Horizon Investments LLC Takes Position in Timken Company (The) $TKR

Horizon Investments LLC bought a new stake in Timken Company (The) (NYSE:TKR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 19,488 shares of the industrial products company's stock, valued at approximately $1,640,000.

Several other institutional investors have also modified their holdings of the stock. UBS Group AG grew its position in shares of Timken by 734.7% in the third quarter. UBS Group AG now owns 2,286,250 shares of the industrial products company's stock valued at $171,880,000 after purchasing an additional 2,012,352 shares during the period. Bank of New York Mellon Corp boosted its position in Timken by 34.8% during the third quarter. Bank of New York Mellon Corp now owns 1,493,167 shares of the industrial products company's stock worth $112,256,000 after acquiring an additional 385,389 shares during the last quarter. Cooke & Bieler LP boosted its position in Timken by 28.6% during the third quarter. Cooke & Bieler LP now owns 1,423,361 shares of the industrial products company's stock worth $107,008,000 after acquiring an additional 316,380 shares during the last quarter. Invesco Ltd. boosted its position in Timken by 124.5% during the third quarter. Invesco Ltd. now owns 1,358,154 shares of the industrial products company's stock worth $102,106,000 after acquiring an additional 753,275 shares during the last quarter. Finally, Keybank National Association OH boosted its position in Timken by 17.8% during the fourth quarter. Keybank National Association OH now owns 857,235 shares of the industrial products company's stock worth $72,119,000 after acquiring an additional 129,458 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Oppenheimer boosted their price target on shares of Timken from $108.00 to $117.00 and gave the stock an "outperform" rating in a research report on Monday, April 20th. Weiss Ratings restated a "hold (c+)" rating on shares of Timken in a research report on Monday, April 20th. JPMorgan Chase & Co. restated an "underweight" rating and set a $100.00 price target on shares of Timken in a research report on Thursday, March 26th. Wall Street Zen upgraded shares of Timken from a "hold" rating to a "buy" rating in a research report on Sunday, March 1st. Finally, DA Davidson boosted their price target on shares of Timken from $86.00 to $108.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 10th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $105.86.

Insiders Place Their Bets

In other news, Director Richard G. Kyle sold 19,636 shares of the business's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $107.99, for a total value of $2,120,491.64. Following the sale, the director directly owned 243,636 shares of the company's stock, valued at approximately $26,310,251.64. The trade was a 7.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.10% of the stock is owned by insiders.

Timken Stock Performance

NYSE:TKR opened at $109.54 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.82 and a quick ratio of 1.47. The firm has a market capitalization of $7.64 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 1.56 and a beta of 1.18. The company's 50-day moving average is $103.66 and its two-hundred day moving average is $93.04. Timken Company has a 1-year low of $65.49 and a 1-year high of $111.64.

Timken (NYSE:TKR - Get Free Report) last posted its earnings results on Wednesday, February 4th. The industrial products company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.05. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. Timken had a net margin of 6.29% and a return on equity of 11.52%. Timken's revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 EPS. Analysts forecast that Timken Company will post 5.9 EPS for the current year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Tuesday, February 24th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.3%. The ex-dividend date was Tuesday, February 24th. Timken's payout ratio is presently 34.06%.

Timken Company Profile

The Timken Company is a global manufacturer specializing in engineered bearings and mechanical power transmission products. Its core offerings include tapered and cylindrical roller bearings, spherical and plain bearings, mounted bearing units, and precision gear drives. Timken's products serve a broad range of industries, from industrial machinery and aerospace to automotive, rail, wind energy and heavy equipment.

Beyond bearings, Timken's portfolio extends to industrial chains, belts, couplings and related components designed to optimize power transmission systems.

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