GHP Investment Advisors Inc. Raises Stock Holdings in The Timken Company (NYSE:TKR)

GHP Investment Advisors Inc. raised its position in shares of The Timken Company (NYSE:TKR) by 17.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,379 shares of the industrial products company’s stock after purchasing an additional 2,745 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Timken were worth $1,549,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Fidelis Capital Partners LLC purchased a new stake in Timken in the first quarter valued at approximately $26,000. Versant Capital Management Inc purchased a new stake in shares of Timken in the 2nd quarter valued at $30,000. EverSource Wealth Advisors LLC increased its stake in shares of Timken by 1,905.6% in the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 343 shares during the period. Livelsberger Financial Advisory purchased a new position in shares of Timken during the third quarter worth $32,000. Finally, UMB Bank n.a. lifted its position in Timken by 64.1% during the third 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 period. 89.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $80.76, for a total transaction of $2,422,800.00. Following the completion of the sale, the chief executive officer now directly owns 274,485 shares in the company, valued at approximately $22,167,408.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TKR. Evercore ISI cut their price target on Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Citigroup assumed coverage on Timken in a report on Monday, October 14th. They set a “neutral” rating and a $90.00 target price on the stock. Finally, DA Davidson reissued a “buy” rating and issued a $103.00 price target on shares of Timken in a report on Tuesday, September 17th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Timken presently has an average rating of “Hold” and a consensus price target of $91.70.

Timken Trading Down 0.1 %

Shares of TKR stock opened at $84.61 on Monday. The Timken Company has a 1-year low of $65.71 and a 1-year high of $94.71. The company has a market cap of $5.96 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.92 and a beta of 1.43. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.95 and a quick ratio of 1.64. The stock has a 50 day simple moving average of $82.92 and a 200-day simple moving average of $84.03.

Timken (NYSE:TKR) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.03. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. Timken had a net margin of 7.52% and a return on equity of 16.36%. The company’s revenue was down 7.1% compared to the same quarter last year. During the same period last year, the firm posted $2.01 earnings per share. On average, equities research analysts expect that The Timken Company will post 6.05 EPS for the current fiscal year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.34 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.61%. Timken’s payout ratio is currently 25.90%.

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.