Fmr LLC Lowers Position in The Timken Company (NYSE:TKR)

Fmr LLC decreased its stake in shares of The Timken Company (NYSE:TKR) by 1.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,816,660 shares of the industrial products company’s stock after selling 59,857 shares during the period. Fmr LLC owned approximately 0.07% of Timken worth $405,996,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of TKR. American Century Companies Inc. boosted its holdings in Timken by 4.8% during the second quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock worth $225,750,000 after purchasing an additional 128,791 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in 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 valued at $225,880,000 after buying an additional 107,350 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Timken by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock worth $168,667,000 after buying an additional 97,550 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Timken in the 2nd quarter worth approximately $6,897,000. Finally, Royce & Associates LP grew its holdings in shares of Timken by 73.2% in the third quarter. Royce & Associates LP now owns 190,456 shares of the industrial products company’s stock valued at $16,054,000 after acquiring an additional 80,513 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Insider Transactions at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the business’s 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 of the company’s stock, valued at approximately $14,895,606.15. The trade was a 13.36 % 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. Insiders own 8.70% of the company’s stock.

Analyst Upgrades and Downgrades

TKR has been the topic of a number of recent analyst reports. DA Davidson cut 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. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $87.00 to $91.00 in a research note on Wednesday, November 13th. KeyCorp restated a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Oppenheimer lowered their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, Citigroup initiated coverage on shares of Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price on the stock. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Timken presently has a consensus rating of “Hold” and a consensus price target of $90.00.

Timken Stock Performance

NYSE:TKR opened at $77.45 on Friday. The Timken Company has a 52-week low of $72.14 and a 52-week high of $94.71. The business’s fifty day moving average is $81.06 and its 200 day moving average is $82.52. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 1.14 and a beta of 1.43.

Timken (NYSE:TKR) last announced its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.55 earnings per share. Research analysts predict that The Timken Company will post 5.61 EPS for the current year.

Timken Announces Dividend

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

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.