Handelsbanken Fonder AB Sells 300 Shares of The Timken Company (NYSE:TKR)

Handelsbanken Fonder AB cut its stake in The Timken Company (NYSE:TKR) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,800 shares of the industrial products company’s stock after selling 300 shares during the period. Handelsbanken Fonder AB’s holdings in Timken were worth $842,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Coastline Trust Co purchased a new stake in Timken in the third quarter worth about $29,000. Brooklyn Investment Group purchased a new position in shares of Timken during the third quarter valued at approximately $74,000. Venturi Wealth Management LLC lifted its holdings in shares of Timken by 230.7% during the third quarter. Venturi Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock valued at $92,000 after purchasing an additional 759 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Timken by 88.3% during the fourth 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 last quarter. Finally, Covestor Ltd lifted its holdings in shares of Timken by 20.0% during the third quarter. Covestor Ltd now owns 1,786 shares of the industrial products company’s stock valued at $151,000 after purchasing an additional 298 shares during the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the sale, the chief financial officer now owns 90,541 shares of the company’s stock, valued at $7,379,091.50. The trade was a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 8.70% of the stock is currently owned by insiders.

Timken Trading Up 2.2 %

NYSE:TKR opened at $81.06 on Friday. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The Timken Company has a 12 month low of $69.35 and a 12 month high of $94.71. The company has a market cap of $5.67 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.51 and a beta of 1.39. The company has a 50 day simple moving average of $77.33 and a two-hundred day simple moving average of $79.31.

Timken (NYSE:TKR) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. Research analysts forecast that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Tuesday, February 25th. Timken’s dividend payout ratio (DPR) is presently 27.25%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and lifted their target price for the company from $80.00 to $95.00 in a report on Friday, December 6th. KeyCorp reiterated a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Evercore ISI lifted their target price on shares of Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, DA Davidson lowered their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Timken currently has a consensus rating of “Moderate Buy” and an average target price of $92.70.

About Timken

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.