TT International Asset Management LTD Has $3.31 Million Stock Holdings in The Timken Company (NYSE:TKR)

TT International Asset Management LTD lifted its stake in shares of The Timken Company (NYSE:TKR - Free Report) by 1,075.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,274 shares of the industrial products company's stock after purchasing an additional 35,932 shares during the quarter. TT International Asset Management LTD owned about 0.06% of Timken worth $3,310,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cetera Advisors LLC raised its position in Timken by 11.0% in the first quarter. Cetera Advisors LLC now owns 3,717 shares of the industrial products company's stock worth $325,000 after acquiring an additional 368 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Timken during the 2nd quarter worth about $233,000. Envestnet Portfolio Solutions Inc. raised its holdings in Timken by 6.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 4,968 shares of the industrial products company's stock worth $398,000 after buying an additional 307 shares during the period. Fiduciary Financial Group LLC acquired a new stake in Timken during the 2nd quarter worth about $331,000. Finally, Ellsworth Advisors LLC raised its holdings in Timken by 2.1% during the 2nd quarter. Ellsworth Advisors LLC now owns 57,251 shares of the industrial products company's stock worth $4,588,000 after buying an additional 1,177 shares during the period. 89.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Oppenheimer lowered their target price on Timken from $102.00 to $97.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. 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. KeyCorp reiterated 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 upped their target price for the company from $80.00 to $95.00 in a research note on Friday, December 6th. Finally, Citigroup upgraded Timken from a "neutral" rating to a "buy" rating and upped their target price for the company from $85.00 to $90.00 in a research note on Monday. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $91.00.

Timken Price Performance

Shares of TKR stock traded down $0.15 during trading hours on Wednesday, hitting $77.49. 114,005 shares of the company's stock were exchanged, compared to its average volume of 485,606. The stock's 50-day moving average is $80.04 and its 200-day moving average is $81.65. 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 has a market cap of $5.43 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 1.13 and a beta of 1.38. The Timken Company has a 52 week low of $72.35 and a 52 week high of $94.71.

Timken (NYSE:TKR - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. Timken's revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.55 EPS. As a group, research analysts forecast that The Timken Company will post 5.61 EPS for the current year.

Timken Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were paid a $0.34 dividend. 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 at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the firm's stock in a transaction dated 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 sale, the director now owns 194,485 shares of the company's stock, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.