The Timken Company (NYSE:TKR) Holdings Lifted by Connable Office Inc.

Connable Office Inc. grew its position in shares of The Timken Company (NYSE:TKR) by 33.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,868 shares of the industrial products company’s stock after buying an additional 1,487 shares during the quarter. Connable Office Inc.’s holdings in Timken were worth $495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in TKR. Cubist Systematic Strategies LLC acquired a new position in shares of Timken in the 2nd quarter valued at $4,363,000. Comerica Bank raised its position in shares of Timken by 13.8% during the 1st quarter. Comerica Bank now owns 58,945 shares of the industrial products company’s stock valued at $5,154,000 after acquiring an additional 7,160 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Timken by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock valued at $569,691,000 after purchasing an additional 347,794 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Timken by 29.4% in the 1st quarter. Russell Investments Group Ltd. now owns 138,705 shares of the industrial products company’s stock worth $12,127,000 after purchasing an additional 31,552 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of 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 period. Institutional investors and hedge funds own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

TKR has been the topic of several analyst reports. Citigroup started coverage on shares of Timken in a report on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price on the stock. Oppenheimer cut their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. KeyCorp reduced their target price on shares of Timken from $104.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. Evercore ISI raised Timken from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $87.00 to $91.00 in a research report on Wednesday. Finally, DA Davidson dropped their price objective on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $90.00.

Insider Buying and Selling at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $76.59, for a total value 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 $14,895,606.15. This represents a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.70% of the stock is currently owned by corporate insiders.

Timken Trading Up 0.7 %

NYSE TKR opened at $74.99 on Friday. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. The stock has a market cap of $5.26 billion, a P/E ratio of 15.59, a P/E/G ratio of 1.11 and a beta of 1.43. The Timken Company has a 12 month low of $71.57 and a 12 month high of $94.71. The stock’s fifty day moving average price is $81.95 and its 200-day moving average price is $83.47.

Timken (NYSE:TKR) last issued its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the company earned $1.55 EPS. As a group, equities analysts forecast that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.36 annualized dividend and a dividend yield of 1.81%. Timken’s dividend payout ratio (DPR) is 28.27%.

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.