State Street Corp grew its stake in shares of The Timken Company (NYSE:TKR - Free Report) by 3.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,953,838 shares of the industrial products company's stock after buying an additional 66,208 shares during the period. State Street Corp owned 2.79% of Timken worth $164,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently modified their holdings of the stock. Coastline Trust Co purchased a new stake in Timken in the 3rd quarter worth $29,000. Livelsberger Financial Advisory purchased a new position in Timken during the 3rd quarter valued at approximately $32,000. UMB Bank n.a. increased its stake 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 acquiring an additional 168 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Timken during the 2nd quarter worth approximately $44,000. Finally, Brooklyn Investment Group bought a new position in shares of Timken during the 3rd quarter valued at approximately $74,000. Hedge funds and other institutional investors own 89.08% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the stock. DA Davidson reduced their price target on shares of Timken from $103.00 to $99.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Citigroup upgraded shares of Timken from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $85.00 to $90.00 in a report on Monday, December 9th. Oppenheimer decreased their target price on shares of Timken from $102.00 to $97.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. Jefferies Financial Group upgraded Timken from a "hold" rating to a "buy" rating and lifted their price target for the stock from $80.00 to $95.00 in a research report on Friday, December 6th. Finally, KeyCorp restated a "sector weight" rating on shares of Timken in a research report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Timken currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.00.
Get Our Latest Stock Analysis on TKR
Timken Trading Down 0.6 %
Shares of TKR traded down $0.48 during mid-day trading on Friday, reaching $75.50. 337,610 shares of the company's stock traded hands, compared to its average volume of 486,958. 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 stock's 50-day moving average is $79.64 and its two-hundred day moving average is $81.50. The Timken Company has a 12 month low of $72.35 and a 12 month high of $94.71. The stock has a market cap of $5.29 billion, a P/E ratio of 15.70, a P/E/G ratio of 1.15 and a beta of 1.38.
Timken (NYSE:TKR - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the company earned $1.55 EPS. The business's revenue was down 1.4% compared to the same quarter last year. Research analysts forecast that The Timken Company will post 5.61 earnings per share for the current fiscal year.
Timken Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were given a $0.34 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.80%. Timken's dividend payout ratio (DPR) is 28.27%.
Insiders Place Their Bets
In other Timken news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction on Friday, November 8th. The stock was sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the completion of the sale, the director now directly owns 194,485 shares of the company's stock, valued at $14,895,606.15. The trade was a 13.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 8.70% of the company's stock.
Timken Profile
(
Free Report)
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.
Featured Stories
Before you consider Timken, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Timken wasn't on the list.
While Timken currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to generate income with your stock portfolio? Use these ten stocks to generate a safe and reliable source of investment income.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.