The Timken Company (NYSE:TKR) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in The Timken Company (NYSE:TKR - Free Report) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,605,131 shares of the industrial products company's stock after selling 74,659 shares during the quarter. Thrivent Financial for Lutherans owned about 3.72% of Timken worth $185,928,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Coastline Trust Co bought a new stake in shares of Timken in the third quarter worth about $29,000. Fairway Wealth LLC bought a new stake in Timken during the fourth quarter worth approximately $29,000. Amundi increased its stake in Timken by 25.8% during the fourth quarter. Amundi now owns 848 shares of the industrial products company's stock worth $61,000 after acquiring an additional 174 shares during the last quarter. Brooklyn Investment Group bought a new stake in Timken during the third quarter worth approximately $74,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Timken during the fourth quarter worth approximately $109,000. 89.08% of the stock is owned by institutional investors.

Timken Stock Down 0.4 %

Timken stock traded down $0.34 during mid-day trading on Friday, reaching $74.35. 1,086,028 shares of the company were exchanged, compared to its average volume of 498,208. The business has a fifty day moving average of $78.21 and a 200 day moving average of $78.46. 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 firm has a market cap of $5.20 billion, a P/E ratio of 14.90, a PEG ratio of 1.51 and a beta of 1.37. The Timken Company has a 12-month low of $69.35 and a 12-month high of $94.71.

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Timken (NYSE:TKR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping 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%. Research analysts anticipate that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Tuesday, February 25th. Timken's payout ratio is presently 27.25%.

Insider Transactions at Timken

In other news, CFO Philip D. Fracassa sold 5,000 shares of the company'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 of the company's stock, valued at approximately $7,379,091.50. This represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 8.70% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on TKR shares. Morgan Stanley boosted their price objective on Timken from $93.00 to $94.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Bank of America upgraded Timken from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Evercore ISI boosted their target price on Timken from $91.00 to $102.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Jefferies Financial Group upgraded Timken from a "hold" rating to a "buy" rating and boosted their target price for the company from $80.00 to $95.00 in a research report on Friday, December 6th. Finally, KeyCorp reiterated a "sector weight" rating on shares of Timken in a report on Friday, November 22nd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $92.70.

Timken 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.