First Horizon Advisors Inc. Buys 258 Shares of The Timken Company (NYSE:TKR)

First Horizon Advisors Inc. boosted its stake in The Timken Company (NYSE:TKR) by 16.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,823 shares of the industrial products company’s stock after acquiring an additional 258 shares during the period. First Horizon Advisors Inc.’s holdings in Timken were worth $154,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Coastline Trust Co acquired a new position in shares of Timken in the 3rd quarter worth approximately $29,000. Versant Capital Management Inc acquired a new position in Timken in the second quarter valued at $30,000. EverSource Wealth Advisors LLC boosted its position in Timken by 1,905.6% during the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 343 shares during the last quarter. Livelsberger Financial Advisory acquired a new stake in Timken during the 3rd quarter worth about $32,000. Finally, UMB Bank n.a. raised its position in shares of 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 acquiring an additional 168 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TKR shares. DA Davidson decreased their target price on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. KeyCorp reiterated a “sector weight” rating on shares of Timken in a research note on Friday. Evercore ISI raised shares of Timken from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $87.00 to $91.00 in a research note on Wednesday, November 13th. Citigroup assumed coverage on shares of Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 price target for the company. Finally, Oppenheimer cut their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Timken currently has a consensus rating of “Hold” and an average price target of $90.00.

Timken Trading Up 1.0 %

NYSE:TKR opened at $75.96 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. The Timken Company has a one year low of $71.57 and a one year high of $94.71. The company has a market cap of $5.33 billion, a PE ratio of 15.79, a PEG ratio of 1.12 and a beta of 1.43. The firm has a 50-day moving average of $81.45 and a 200-day moving average of $82.85.

Timken (NYSE:TKR) last issued its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 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 in the prior year, the firm posted $1.55 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities research analysts expect that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, November 19th. Timken’s dividend payout ratio is 28.27%.

Insider Transactions at Timken

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the sale, the director now directly owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. This represents a 13.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 8.70% of the company’s stock.

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.