The Timken Company (NYSE:TKR) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in The Timken Company (NYSE:TKR) by 14.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 18,803 shares of the industrial products company’s stock after acquiring an additional 2,382 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Timken were worth $1,342,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Amundi increased its holdings in shares of Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after acquiring an additional 174 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Timken in the 3rd quarter valued at about $74,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Timken in the 4th quarter valued at about $109,000. AlphaQuest LLC increased its holdings in shares of Timken by 25,983.3% in the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock valued at $112,000 after acquiring an additional 1,559 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in shares of Timken by 16.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,823 shares of the industrial products company’s stock valued at $154,000 after acquiring an additional 258 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Trading Down 0.8 %

Shares of TKR stock opened at $74.56 on Wednesday. The business’s 50 day moving average is $78.13 and its two-hundred day moving average is $78.57. The Timken Company has a twelve month low of $69.35 and a twelve month high of $94.71. The company has a market capitalization of $5.22 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 1.51 and a beta of 1.37. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.08. Timken had a return on equity of 13.93% and a net margin of 7.71%. Equities analysts forecast that The Timken Company will post 5.62 EPS for the current 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 issued a $0.34 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 annualized dividend and a dividend yield of 1.82%. Timken’s dividend payout ratio is currently 27.25%.

Wall Street Analysts Forecast Growth

TKR has been the topic of a number of recent analyst reports. Evercore ISI increased their price objective on Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Jefferies Financial Group upgraded Timken from a “hold” rating to a “buy” rating and raised their price target for the stock from $80.00 to $95.00 in a research note on Friday, December 6th. Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $73.00 to $78.00 in a research note on Tuesday, February 4th. Morgan Stanley raised their price target on Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Finally, Citigroup dropped their price target on Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.70.

Insider Activity

In other news, CFO Philip D. Fracassa sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $81.50, for a total value of $407,500.00. Following the completion of the sale, the chief financial officer now directly owns 90,541 shares of the company’s stock, valued at $7,379,091.50. This trade represents a 5.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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.