Keybank National Association OH Sells 3,290 Shares of The Timken Company (NYSE:TKR)

Keybank National Association OH reduced its holdings in shares of The Timken Company (NYSE:TKR) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 351,242 shares of the industrial products company’s stock after selling 3,290 shares during the period. Keybank National Association OH owned 0.50% of Timken worth $25,068,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of TKR. Hotchkis & Wiley Capital Management LLC raised its stake in Timken by 34.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock valued at $143,376,000 after buying an additional 434,800 shares during the last quarter. Verition Fund Management LLC increased its holdings in shares of Timken by 3,179.1% during the third quarter. Verition Fund Management LLC now owns 193,858 shares of the industrial products company’s stock valued at $16,340,000 after acquiring an additional 187,946 shares in the last quarter. Thrivent Financial for Lutherans raised its position 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 purchasing an additional 107,350 shares during the last quarter. Royce & Associates LP boosted its stake in Timken by 73.2% in the 3rd quarter. Royce & Associates LP now owns 190,456 shares of the industrial products company’s stock worth $16,054,000 after purchasing an additional 80,513 shares in the last quarter. Finally, State Street Corp grew its position in Timken by 3.5% during the 3rd quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock valued at $164,689,000 after purchasing an additional 66,208 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

TKR has been the subject of several recent analyst reports. Evercore ISI lifted their target price on shares of Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. KeyCorp restated a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. DA Davidson lowered their price objective on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Oppenheimer reduced their target price on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, Bank of America raised Timken from an “underperform” rating to a “neutral” rating and upped their price target for the company from $73.00 to $78.00 in a report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $92.70.

Timken Price Performance

NYSE TKR opened at $74.68 on Wednesday. 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 Timken Company has a 1-year low of $69.35 and a 1-year high of $94.71. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 1.51 and a beta of 1.39. The business’s fifty day moving average price is $77.51 and its 200-day moving average price is $79.18.

Timken (NYSE:TKR) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. On average, equities analysts predict that The Timken Company will post 5.62 earnings per share for the current year.

Timken Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a yield of 1.82%. Timken’s dividend payout ratio is currently 27.25%.

Insiders Place Their Bets

In other news, CFO Philip D. Fracassa sold 5,000 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $81.50, for a total value of $407,500.00. Following the completion of the sale, the chief financial officer now directly owns 90,541 shares in the company, valued at $7,379,091.50. This represents a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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.