Cobblestone Capital Advisors LLC NY Has $215,000 Holdings in The Timken Company (NYSE:TKR)

Cobblestone Capital Advisors LLC NY cut its holdings in shares of The Timken Company (NYSE:TKR) by 4.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,016 shares of the industrial products company’s stock after selling 145 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Timken were worth $215,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of TKR. QRG Capital Management Inc. raised its stake in Timken by 5.1% during the 4th quarter. QRG Capital Management Inc. now owns 54,399 shares of the industrial products company’s stock valued at $3,882,000 after purchasing an additional 2,664 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Timken during the fourth quarter valued at about $3,101,000. Phocas Financial Corp. acquired a new position in shares of Timken during the fourth quarter valued at about $550,000. Bank of New York Mellon Corp raised its position in shares of Timken by 7.6% during the fourth quarter. Bank of New York Mellon Corp now owns 717,278 shares of the industrial products company’s stock valued at $51,192,000 after buying an additional 50,519 shares during the last quarter. Finally, Skylands Capital LLC acquired a new position in Timken in the 4th quarter valued at approximately $2,184,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Timken

In related news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction dated 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 transaction, the chief financial officer now directly owns 90,541 shares of the company’s stock, valued at $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 8.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on TKR shares. DA Davidson cut their price target on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Jefferies Financial Group upgraded Timken from a “hold” rating to a “buy” rating and upped their target price for the company from $80.00 to $95.00 in a research note on Friday, December 6th. Morgan Stanley increased their price objective on shares of Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. KeyCorp restated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Finally, Oppenheimer cut their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.70.

Timken Trading Up 2.2 %

Shares of TKR stock opened at $81.06 on Friday. The Timken Company has a 12-month low of $69.35 and a 12-month high of $94.71. The company has a market capitalization of $5.67 billion, a P/E ratio of 16.25, a P/E/G ratio of 1.51 and a beta of 1.39. The firm has a 50-day moving average price of $77.33 and a 200 day moving average price of $79.29. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69.

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

Timken Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th will be given a $0.34 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $1.36 annualized dividend and a yield of 1.68%. Timken’s payout ratio is 27.25%.

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.