Fmr LLC Sells 59,857 Shares of The Timken Company (NYSE:TKR)

Fmr LLC lessened its stake in shares of The Timken Company (NYSE:TKR) by 1.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,816,660 shares of the industrial products company’s stock after selling 59,857 shares during the quarter. Fmr LLC owned approximately 6.87% of Timken worth $405,996,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TKR. Coastline Trust Co bought a new position in Timken in the third quarter valued at about $29,000. Versant Capital Management Inc bought a new position in Timken in the 2nd quarter valued at approximately $30,000. EverSource Wealth Advisors LLC boosted its position in Timken by 1,905.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after buying an additional 343 shares during the period. Livelsberger Financial Advisory bought a new stake in Timken during the 3rd quarter worth approximately $32,000. Finally, UMB Bank n.a. increased its position in Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 168 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

Timken Stock Up 0.8 %

Shares of NYSE TKR opened at $77.45 on Friday. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The firm has a market cap of $5.43 billion, a PE ratio of 16.10, a P/E/G ratio of 1.14 and a beta of 1.43. The company’s fifty day simple moving average is $81.06 and its 200 day simple moving average is $82.52. The Timken Company has a 12-month low of $72.14 and a 12-month high of $94.71.

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

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.36 annualized dividend and a dividend yield of 1.76%. Timken’s dividend payout ratio is 28.27%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $87.00 to $91.00 in a report on Wednesday, November 13th. Citigroup initiated coverage on Timken in a research report on Monday, October 14th. They issued a “neutral” rating and a $90.00 price target on the stock. Oppenheimer lowered their price objective on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. KeyCorp reiterated a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Finally, DA Davidson lowered their price target on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $90.00.

Insider Transactions at Timken

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.70% of the stock is owned by insiders.

Timken 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.