The Timken Company (NYSE:TKR) Shares Sold by Comerica Bank

Comerica Bank lessened its holdings in shares of The Timken Company (NYSE:TKRGet Rating) by 8.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,120 shares of the industrial products company’s stock after selling 5,425 shares during the period. Comerica Bank owned 0.08% of Timken worth $3,844,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Inspire Investing LLC increased its position in Timken by 4.1% during the second quarter. Inspire Investing LLC now owns 3,999 shares of the industrial products company’s stock worth $212,000 after buying an additional 158 shares during the period. Ronald Blue Trust Inc. increased its position in Timken by 28.8% during the third quarter. Ronald Blue Trust Inc. now owns 818 shares of the industrial products company’s stock worth $43,000 after buying an additional 183 shares during the period. Sequoia Financial Advisors LLC increased its position in Timken by 5.3% during the first quarter. Sequoia Financial Advisors LLC now owns 3,785 shares of the industrial products company’s stock worth $230,000 after buying an additional 189 shares during the period. Quadrant Capital Group LLC increased its position in Timken by 40.2% during the second quarter. Quadrant Capital Group LLC now owns 854 shares of the industrial products company’s stock worth $45,000 after buying an additional 245 shares during the period. Finally, Captrust Financial Advisors increased its position in Timken by 2.1% during the first quarter. Captrust Financial Advisors now owns 12,584 shares of the industrial products company’s stock worth $764,000 after buying an additional 257 shares during the period. Institutional investors and hedge funds own 82.00% of the company’s stock.

Insider Buying and Selling

In related news, CEO Richard G. Kyle sold 15,873 shares of Timken stock in a transaction on Monday, October 31st. The stock was sold at an average price of $70.29, for a total transaction of $1,115,713.17. Following the completion of the transaction, the chief executive officer now directly owns 339,843 shares of the company’s stock, valued at $23,887,564.47. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Christopher A. Coughlin sold 15,000 shares of the business’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $69.29, for a total value of $1,039,350.00. Following the completion of the transaction, the executive vice president now directly owns 103,140 shares of the company’s stock, valued at $7,146,570.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard G. Kyle sold 15,873 shares of the business’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $70.29, for a total value of $1,115,713.17. Following the completion of the transaction, the chief executive officer now directly owns 339,843 shares of the company’s stock, valued at $23,887,564.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,244 shares of company stock valued at $4,853,869. 10.79% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Morgan Stanley lifted their price target on Timken from $70.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 14th. StockNews.com upgraded Timken from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 28th. Citigroup lifted their target price on Timken to $78.00 in a research note on Tuesday, November 1st. The Goldman Sachs Group lifted their target price on Timken from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, December 15th. Finally, Stifel Nicolaus lifted their target price on Timken from $81.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 19th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.44.

Timken Stock Up 3.6 %

Timken stock opened at $78.15 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.03 and a quick ratio of 1.09. The Timken Company has a 1-year low of $50.85 and a 1-year high of $78.22. The company has a market cap of $5.68 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 0.99 and a beta of 1.56. The stock’s 50 day moving average price is $72.24 and its 200 day moving average price is $66.22.

Timken (NYSE:TKRGet Rating) last posted its quarterly earnings results on Wednesday, October 26th. The industrial products company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.19. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Timken had a return on equity of 18.16% and a net margin of 8.44%. On average, sell-side analysts predict that The Timken Company will post 5.89 EPS for the current fiscal year.

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 2nd. Investors of record on Monday, November 21st were issued a dividend of $0.31 per share. The ex-dividend date was Friday, November 18th. This represents a $1.24 annualized dividend and a yield of 1.59%. Timken’s dividend payout ratio is presently 24.90%.

Timken Profile

(Get Rating)

The Timken Company designs, manufactures, and manages engineered bearings and power transmission products worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end-users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.

Further Reading

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Institutional Ownership by Quarter for Timken (NYSE:TKR)

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