The Timken Company (NYSE:TKR) Position Lessened by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC cut its stake in The Timken Company (NYSE:TKR) by 45.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,103 shares of the industrial products company’s stock after selling 3,400 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Timken were worth $359,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TKR. American Century Companies Inc. lifted its position in Timken by 7.7% in the 3rd quarter. American Century Companies Inc. now owns 1,826,547 shares of the industrial products company’s stock valued at $134,233,000 after purchasing an additional 131,253 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Timken by 15.8% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,313,122 shares of the industrial products company’s stock valued at $105,247,000 after purchasing an additional 178,870 shares during the period. Fiduciary Management Inc. WI lifted its holdings in Timken by 94.7% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,133,076 shares of the industrial products company’s stock worth $90,816,000 after purchasing an additional 551,097 shares during the period. AQR Capital Management LLC increased its stake in Timken by 16.8% during the 3rd quarter. AQR Capital Management LLC now owns 764,174 shares of the industrial products company’s stock valued at $56,159,000 after buying an additional 109,767 shares during the period. Finally, Norges Bank bought a new stake in shares of Timken during the 4th quarter worth about $56,995,000. 89.08% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Christopher A. Coughlin sold 29,006 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total value of $2,590,235.80. Following the completion of the sale, the executive vice president now directly owns 84,995 shares in the company, valued at $7,590,053.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Philip D. Fracassa sold 10,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $89.76, for a total value of $897,600.00. Following the completion of the sale, the chief financial officer now directly owns 105,541 shares of the company’s stock, valued at $9,473,360.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christopher A. Coughlin sold 29,006 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the transaction, the executive vice president now directly owns 84,995 shares in the company, valued at approximately $7,590,053.50. The disclosure for this sale can be found here. Insiders sold 59,006 shares of company stock valued at $5,269,636 over the last 90 days. 8.70% of the stock is currently owned by company insiders.

Timken Stock Performance

Shares of TKR stock opened at $79.92 on Friday. The Timken Company has a fifty-two week low of $65.71 and a fifty-two week high of $95.08. The stock’s 50-day moving average is $86.30 and its two-hundred day moving average is $83.80. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.02. The firm has a market cap of $5.63 billion, a P/E ratio of 15.22, a PEG ratio of 1.70 and a beta of 1.50.

Timken (NYSE:TKR) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.27. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.15 billion. Timken had a return on equity of 17.98% and a net margin of 7.99%. The firm’s revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.09 earnings per share. Analysts predict that The Timken Company will post 6.2 earnings per share for the current fiscal year.

Timken Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.70%. This is an increase from Timken’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Monday, May 13th. Timken’s dividend payout ratio (DPR) is presently 25.90%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. KeyCorp boosted their target price on Timken from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Oppenheimer restated an “outperform” rating and issued a $100.00 price target (up previously from $97.00) on shares of Timken in a research report on Thursday, March 21st. Stifel Nicolaus raised their price objective on Timken from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Loop Capital boosted their target price on Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $87.91.

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.