Swiss National Bank trimmed its holdings in shares of The Timken Company (NYSE:TKR - Free Report) by 12.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,000 shares of the industrial products company's stock after selling 17,200 shares during the quarter. Swiss National Bank owned 0.18% of Timken worth $10,099,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. American Century Companies Inc. boosted its position in Timken by 7.7% in the 3rd quarter. American Century Companies Inc. now owns 1,826,547 shares of the industrial products company's stock valued at $134,233,000 after buying an additional 131,253 shares during the period. AQR Capital Management LLC increased its stake in shares of Timken by 16.8% during the third quarter. AQR Capital Management LLC now owns 764,174 shares of the industrial products company's stock valued at $56,159,000 after buying an additional 109,767 shares during the period. Invesco Ltd. lifted its stake in Timken by 31.9% in the third quarter. Invesco Ltd. now owns 680,571 shares of the industrial products company's stock worth $50,015,000 after acquiring an additional 164,421 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Timken by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 614,535 shares of the industrial products company's stock worth $45,162,000 after acquiring an additional 15,374 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Timken by 2.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 562,907 shares of the industrial products company's stock valued at $41,368,000 after purchasing an additional 14,270 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.
Timken Stock Performance
Shares of Timken stock traded down $0.38 during midday trading on Monday, hitting $91.35. The company had a trading volume of 285,533 shares, compared to its average volume of 501,375. The company has a fifty day simple moving average of $86.94 and a 200 day simple moving average of $80.96. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.23 and a beta of 1.51. The company has a quick ratio of 1.02, a current ratio of 1.87 and a debt-to-equity ratio of 0.66. The Timken Company has a 12-month low of $65.71 and a 12-month high of $95.08.
Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.27. Timken had a net margin of 7.99% and a return on equity of 17.98%. The business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same quarter last year, the company posted $2.09 earnings per share. The business's quarterly revenue was down 5.7% on a year-over-year basis. As a group, analysts predict that The Timken Company will post 6.21 earnings per share for the current fiscal year.
Timken Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.49%. The ex-dividend date is Monday, May 13th. This is an increase from Timken's previous quarterly dividend of $0.33. Timken's dividend payout ratio is 25.14%.
Insiders Place Their Bets
In other news, CFO Philip D. Fracassa sold 10,000 shares of the company's stock in a transaction on Monday, May 6th. The shares were sold at an average price of $89.76, for a total value of $897,600.00. Following the sale, the chief financial officer now directly owns 105,541 shares of the company's stock, valued at approximately $9,473,360.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Philip D. Fracassa sold 10,000 shares of Timken stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $89.76, for a total transaction of $897,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,541 shares in the company, valued at $9,473,360.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christopher A. Coughlin sold 29,006 shares of the business's stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the completion of the transaction, the executive vice president now owns 84,995 shares of the company's stock, valued at $7,590,053.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,006 shares of company stock valued at $5,269,636. 8.70% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on TKR shares. Evercore ISI downgraded shares of Timken from an "outperform" rating to an "in-line" rating and set a $84.00 price objective on the stock. in a research note on Tuesday, February 20th. Loop Capital lifted their price target on Timken from $78.00 to $87.00 and gave the company a "hold" rating in a report on Wednesday, May 1st. The Goldman Sachs Group upped their price objective on Timken from $78.00 to $87.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 6th. KeyCorp lifted their target price on Timken from $91.00 to $95.00 and gave the company an "overweight" rating in a research note on Thursday, May 2nd. Finally, DA Davidson assumed coverage on shares of Timken in a report on Tuesday, January 23rd. They issued a "buy" rating and a $92.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Timken presently has an average rating of "Hold" and a consensus target price of $87.09.
Check Out Our Latest Research Report on TKR
About Timken
(
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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