Fifth Third Bancorp Sells 325 Shares of The Timken Company (NYSE:TKR)

Fifth Third Bancorp reduced its holdings in shares of The Timken Company (NYSE:TKR) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,372 shares of the industrial products company’s stock after selling 325 shares during the period. Fifth Third Bancorp’s holdings in Timken were worth $883,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Coastline Trust Co bought a new stake in shares of Timken in the 3rd quarter worth about $29,000. Livelsberger Financial Advisory acquired a new stake in Timken during the 3rd quarter valued at $32,000. UMB Bank n.a. raised its position in Timken by 64.1% in 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. acquired a new position in Timken in the second quarter worth $44,000. Finally, Brooklyn Investment Group bought a new stake in shares of Timken during the third quarter worth $74,000. Institutional investors own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

TKR has been the topic of several research reports. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $87.00 to $91.00 in a research report on Wednesday, November 13th. Morgan Stanley raised shares of Timken from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $82.00 to $93.00 in a research note on Tuesday, December 17th. DA Davidson reduced their price objective on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Citigroup lowered their target price on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Oppenheimer cut their price target on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $92.40.

Timken Trading Up 0.8 %

TKR opened at $77.20 on Thursday. The firm’s fifty day moving average is $74.97 and its two-hundred day moving average is $79.61. The firm has a market cap of $5.41 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 0.99 and a beta of 1.39. The Timken Company has a twelve month low of $69.35 and a twelve month high of $94.71. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00.

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

Timken Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Tuesday, November 19th. Timken’s payout ratio is currently 28.27%.

Insider Activity

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction dated Friday, November 8th. The stock was 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 owns 194,485 shares in the company, valued at approximately $14,895,606.15. This represents a 13.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.70% of the company’s stock.

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.