New England Research & Management Inc. Sells 1,175 Shares of The Timken Company (NYSE:TKR)

New England Research & Management Inc. lowered its stake in The Timken Company (NYSE:TKR) by 9.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,025 shares of the industrial products company’s stock after selling 1,175 shares during the quarter. New England Research & Management Inc.’s holdings in Timken were worth $964,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Hennessy Advisors Inc. grew its position in shares of Timken by 43.8% during the first quarter. Hennessy Advisors Inc. now owns 51,900 shares of the industrial products company’s stock worth $4,538,000 after purchasing an additional 15,800 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Timken during the 1st quarter valued at approximately $1,989,000. CWM LLC grew its holdings in Timken by 45.7% during the 1st quarter. CWM LLC now owns 1,297 shares of the industrial products company’s stock valued at $113,000 after buying an additional 407 shares in the last quarter. Nomura Holdings Inc. purchased a new position in Timken during the 4th quarter valued at approximately $1,667,000. Finally, Livelsberger Financial Advisory purchased a new position in Timken during the 4th quarter valued at approximately $30,000. Institutional investors own 89.08% of the company’s stock.

Insider Buying and Selling at Timken

In other Timken news, EVP Christopher A. Coughlin sold 29,006 shares of Timken stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the completion of the sale, the executive vice president now directly owns 84,995 shares of the company’s stock, valued at approximately $7,590,053.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Philip D. Fracassa sold 10,000 shares of Timken stock in a transaction on Monday, May 6th. The stock was sold at an average price of $89.76, for a total value of $897,600.00. Following the transaction, the chief financial officer now directly owns 105,541 shares in the company, valued at approximately $9,473,360.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christopher A. Coughlin sold 29,006 shares of Timken stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total value of $2,590,235.80. Following the completion of the transaction, the executive vice president now owns 84,995 shares in the company, valued at $7,590,053.50. The disclosure for this sale can be found here. Insiders sold a total of 59,006 shares of company stock valued at $5,269,636 in the last ninety days. Corporate insiders own 8.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Stifel Nicolaus raised their price target on Timken from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. KeyCorp lifted their target price on Timken from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Oppenheimer reiterated an “outperform” rating and issued a $100.00 target price (up previously from $97.00) on shares of Timken in a report on Thursday, March 21st. Loop Capital lifted their target price on Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Finally, Raymond James initiated coverage on Timken in a report on Friday. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $87.91.

Timken Price Performance

Shares of TKR stock opened at $80.13 on Friday. The Timken Company has a 52-week low of $65.71 and a 52-week high of $95.08. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.02 and a current ratio of 1.87. The firm has a market capitalization of $5.64 billion, a P/E ratio of 15.26, a P/E/G ratio of 1.70 and a beta of 1.50. The stock has a 50 day moving average price of $86.20 and a 200 day moving average price of $83.84.

Timken (NYSE:TKR) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.27. Timken had a return on equity of 17.98% and a net margin of 7.99%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company earned $2.09 EPS. Timken’s quarterly revenue was down 5.7% compared to the same quarter last year. As a group, sell-side analysts predict that The Timken Company will post 6.2 earnings per share for the current year.

Timken Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, May 13th. This is a positive change from Timken’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a yield of 1.70%. Timken’s payout ratio is 25.90%.

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.