The Timken Company (NYSE:TKR) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC increased its holdings in shares of The Timken Company (NYSE:TKR) by 25.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,063 shares of the industrial products company’s stock after acquiring an additional 821 shares during the period. Summit Trail Advisors LLC’s holdings in Timken were worth $326,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TKR. American Century Companies Inc. increased its position in shares of Timken by 7.7% in the third quarter. American Century Companies Inc. now owns 1,826,547 shares of the industrial products company’s stock valued at $134,233,000 after buying an additional 131,253 shares in the last quarter. AQR Capital Management LLC increased its holdings in Timken by 16.8% in the 3rd quarter. AQR Capital Management LLC now owns 764,174 shares of the industrial products company’s stock worth $56,159,000 after acquiring an additional 109,767 shares in the last quarter. Invesco Ltd. raised its position in Timken by 31.9% during the third quarter. Invesco Ltd. now owns 680,571 shares of the industrial products company’s stock worth $50,015,000 after acquiring an additional 164,421 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Timken by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 614,535 shares of the industrial products company’s stock valued at $45,162,000 after purchasing an additional 15,374 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Timken by 2.6% in the third quarter. The Manufacturers Life Insurance Company now owns 562,907 shares of the industrial products company’s stock valued at $41,368,000 after purchasing an additional 14,270 shares during the period. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Insider Buying and Selling

In other Timken news, EVP Christopher A. Coughlin sold 29,006 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $89.30, for a total value of $2,590,235.80. Following the sale, the executive vice president now owns 84,995 shares of the company’s stock, valued at $7,590,053.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Timken news, EVP Christopher A. Coughlin sold 29,006 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the sale, the executive vice president now directly owns 84,995 shares in the company, valued at approximately $7,590,053.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Richard G. Kyle sold 20,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the completion of the transaction, the chief executive officer now owns 366,799 shares of the company’s stock, valued at approximately $32,678,122.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,006 shares of company stock valued at $5,269,636. Company insiders own 8.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TKR shares. StockNews.com lowered shares of Timken from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Loop Capital boosted their price target on Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group increased their price objective on Timken from $78.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. Oppenheimer reaffirmed an “outperform” rating and set a $100.00 target price (up previously from $97.00) on shares of Timken in a research note on Thursday, March 21st. Finally, KeyCorp raised their price target on shares of Timken from $91.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $87.09.

Timken Stock Down 0.9 %

Shares of NYSE TKR opened at $89.18 on Wednesday. The Timken Company has a 1 year low of $65.71 and a 1 year high of $95.08. The company has a market capitalization of $6.28 billion, a P/E ratio of 17.15, a P/E/G ratio of 1.21 and a beta of 1.51. The company has a 50 day simple moving average of $86.41 and a 200-day simple moving average of $80.35. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.02.

Timken (NYSE:TKR) last posted its earnings results on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.15 billion. Timken had a return on equity of 17.98% and a net margin of 7.99%. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.09 earnings per share. On average, equities research analysts predict that The Timken Company will post 6.18 earnings per share for the current year.

Timken Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.53%. This is an increase from Timken’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Monday, May 13th. Timken’s payout ratio is 25.14%.

About Timken

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.