Wells Fargo & Company MN Sells 46,918 Shares of The Timken Company (NYSE:TKR)

Wells Fargo & Company MN cut its stake in shares of The Timken Company (NYSE:TKR) by 19.3% during the 4th quarter, HoldingsChannel reports. The firm owned 195,578 shares of the industrial products company’s stock after selling 46,918 shares during the period. Wells Fargo & Company MN’s holdings in Timken were worth $13,958,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new position in shares of Timken during the fourth quarter worth $29,000. Amundi increased its holdings in Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 174 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Timken during the fourth quarter valued at about $109,000. AlphaQuest LLC grew its holdings in shares of Timken by 25,983.3% during the fourth quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 1,559 shares during the last quarter. Finally, Blue Trust Inc. increased its stake 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 valued at $134,000 after buying an additional 880 shares during the period. Institutional investors own 89.08% of the company’s stock.

Insider Activity

In other news, CFO Philip D. Fracassa sold 5,000 shares of Timken 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 completion of the transaction, the chief financial officer now directly owns 90,541 shares in the company, valued at $7,379,091.50. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TKR shares. Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $73.00 to $78.00 in a report on Tuesday, February 4th. The Goldman Sachs Group decreased their price objective on Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Evercore ISI lifted their target price on Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Citigroup decreased their price target on Timken from $95.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Morgan Stanley lifted 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. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.45.

Timken Stock Performance

NYSE:TKR opened at $61.90 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The Timken Company has a twelve month low of $56.20 and a twelve month high of $94.71. The company has a fifty day moving average of $74.17 and a 200-day moving average of $76.56. The firm has a market capitalization of $4.33 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.51 and a beta of 1.28.

Timken (NYSE:TKR) last announced its quarterly earnings data 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 net margin of 7.71% and a return on equity of 13.93%. As a group, sell-side analysts anticipate that The Timken Company will post 5.62 EPS for the current year.

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were paid a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a yield of 2.20%. Timken’s dividend payout ratio (DPR) is presently 27.25%.

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.