TT International Asset Management LTD Has $3.37 Million Stock Position in The Timken Company (NYSE:TKR)

TT International Asset Management LTD boosted its stake in The Timken Company (NYSE:TKR - Free Report) by 20.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,187 shares of the industrial products company's stock after buying an additional 7,913 shares during the period. Timken accounts for 0.5% of TT International Asset Management LTD's portfolio, making the stock its 24th biggest holding. TT International Asset Management LTD owned about 0.07% of Timken worth $3,367,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of TKR. Commonwealth Equity Services LLC increased its stake in shares of Timken by 20.7% during the second quarter. Commonwealth Equity Services LLC now owns 9,704 shares of the industrial products company's stock valued at $778,000 after acquiring an additional 1,662 shares during the period. Choreo LLC bought a new position in Timken during the 2nd quarter valued at $328,000. Oppenheimer & Co. Inc. increased its position in shares of Timken by 16.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 69,274 shares of the industrial products company's stock valued at $5,551,000 after purchasing an additional 9,814 shares during the period. GHP Investment Advisors Inc. raised its stake in shares of Timken by 8.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 15,634 shares of the industrial products company's stock worth $1,253,000 after buying an additional 1,159 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Timken by 6.4% in the second quarter. Federated Hermes Inc. now owns 204,328 shares of the industrial products company's stock valued at $16,373,000 after buying an additional 12,305 shares during the period. Institutional investors and hedge funds own 89.08% of the company's stock.

Analyst Upgrades and Downgrades

TKR has been the topic of a number of research analyst reports. Citigroup raised Timken from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $85.00 to $90.00 in a report on Monday, December 9th. Jefferies Financial Group raised shares of Timken from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $80.00 to $95.00 in a research note on Friday, December 6th. Oppenheimer cut their target price on shares of Timken from $102.00 to $97.00 and set an "outperform" rating for the company in a research note on Wednesday, November 6th. Morgan Stanley upgraded shares of Timken from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $82.00 to $93.00 in a research report on Tuesday, December 17th. Finally, KeyCorp reiterated a "sector weight" rating on shares of Timken in a research report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Timken has a consensus rating of "Moderate Buy" and a consensus target price of $92.90.

Timken Stock Up 2.1 %

Shares of TKR traded up $1.53 during mid-day trading on Monday, reaching $74.15. The company's stock had a trading volume of 558,690 shares, compared to its average volume of 666,841. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 1.12 and a beta of 1.39. The business has a fifty day moving average of $74.62 and a 200 day moving average of $79.88. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The Timken Company has a 1 year low of $69.35 and a 1 year 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). Timken had a return on equity of 14.82% and a net margin of 7.41%. The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the prior year, the company posted $1.55 earnings per share. The firm's revenue was down 1.4% on a year-over-year basis. As a group, analysts forecast that The Timken Company will post 5.61 earnings per share for the current fiscal year.

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Tuesday, November 19th. Timken's payout ratio is presently 28.27%.

Insider Buying and Selling at Timken

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the business's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available 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.