $81.50, for a total transaction of $407,500.00. Following the transaction, the chief financial officer now directly owns 90,541 shares of the company’s stock, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.70% of the stock is owned by insiders.

Timken Profile

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.