The Timken Company (NYSE:TKR) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC lowered its stake in The Timken Company (NYSE:TKR) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,126 shares of the industrial products company’s stock after selling 239 shares during the quarter. Pathstone Holdings LLC’s holdings in Timken were worth $1,359,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thrivent Financial for Lutherans lifted its stake in shares of Timken by 4.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock worth $225,880,000 after acquiring an additional 107,350 shares during the period. Natixis Advisors LLC raised its holdings in Timken by 7.6% during the third quarter. Natixis Advisors LLC now owns 31,637 shares of the industrial products company’s stock worth $2,667,000 after purchasing an additional 2,235 shares in the last quarter. Coastline Trust Co acquired a new stake in Timken in the third quarter worth approximately $29,000. Connable Office Inc. boosted its stake in Timken by 33.9% during the 3rd quarter. Connable Office Inc. now owns 5,868 shares of the industrial products company’s stock valued at $495,000 after purchasing an additional 1,487 shares in the last quarter. Finally, Royce & Associates LP increased its position in shares of Timken by 73.2% during the 3rd quarter. Royce & Associates LP now owns 190,456 shares of the industrial products company’s stock valued at $16,054,000 after purchasing an additional 80,513 shares during the period. Institutional investors own 89.08% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TKR. DA Davidson decreased their target price on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. KeyCorp restated a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Oppenheimer dropped their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Citigroup started coverage on shares of Timken in a report on Monday, October 14th. They set a “neutral” rating and a $90.00 target price for the company. Finally, Evercore ISI raised Timken from an “in-line” rating to an “outperform” rating and upped their price target for the company from $87.00 to $91.00 in a report on Wednesday, November 13th. Eight equities research analysts have rated the stock with 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 $90.00.

Timken Price Performance

TKR opened at $76.80 on Friday. The Timken Company has a 12-month low of $71.57 and a 12-month high of $94.71. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $5.38 billion, a P/E ratio of 15.97, a PEG ratio of 1.15 and a beta of 1.43. The stock has a fifty day moving average of $81.20 and a 200-day moving average of $82.56.

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 analysts’ consensus estimates of $1.38 by ($0.15). The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.55 earnings per share. Equities analysts forecast that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.36 annualized dividend and a dividend yield of 1.77%. Timken’s dividend payout ratio is 28.27%.

Insider Activity at Timken

In other Timken 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 value of $2,297,700.00. Following the completion of the sale, the director now directly owns 194,485 shares in the company, valued at $14,895,606.15. The trade was a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.70% of the company’s stock.

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.