The Timken Company (NYSE:TKR) Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. lessened its position in shares of The Timken Company (NYSE:TKR) by 27.4% in the 4th quarter, HoldingsChannel reports. The fund owned 6,175 shares of the industrial products company’s stock after selling 2,325 shares during the period. New England Research & Management Inc.’s holdings in Timken were worth $441,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its holdings in shares of Timken by 2.6% in the 4th quarter. Pacer Advisors Inc. now owns 9,507 shares of the industrial products company’s stock valued at $679,000 after buying an additional 237 shares in the last quarter. KBC Group NV raised its position in Timken by 83.6% in the 4th quarter. KBC Group NV now owns 3,114 shares of the industrial products company’s stock valued at $222,000 after purchasing an additional 1,418 shares during the last quarter. Blue Trust Inc. raised its position in Timken by 107.5% in the 4th quarter. Blue Trust Inc. now owns 2,069 shares of the industrial products company’s stock valued at $148,000 after purchasing an additional 1,072 shares during the last quarter. Olstein Capital Management L.P. raised its position in Timken by 17.2% in the 4th quarter. Olstein Capital Management L.P. now owns 17,000 shares of the industrial products company’s stock valued at $1,213,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC raised its position in Timken by 1.2% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 21,167 shares of the industrial products company’s stock valued at $1,511,000 after purchasing an additional 253 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

TKR has been the subject of several research reports. DA Davidson reduced their price target on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. KeyCorp reiterated a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Oppenheimer reduced their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Citigroup cut their price objective on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and upped their price objective for the stock from $80.00 to $95.00 in a research report on Friday, December 6th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $92.40.

Insider Activity at Timken

In related news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. This represents a 13.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.70% of the stock is owned by corporate insiders.

Timken Stock Performance

Shares of TKR opened at $77.20 on Thursday. The company has a 50-day simple moving average of $74.97 and a 200-day simple moving average of $79.61. 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 company has a market capitalization of $5.41 billion, a PE ratio of 16.05, a P/E/G ratio of 0.99 and a beta of 1.39. The Timken Company has a 52-week low of $69.35 and a 52-week high of $94.71.

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 company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.55 EPS. Equities research analysts predict that The Timken Company will post 5.61 earnings per share for the current fiscal year.

Timken Dividend Announcement

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

About Timken

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.