National Bank of Canada FI Acquires New Holdings in The Timken Company (NYSE:TKR)

National Bank of Canada FI bought a new position in The Timken Company (NYSE:TKR) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 4,700 shares of the industrial products company’s stock, valued at approximately $335,000.

Several other hedge funds have also modified their holdings of the company. Pictet Asset Management Holding SA lifted its position in Timken by 15.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 10,292 shares of the industrial products company’s stock valued at $735,000 after acquiring an additional 1,354 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Timken during the fourth quarter worth $420,000. Norges Bank purchased a new stake in shares of Timken during the 4th quarter valued at $42,748,000. NEOS Investment Management LLC boosted its position in shares of Timken by 178.6% in the 4th quarter. NEOS Investment Management LLC now owns 87,105 shares of the industrial products company’s stock worth $6,217,000 after purchasing an additional 55,843 shares in the last quarter. Finally, Angeles Investment Advisors LLC purchased a new position in Timken during the 4th quarter worth $249,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on TKR. The Goldman Sachs Group decreased their price target on Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $73.00 to $78.00 in a research note on Tuesday, February 4th. Jefferies Financial Group restated a “hold” rating and set a $70.00 price target (down previously from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Evercore ISI lifted their price objective on shares of Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley upped their target price on Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Timken presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.45.

Insiders Place Their Bets

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 owns 90,541 shares in the company, valued at $7,379,091.50. The trade was a 5.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.70% of the company’s stock.

Timken Price Performance

Shares of TKR opened at $60.20 on Friday. The company has a market capitalization of $4.21 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.51 and a beta of 1.28. The business’s 50-day moving average is $74.92 and its two-hundred day moving average is $76.92. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $94.71.

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

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a yield of 2.26%. 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.