The Timken Company (NYSE:TKR) Shares Sold by Invesco Ltd.

Invesco Ltd. lessened its stake in The Timken Company (NYSE:TKR) by 53.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 183,197 shares of the industrial products company’s stock after selling 213,243 shares during the period. Invesco Ltd. owned about 0.26% of Timken worth $13,075,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Timken by 221.6% in the 3rd quarter. Barclays PLC now owns 86,667 shares of the industrial products company’s stock valued at $7,307,000 after purchasing an additional 59,716 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Timken by 29.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company’s stock worth $4,327,000 after buying an additional 13,697 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Timken during the 4th quarter worth about $14,460,000. Janney Montgomery Scott LLC raised its position in shares of Timken by 25.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 107,102 shares of the industrial products company’s stock worth $7,644,000 after acquiring an additional 22,003 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Timken during the fourth quarter worth approximately $574,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Trading Down 1.9 %

Shares of TKR stock opened at $60.27 on Tuesday. The Timken Company has a 1-year low of $56.20 and a 1-year high of $94.71. 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 business’s fifty day moving average price is $72.12 and its 200 day moving average price is $75.78. The firm has a market capitalization of $4.22 billion, a PE ratio of 12.08, a P/E/G ratio of 1.51 and a beta of 1.28.

Timken (NYSE:TKR) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. As a group, sell-side analysts forecast that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.34 per share. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a yield of 2.26%. Timken’s payout ratio is 27.25%.

Insider Buying and Selling at Timken

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $73.00 to $78.00 in a research report on Tuesday, February 4th. DA Davidson reissued a “neutral” rating and issued a $66.00 price objective (down from $97.00) on shares of Timken in a report on Monday. Citigroup cut their target price 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. Jefferies Financial Group reissued a “hold” rating and set a $70.00 price objective (down from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Finally, Evercore ISI increased their target price on shares of Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $81.91.

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.