Harbor Capital Advisors Inc. Purchases 13,697 Shares of The Timken Company (NYSE:TKR)

Harbor Capital Advisors Inc. increased its position in The Timken Company (NYSE:TKR - Free Report) by 29.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 60,625 shares of the industrial products company's stock after buying an additional 13,697 shares during the period. Harbor Capital Advisors Inc. owned about 0.09% of Timken worth $4,327,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of Timken by 15.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,684 shares of the industrial products company's stock valued at $477,000 after acquiring an additional 885 shares in the last quarter. Retirement Systems of Alabama raised its stake in Timken by 1.1% during the 3rd quarter. Retirement Systems of Alabama now owns 176,643 shares of the industrial products company's stock valued at $14,889,000 after purchasing an additional 1,869 shares during the period. Franklin Resources Inc. lifted its holdings in Timken by 0.5% in the 3rd quarter. Franklin Resources Inc. now owns 41,373 shares of the industrial products company's stock worth $3,502,000 after purchasing an additional 222 shares in the last quarter. Synovus Financial Corp boosted its stake in Timken by 5.4% in the 3rd quarter. Synovus Financial Corp now owns 8,286 shares of the industrial products company's stock worth $698,000 after purchasing an additional 423 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Timken during the 3rd quarter valued at approximately $172,000. Hedge funds and other institutional investors own 89.08% of the company's stock.

Timken Trading Down 1.6 %

Shares of TKR traded down $1.18 during midday trading on Friday, hitting $72.77. The stock had a trading volume of 628,991 shares, compared to its average volume of 684,882. The stock's 50 day moving average is $74.80 and its 200 day moving average is $79.92. The firm has a market cap of $5.10 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 1.12 and a beta of 1.39. 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 $69.35 and a 1 year high of $94.71.

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

Timken Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors 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 dividend on an annualized basis and a yield of 1.87%. Timken's payout ratio is 28.27%.

Analyst Ratings Changes

Several research firms have recently commented on TKR. Evercore ISI raised shares of Timken from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $87.00 to $91.00 in a report on Wednesday, November 13th. KeyCorp reissued a "sector weight" rating on shares of Timken in a report on Friday, November 22nd. Jefferies Financial Group upgraded Timken from a "hold" rating to a "buy" rating and raised their price objective for the company from $80.00 to $95.00 in a research report on Friday, December 6th. Oppenheimer decreased their target price on Timken from $102.00 to $97.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. Finally, DA Davidson cut their price target on Timken from $103.00 to $99.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Timken presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.90.

Insider Buying and Selling at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the business'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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.70% of the stock is 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.