The Timken Company (NYSE:TKR) Shares Sold by Fmr LLC

FMR LLC reduced its position in shares of The Timken Company (NYSE:TKR - Free Report) by 1.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. 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 filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TKR. Cubist Systematic Strategies LLC bought a new position in shares of Timken in the 2nd quarter worth approximately $4,363,000. Comerica Bank grew its stake in shares of Timken by 13.8% in the first quarter. Comerica Bank now owns 58,945 shares of the industrial products company's stock worth $5,154,000 after acquiring an additional 7,160 shares during the period. American Century Companies Inc. raised its stake in Timken by 4.8% during the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company's stock valued at $225,750,000 after buying an additional 128,791 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Timken in the third quarter worth about $2,863,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Timken by 102.5% in the 2nd quarter. Hsbc Holdings PLC now owns 12,186 shares of the industrial products company's stock worth $979,000 after purchasing an additional 6,167 shares during the period. Hedge funds and other institutional investors own 89.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TKR. Evercore ISI raised shares of Timken from an "in-line" rating to an "outperform" rating and increased their price objective for the stock from $87.00 to $91.00 in a research note on Wednesday, November 13th. DA Davidson cut their price objective on Timken from $103.00 to $99.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. KeyCorp reaffirmed a "sector weight" rating on shares of Timken in a research note on Friday, November 22nd. Citigroup initiated coverage on shares of Timken in a research note on Monday, October 14th. They issued a "neutral" rating and a $90.00 target price on the stock. Finally, Oppenheimer decreased their price target on Timken from $102.00 to $97.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Timken has an average rating of "Hold" and a consensus target price of $90.00.

Timken Trading Up 0.8 %

Shares of TKR stock traded up $0.65 on Friday, hitting $77.45. The stock had a trading volume of 327,355 shares, compared to its average volume of 485,595. 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 1 year low of $72.14 and a 1 year high of $94.71. The firm has a market capitalization of $5.43 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.14 and a beta of 1.43. The company's 50 day moving average price is $80.96 and its 200-day moving average price is $82.42.

Timken (NYSE:TKR - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share 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 analyst estimates of $1.12 billion. The firm's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.55 EPS. Analysts anticipate that The Timken Company will post 5.61 earnings per share for the current year.

Timken Announces Dividend

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

Insider Buying and Selling

In related news, Director Richard G. Kyle sold 30,000 shares of the firm's stock in a transaction that occurred on 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 sale, the director now directly owns 194,485 shares of the company's stock, valued at approximately $14,895,606.15. This trade represents a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.70% of the stock is currently owned by corporate insiders.

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.