HighTower Advisors LLC Sells 1,001 Shares of The Timken Company (NYSE:TKR)

HighTower Advisors LLC cut its position in shares of The Timken Company (NYSE:TKR) by 4.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,309 shares of the industrial products company’s stock after selling 1,001 shares during the period. HighTower Advisors LLC’s holdings in Timken were worth $1,715,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Coastline Trust Co purchased a new stake in Timken during the third quarter valued at approximately $29,000. Livelsberger Financial Advisory bought a new position in shares of Timken during the 3rd quarter valued at approximately $32,000. UMB Bank n.a. increased its position in shares of Timken by 64.1% during the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 168 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Timken during the 2nd quarter valued at $44,000. Finally, Brooklyn Investment Group bought a new stake in Timken in the third quarter worth $74,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Insider Activity

In other news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the completion of the transaction, the director now directly owns 194,485 shares of the company’s stock, valued at $14,895,606.15. The trade was a 13.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.70% of the company’s stock.

Timken Stock Down 0.6 %

Shares of TKR stock opened at $75.50 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The Timken Company has a fifty-two week low of $72.35 and a fifty-two week high of $94.71. The firm has a market capitalization of $5.29 billion, a PE ratio of 15.70, a P/E/G ratio of 1.12 and a beta of 1.38. The stock’s 50-day simple moving average is $79.64 and its 200-day simple moving average is $81.45.

Timken (NYSE:TKR) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. The business’s revenue was down 1.4% on a year-over-year basis. Equities analysts expect that The Timken Company will post 5.61 earnings per share for the current year.

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.80%. Timken’s payout ratio is currently 28.27%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Evercore ISI raised shares of Timken from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $87.00 to $91.00 in a research note on Wednesday, November 13th. Citigroup upgraded Timken from a “neutral” rating to a “buy” rating and boosted their target price for the company from $85.00 to $90.00 in a research report on Monday, December 9th. Jefferies Financial Group upgraded Timken from a “hold” rating to a “buy” rating and increased their price target for the stock from $80.00 to $95.00 in a report on Friday, December 6th. KeyCorp restated a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Finally, Oppenheimer reduced their target price on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $91.00.

About Timken

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.