Bank of Montreal Can Raises Holdings in The Timken Company (NYSE:TKR)

Bank of Montreal Can boosted its holdings in The Timken Company (NYSE:TKR - Free Report) by 37.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,820 shares of the industrial products company's stock after acquiring an additional 8,077 shares during the quarter. Bank of Montreal Can's holdings in Timken were worth $2,128,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Polymer Capital Management US LLC bought a new position in shares of Timken during the fourth quarter valued at $699,000. Federated Hermes Inc. lifted its stake in Timken by 13.0% during the 4th quarter. Federated Hermes Inc. now owns 245,668 shares of the industrial products company's stock valued at $17,533,000 after acquiring an additional 28,246 shares during the period. Landscape Capital Management L.L.C. bought a new position in Timken during the 4th quarter valued at about $566,000. Foundry Partners LLC boosted its holdings in shares of Timken by 6.5% during the 4th quarter. Foundry Partners LLC now owns 52,711 shares of the industrial products company's stock valued at $3,762,000 after acquiring an additional 3,197 shares during the last quarter. Finally, World Investment Advisors raised its holdings in shares of Timken by 9.4% during the fourth quarter. World Investment Advisors now owns 5,313 shares of the industrial products company's stock valued at $379,000 after purchasing an additional 458 shares during the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Timken Price Performance

Shares of NYSE:TKR traded up $1.41 during trading on Tuesday, reaching $61.60. 606,779 shares of the company's stock traded hands, compared to its average volume of 554,317. The firm has a market cap of $4.31 billion, a PE ratio of 12.34, a P/E/G ratio of 1.51 and a beta of 1.28. The Timken Company has a fifty-two week low of $56.20 and a fifty-two week high of $94.71. The company has a 50-day simple moving average of $71.68 and a 200-day simple moving average of $75.69. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69.

Timken (NYSE:TKR - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, topping 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%. As a group, analysts predict that The Timken Company will post 5.62 earnings per share for the current year.

Timken Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Tuesday, February 25th. Timken's payout ratio is 27.25%.

Analysts Set New Price Targets

TKR has been the topic of several research reports. Evercore ISI raised their target price on Timken from $91.00 to $102.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Bank of America raised shares of Timken from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $73.00 to $78.00 in a report on Tuesday, February 4th. Jefferies Financial Group restated a "hold" rating and issued a $70.00 price target (down previously from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Morgan Stanley decreased their price objective on shares of Timken from $94.00 to $88.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Citigroup cut their price objective on shares of Timken from $95.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Timken has an average rating of "Hold" and an average price target of $81.91.

Insider Activity

In related news, CFO Philip D. Fracassa sold 5,000 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $81.50, for a total value of $407,500.00. Following the completion of the sale, the chief financial officer now owns 90,541 shares of the company's stock, valued at approximately $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 can be accessed through this link. Company insiders own 8.70% of the company's stock.

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.