Ashton Thomas Private Wealth LLC purchased a new position in shares of The Timken Company (NYSE:TKR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,800 shares of the industrial products company's stock, valued at approximately $485,000.
Other large investors also recently modified their holdings of the company. Inceptionr LLC acquired a new stake in Timken during the 4th quarter worth approximately $751,000. Raymond James Financial Inc. acquired a new position in shares of Timken during the fourth quarter worth $14,460,000. Proficio Capital Partners LLC acquired a new position in shares of Timken during the fourth quarter worth $3,101,000. Atria Investments Inc grew its stake in shares of Timken by 23.3% in the fourth quarter. Atria Investments Inc now owns 10,866 shares of the industrial products company's stock worth $776,000 after purchasing an additional 2,056 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. increased its holdings in Timken by 24.3% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 5,754 shares of the industrial products company's stock valued at $411,000 after purchasing an additional 1,124 shares during the period. 89.08% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In related news, CFO Philip D. Fracassa sold 5,000 shares of the firm's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the transaction, the chief financial officer now directly owns 90,541 shares of the company's stock, valued at $7,379,091.50. This trade represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 8.70% of the company's stock.
Timken Stock Up 2.7 %
Shares of TKR traded up $1.93 during trading hours on Friday, hitting $74.58. The stock had a trading volume of 367,445 shares, compared to its average volume of 498,135. The firm has a market capitalization of $5.22 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 1.51 and a beta of 1.37. The firm has a 50 day simple moving average of $77.97 and a 200-day simple moving average of $78.88. The Timken Company has a 1-year low of $69.35 and a 1-year high of $94.71. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61.
Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. Sell-side analysts predict that The Timken Company will post 5.62 EPS for the current fiscal year.
Timken Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.82%. The ex-dividend date was Tuesday, February 25th. Timken's dividend payout ratio (DPR) is presently 27.25%.
Analysts Set New Price Targets
TKR has been the topic of a number of analyst reports. Citigroup reduced their price target on Timken from $90.00 to $85.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group upgraded Timken from a "hold" rating to a "buy" rating and upped their target price for the company from $80.00 to $95.00 in a report on Friday, December 6th. KeyCorp restated a "sector weight" rating on shares of Timken in a report on Friday, November 22nd. Evercore ISI upped their price objective on shares of Timken from $91.00 to $102.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Finally, Bank of America raised shares of Timken from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $73.00 to $78.00 in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Timken presently has a consensus rating of "Moderate Buy" and an average target price of $92.70.
Read Our Latest Analysis on TKR
About Timken
(
Free Report)
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.
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