Wilmington Savings Fund Society FSB Takes $172,000 Position in The Timken Company (NYSE:TKR)

Wilmington Savings Fund Society FSB acquired a new position in shares of The Timken Company (NYSE:TKR) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,040 shares of the industrial products company’s stock, valued at approximately $172,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Coastline Trust Co purchased a new position in shares of Timken during the 3rd quarter worth $29,000. Livelsberger Financial Advisory purchased a new position in Timken during the third quarter worth about $32,000. UMB Bank n.a. boosted its stake in Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after buying an additional 168 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Timken in the 2nd quarter valued at about $44,000. Finally, Brooklyn Investment Group acquired a new position in shares of Timken during the 3rd quarter valued at about $74,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

Insider Buying and Selling at Timken

In related news, Director Richard G. Kyle sold 30,000 shares of the business’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 transaction, the director now owns 194,485 shares in the company, valued at approximately $14,895,606.15. The trade was a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Evercore ISI raised shares of Timken from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $87.00 to $91.00 in a research report on Wednesday, November 13th. Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and boosted their price objective for the company from $80.00 to $95.00 in a research note on Friday, December 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Citigroup raised Timken from a “neutral” rating to a “buy” rating and boosted their price target for the company from $85.00 to $90.00 in a research report on Monday, December 9th. Finally, Morgan Stanley upgraded Timken from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $82.00 to $93.00 in a research note on Tuesday. Five 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 stock has an average rating of “Moderate Buy” and an average price target of $92.90.

Timken Price Performance

TKR stock opened at $72.00 on Thursday. The firm has a market cap of $5.05 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 1.12 and a beta of 1.38. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The Timken Company has a 1 year low of $71.70 and a 1 year high of $94.71. The stock has a 50-day simple moving average of $79.13 and a 200-day simple moving average of $81.22.

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

Timken Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a yield of 1.89%. Timken’s dividend payout ratio is currently 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.