The Timken Company (NYSE:TKR) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of The Timken Company (NYSE:TKR) by 4.3% in the fourth quarter, Holdings Channel reports. The firm owned 53,264 shares of the industrial products company’s stock after selling 2,379 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Timken were worth $4,269,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in Timken in the 4th quarter valued at about $34,000. Money Concepts Capital Corp acquired a new position in Timken in the 4th quarter valued at about $35,000. Sunbelt Securities Inc. acquired a new position in Timken in the 2nd quarter valued at about $36,000. Acadian Asset Management LLC acquired a new position in Timken in the 1st quarter valued at about $36,000. Finally, IFP Advisors Inc grew its position in Timken by 96.3% in the 2nd quarter. IFP Advisors Inc now owns 430 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 211 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Timken Price Performance

TKR stock opened at $85.50 on Monday. The business has a 50 day moving average price of $84.93 and a 200 day moving average price of $79.04. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 1.18 and a beta of 1.54. The Timken Company has a fifty-two week low of $65.71 and a fifty-two week high of $95.08. The company has a quick ratio of 0.96, a current ratio of 1.79 and a debt-to-equity ratio of 0.66.

Timken (NYSE:TKR) last announced its quarterly earnings data on Monday, February 5th. The industrial products company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.15. Timken had a return on equity of 19.57% and a net margin of 8.26%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the company posted $1.22 earnings per share. Timken’s quarterly revenue was up .9% on a year-over-year basis. Equities research analysts anticipate that The Timken Company will post 6.02 earnings per share for the current fiscal year.

Timken Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Tuesday, February 20th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Friday, February 16th. Timken’s dividend payout ratio is presently 24.18%.

Analysts Set New Price Targets

TKR has been the subject of several research reports. Morgan Stanley initiated coverage on Timken in a research report on Monday, January 8th. They issued an “equal weight” rating and a $74.00 target price for the company. DA Davidson began coverage on Timken in a research report on Tuesday, January 23rd. They set a “buy” rating and a $92.00 price objective for the company. Oppenheimer reissued an “outperform” rating and set a $100.00 price objective (up from $97.00) on shares of Timken in a research report on Thursday, March 21st. StockNews.com downgraded Timken from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Finally, The Goldman Sachs Group boosted their price objective on Timken from $78.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $85.90.

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.