Bank of America Corp DE Has $25.20 Million Stock Holdings in The Timken Company (NYSE:TKR)

Bank of America Corp DE decreased its position in The Timken Company (NYSE:TKR) by 23.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 353,021 shares of the industrial products company’s stock after selling 106,002 shares during the period. Bank of America Corp DE owned about 0.50% of Timken worth $25,195,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new position in shares of Timken in the fourth quarter valued at $29,000. Amundi increased its holdings in Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after buying an additional 174 shares during the period. Parvin Asset Management LLC acquired a new position in shares of Timken in the 4th quarter valued at $66,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Timken during the 4th quarter worth about $109,000. Finally, AlphaQuest LLC boosted its position in shares of Timken by 25,983.3% during the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock valued at $112,000 after acquiring an additional 1,559 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on TKR shares. Evercore ISI raised their price target 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. Loop Capital dropped their target price on Timken from $85.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, April 17th. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Citigroup increased their price objective on Timken from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group reduced their target price on shares of Timken from $85.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $80.20.

Timken Price Performance

Shares of TKR stock opened at $73.85 on Monday. The Timken Company has a 52 week low of $56.20 and a 52 week high of $92.34. The stock has a market capitalization of $5.17 billion, a PE ratio of 14.80, a PEG ratio of 1.51 and a beta of 1.30. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The stock’s fifty day moving average is $67.49 and its 200-day moving average is $73.52.

Timken (NYSE:TKR) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.03). The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Timken had a return on equity of 13.93% and a net margin of 7.71%. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.77 EPS. Equities research analysts expect that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Tuesday, May 13th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.90%. This is a positive change from Timken’s previous quarterly dividend of $0.34. The ex-dividend date is Tuesday, May 13th. Timken’s dividend payout ratio (DPR) is presently 30.17%.

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.