JPMorgan Chase & Co. Decreases Holdings in The Timken Company (NYSE:TKR)

JPMorgan Chase & Co. lowered its position in The Timken Company (NYSE:TKR) by 55.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 954,326 shares of the industrial products company’s stock after selling 1,176,277 shares during the quarter. JPMorgan Chase & Co.’s holdings in Timken were worth $68,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of TKR. Fairway Wealth LLC purchased a new stake in shares of Timken in the 4th quarter valued at $29,000. Amundi boosted its position in Timken by 25.8% during the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after buying an additional 174 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in shares of Timken during the fourth quarter valued at about $109,000. AlphaQuest LLC increased its holdings in shares of Timken by 25,983.3% in the fourth quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock worth $112,000 after buying an additional 1,559 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Timken by 88.3% in the fourth quarter. Blue Trust Inc. now owns 1,877 shares of the industrial products company’s stock worth $134,000 after buying an additional 880 shares during the period. 89.08% of the stock is currently owned by institutional investors.

Timken Price Performance

TKR stock opened at $59.88 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The Timken Company has a 1 year low of $58.26 and a 1 year high of $94.71. The firm has a 50-day moving average of $77.08 and a 200 day moving average of $77.86. The company has a market cap of $4.19 billion, a P/E ratio of 12.00, a PEG ratio of 1.51 and a beta of 1.28.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts forecast that The Timken Company will post 5.62 EPS for the current year.

Timken Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Tuesday, February 25th. Timken’s dividend payout ratio (DPR) is presently 27.25%.

Insider Transactions at Timken

In related news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 8.70% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on TKR. Morgan Stanley raised their price target on Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. The Goldman Sachs Group decreased their target price on shares of Timken from $85.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday. Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and upped their price target for the company from $73.00 to $78.00 in a report on Tuesday, February 4th. Citigroup cut their price target on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Evercore ISI upped their price objective on shares of Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.82.

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.