US Bancorp DE Boosts Stake in The Timken Company (NYSE:TKR)

US Bancorp DE lifted its holdings in The Timken Company (NYSE:TKR) by 9.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,550 shares of the industrial products company’s stock after purchasing an additional 310 shares during the period. US Bancorp DE’s holdings in Timken were worth $299,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Cubist Systematic Strategies LLC purchased a new stake in Timken in the 2nd quarter worth $4,363,000. Comerica Bank boosted its stake in shares of Timken by 13.8% in the first quarter. Comerica Bank now owns 58,945 shares of the industrial products company’s stock worth $5,154,000 after acquiring an additional 7,160 shares during the last quarter. Vanguard Group Inc. raised its stake in Timken by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock valued at $569,691,000 after purchasing an additional 347,794 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Timken by 29.4% in the 1st quarter. Russell Investments Group Ltd. now owns 138,705 shares of the industrial products company’s stock valued at $12,127,000 after purchasing an additional 31,552 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Timken by 4.8% during the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock worth $225,750,000 after purchasing an additional 128,791 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Insider Activity at Timken

In related news, Director Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the sale, the director now owns 194,485 shares in the company, valued at $14,895,606.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 8.70% of the company’s stock.

Timken Stock Down 0.2 %

Timken stock opened at $74.50 on Thursday. The company has a market capitalization of $5.22 billion, a P/E ratio of 15.49, a PEG ratio of 1.11 and a beta of 1.43. The Timken Company has a fifty-two week low of $71.57 and a fifty-two week high of $94.71. The stock has a 50-day simple moving average of $82.03 and a 200-day simple moving average of $83.53. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00.

Timken (NYSE:TKR) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the firm earned $1.55 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. Equities research analysts expect that The Timken Company will post 5.62 earnings per share for the current year.

Timken Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.83%. Timken’s dividend payout ratio is currently 28.27%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Citigroup started coverage on Timken in a research report on Monday, October 14th. They issued a “neutral” rating and a $90.00 price target for the company. Oppenheimer dropped their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $87.00 to $91.00 in a research report on Wednesday. DA Davidson reduced their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, KeyCorp reduced their price target on shares of Timken from $104.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $90.00.

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.