The Timken Company (NYSE:TKR) Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC lowered its position in shares of The Timken Company (NYSE:TKR) by 9.8% in the fourth quarter, Holdings Channel reports. The firm owned 8,166 shares of the industrial products company’s stock after selling 888 shares during the period. Townsquare Capital LLC’s holdings in Timken were worth $583,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in Timken by 8.7% during the fourth quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company’s stock worth $141,000 after buying an additional 158 shares during the period. Amundi boosted its position in Timken by 25.8% during the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 174 shares during the period. Sheets Smith Wealth Management raised its position in Timken by 3.4% in the fourth quarter. Sheets Smith Wealth Management now owns 5,856 shares of the industrial products company’s stock valued at $418,000 after purchasing an additional 190 shares during the period. Principal Securities Inc. lifted its stake in shares of Timken by 7.8% during the fourth quarter. Principal Securities Inc. now owns 2,857 shares of the industrial products company’s stock worth $204,000 after purchasing an additional 207 shares in the last quarter. Finally, MML Investors Services LLC boosted its position in shares of Timken by 3.8% in the third quarter. MML Investors Services LLC now owns 5,790 shares of the industrial products company’s stock worth $488,000 after buying an additional 212 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

Insider Activity at Timken

In other news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the transaction, the chief financial officer now directly owns 90,541 shares in the company, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on TKR shares. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $73.00 to $78.00 in a research report on Tuesday, February 4th. The Goldman Sachs Group decreased their target price on shares of Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Evercore ISI boosted their price objective on shares of Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Citigroup lowered their target price on Timken from $95.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $70.00 price target (down previously from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Timken has an average rating of “Moderate Buy” and a consensus target price of $84.91.

Timken Stock Up 0.7 %

TKR stock opened at $61.39 on Friday. The Timken Company has a 1-year low of $56.20 and a 1-year high of $94.71. The firm has a fifty day moving average price of $72.55 and a two-hundred day moving average price of $75.99. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 1.51 and a beta of 1.28.

Timken (NYSE:TKR) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS 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 EPS for the current year.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.34 per share. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 annualized dividend and a dividend yield of 2.22%. Timken’s dividend payout ratio is currently 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.