JPMorgan Chase & Co. Has $179.59 Million Stock Holdings in The Timken Company (NYSE:TKR)

JPMorgan Chase & Co. reduced its position in shares of The Timken Company (NYSE:TKR - Free Report) by 29.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,130,603 shares of the industrial products company's stock after selling 879,422 shares during the quarter. JPMorgan Chase & Co. owned 3.04% of Timken worth $179,589,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. M&T Bank Corp boosted its stake in shares of Timken by 0.6% during the 3rd quarter. M&T Bank Corp now owns 24,482 shares of the industrial products company's stock valued at $2,064,000 after buying an additional 144 shares during the period. Creative Planning boosted its position in Timken by 1.7% during the second quarter. Creative Planning now owns 9,123 shares of the industrial products company's stock valued at $731,000 after purchasing an additional 150 shares during the last quarter. Beese Fulmer Investment Management Inc. grew its stake in Timken by 1.0% in the third quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company's stock valued at $1,282,000 after purchasing an additional 155 shares in the last quarter. Blue Trust Inc. increased its position in Timken by 20.0% in the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company's stock worth $80,000 after purchasing an additional 166 shares during the last quarter. Finally, UMB Bank n.a. increased its position in 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 purchasing an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company's stock.

Insider Activity

In other Timken news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction on Friday, November 8th. The shares were sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the sale, the director now owns 194,485 shares in the company, valued at $14,895,606.15. The trade was a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.70% of the stock is owned by company insiders.

Timken Stock Performance

TKR traded up $0.49 during midday trading on Wednesday, reaching $71.37. The company's stock had a trading volume of 401,067 shares, compared to its average volume of 485,149. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. The company has a fifty day simple moving average of $76.67 and a 200 day simple moving average of $80.43. The stock has a market cap of $5.00 billion, a P/E ratio of 14.84, a PEG ratio of 1.12 and a beta of 1.38. The Timken Company has a twelve month low of $70.00 and a twelve month 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). The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. The company's revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.55 EPS. Research analysts expect that The Timken Company will post 5.61 earnings per share for the current year.

Timken Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.34 per share. The ex-dividend date was Tuesday, November 19th. This represents a $1.36 annualized dividend and a dividend yield of 1.91%. Timken's payout ratio is 28.27%.

Analysts Set New Price Targets

Several equities research analysts recently commented on TKR shares. Morgan Stanley raised Timken from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $82.00 to $93.00 in a research note on Tuesday, December 17th. Jefferies Financial Group upgraded shares of Timken from a "hold" rating to a "buy" rating and increased their price target for the stock from $80.00 to $95.00 in a research note on Friday, December 6th. KeyCorp reaffirmed a "sector weight" rating on shares of Timken in a research note on Friday, November 22nd. Citigroup raised shares of Timken from a "neutral" rating to a "buy" rating and increased their target price for the stock from $85.00 to $90.00 in a research report on Monday, December 9th. Finally, Evercore ISI upgraded Timken from an "in-line" rating to an "outperform" rating and raised their target price for the company from $87.00 to $91.00 in a report on Wednesday, November 13th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.90.

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.