Park Avenue Securities LLC Raises Stake in The Timken Company (NYSE:TKR)

Park Avenue Securities LLC grew its holdings in The Timken Company (NYSE:TKR) by 13.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,093 shares of the industrial products company’s stock after buying an additional 371 shares during the period. Park Avenue Securities LLC’s holdings in Timken were worth $221,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TKR. M&T Bank Corp raised its stake in Timken by 0.6% during the 3rd quarter. M&T Bank Corp now owns 24,482 shares of the industrial products company’s stock valued at $2,064,000 after acquiring an additional 144 shares during the last quarter. Creative Planning raised its stake in shares of Timken by 1.7% during the second quarter. Creative Planning now owns 9,123 shares of the industrial products company’s stock worth $731,000 after purchasing an additional 150 shares during the last quarter. Beese Fulmer Investment Management Inc. raised its stake in shares of Timken by 1.0% during the third quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company’s stock worth $1,282,000 after purchasing an additional 155 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Timken by 20.0% during the third quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 166 shares during the period. Finally, UMB Bank n.a. grew its position in Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after buying an additional 168 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TKR. Citigroup reduced their target price on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Morgan Stanley upgraded shares of Timken from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $82.00 to $93.00 in a research report on Tuesday, December 17th. Oppenheimer dropped their target price on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. DA Davidson reduced their price target on Timken from $103.00 to $99.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Jefferies Financial Group raised Timken from a “hold” rating to a “buy” rating and upped their price objective for the stock from $80.00 to $95.00 in a report on Friday, December 6th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Timken has a consensus rating of “Moderate Buy” and an average price target of $92.40.

Insider Buying and Selling

In related news, Director Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the sale, the director now owns 194,485 shares in the company, valued at approximately $14,895,606.15. This trade represents a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.70% of the stock is currently owned by company insiders.

Timken Stock Performance

NYSE:TKR opened at $76.61 on Monday. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $5.37 billion, a P/E ratio of 15.93, a price-to-earnings-growth ratio of 0.99 and a beta of 1.39. The firm has a 50-day moving average price of $74.79 and a two-hundred day moving average price of $79.71. The Timken Company has a twelve month low of $69.35 and a twelve month high of $94.71.

Timken (NYSE:TKR) last issued its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the business earned $1.55 earnings per share. As a group, research analysts expect that The Timken Company will post 5.61 earnings per share for the current fiscal year.

Timken Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Tuesday, November 19th. Timken’s payout ratio is currently 28.27%.

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.