Kovitz Investment Group Partners LLC Trims Stake in The Timken Company (NYSE:TKR)

Kovitz Investment Group Partners LLC lowered its stake in shares of The Timken Company (NYSE:TKR - Free Report) by 40.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 14,386 shares of the industrial products company's stock after selling 9,957 shares during the period. Kovitz Investment Group Partners LLC's holdings in Timken were worth $1,027,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fairway Wealth LLC purchased a new position in shares of Timken during the fourth quarter valued at approximately $29,000. Amundi boosted its holdings in Timken by 25.8% during the 4th quarter. Amundi now owns 848 shares of the industrial products company's stock worth $61,000 after acquiring an additional 174 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Timken during the 4th quarter worth $109,000. AlphaQuest LLC grew its stake in shares of Timken by 25,983.3% in the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company's stock worth $112,000 after acquiring an additional 1,559 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Timken by 88.3% in the fourth 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 last quarter. 89.08% of the stock is owned by institutional investors.

Insider Buying and Selling at Timken

In other news, CFO Philip D. Fracassa sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the completion of the transaction, the chief financial officer now directly owns 90,541 shares in the company, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.70% of the company's stock.

Timken Stock Performance

NYSE:TKR traded up $0.60 on Monday, reaching $67.15. 109,439 shares of the company's stock were exchanged, compared to its average volume of 554,297. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 1.51 and a beta of 1.30. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The stock has a fifty day simple moving average of $68.90 and a 200-day simple moving average of $74.55. The Timken Company has a 52 week low of $56.20 and a 52 week high of $93.66.

Timken (NYSE:TKR - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share for the quarter, missing analysts' consensus estimates of $1.43 by ($0.03). The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.13 billion. Timken had a net margin of 7.71% and a return on equity of 13.93%. The firm's quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.77 earnings per share. As a group, sell-side analysts predict that The Timken Company will post 5.62 earnings per share for the current year.

Timken Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Tuesday, May 13th will be issued a dividend of $0.35 per share. This is a boost from Timken's previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a yield of 2.08%. Timken's dividend payout ratio is 30.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TKR shares. Bank of America raised shares of Timken from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $73.00 to $78.00 in a research report on Tuesday, February 4th. DA Davidson reaffirmed a "neutral" rating and set a $66.00 price target (down from $97.00) on shares of Timken in a research report on Monday, April 21st. The Goldman Sachs Group dropped their price target on Timken from $85.00 to $75.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Jefferies Financial Group restated a "hold" rating and issued a $70.00 price objective (down previously from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Finally, Citigroup cut their price target on shares of Timken from $95.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $79.20.

Timken Company 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.