KLP Kapitalforvaltning AS Invests $992,000 in The Timken Company (NYSE:TKR)

KLP Kapitalforvaltning AS bought a new position in shares of The Timken Company (NYSE:TKR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 13,900 shares of the industrial products company's stock, valued at approximately $992,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fairway Wealth LLC bought a new stake in shares of Timken during the 4th quarter worth about $29,000. Amundi increased its position in Timken by 25.8% during the 4th quarter. Amundi now owns 848 shares of the industrial products company's stock worth $61,000 after buying an additional 174 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Timken in the fourth quarter valued at about $109,000. AlphaQuest LLC raised its stake in Timken by 25,983.3% in the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company's stock worth $112,000 after purchasing an additional 1,559 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Timken by 88.3% in the 4th quarter. Blue Trust Inc. now owns 1,877 shares of the industrial products company's stock valued at $134,000 after purchasing an additional 880 shares during the period. Institutional investors own 89.08% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TKR shares. Morgan Stanley boosted their price target on Timken from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Bank of America raised Timken from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. Jefferies Financial Group reiterated a "hold" rating and set a $70.00 price target (down previously from $90.00) on shares of Timken in a research report on Wednesday. Evercore ISI upped their target price on Timken from $91.00 to $102.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group dropped their price objective on Timken from $85.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.82.

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Timken Trading Down 5.3 %

Shares of Timken stock traded down $3.38 on Friday, reaching $60.03. 108,961 shares of the company's stock were exchanged, compared to its average volume of 527,204. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07. The company has a market capitalization of $4.20 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 1.51 and a beta of 1.37. The firm's 50-day moving average is $77.42 and its two-hundred day moving average is $78.01. The Timken Company has a 52 week low of $59.85 and a 52 week high of $94.71.

Timken (NYSE:TKR - Get Free Report) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. Sell-side analysts predict that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken's payout ratio is presently 27.25%.

Insider Buying and Selling at Timken

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the firm's stock in a transaction on Friday, February 7th. The stock was 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 in the company, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.70% of the company's stock.

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.