First Horizon Advisors Inc. Acquires 158 Shares of The Timken Company (NYSE:TKR)

First Horizon Advisors Inc. grew its holdings in The Timken Company (NYSE:TKR) by 8.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,981 shares of the industrial products company’s stock after purchasing an additional 158 shares during the period. First Horizon Advisors Inc.’s holdings in Timken were worth $141,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TKR. New York State Common Retirement Fund increased its stake in Timken by 1.6% in the 4th quarter. New York State Common Retirement Fund now owns 203,827 shares of the industrial products company’s stock worth $14,547,000 after buying an additional 3,116 shares during the period. Kornitzer Capital Management Inc. KS grew its stake in Timken by 66.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 6,890 shares of the industrial products company’s stock worth $492,000 after acquiring an additional 2,760 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of Timken by 1.3% during the fourth quarter. Sanctuary Advisors LLC now owns 18,922 shares of the industrial products company’s stock worth $1,350,000 after acquiring an additional 250 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Timken by 4.0% in the fourth quarter. Principal Financial Group Inc. now owns 783,560 shares of the industrial products company’s stock valued at $55,928,000 after purchasing an additional 30,411 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its holdings in shares of Timken by 22.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 28,560 shares of the industrial products company’s stock valued at $2,038,000 after purchasing an additional 5,163 shares during the period. 89.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TKR shares. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. DA Davidson cut their price target on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and raised their target price for the company from $80.00 to $95.00 in a research report on Friday, December 6th. Finally, Evercore ISI upped their price target on shares of Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.70.

Insider Activity

In related news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction that occurred on Friday, February 7th. The shares were 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 in the company, valued at $7,379,091.50. This trade represents a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.70% of the company’s stock.

Timken Trading Up 0.7 %

NYSE:TKR opened at $80.18 on Thursday. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.51 and a beta of 1.39. The Timken Company has a 52 week low of $69.35 and a 52 week high of $94.71. 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 firm has a 50 day moving average of $76.97 and a 200 day moving average of $79.31.

Timken (NYSE:TKR) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 EPS 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%. As a group, sell-side analysts anticipate that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.70%. Timken’s payout ratio is 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.