Choreo LLC Has $219,000 Stock Position in The Timken Company (NYSE:TKR)

Choreo LLC lowered its position in shares of The Timken Company (NYSE:TKR) by 44.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,081 shares of the industrial products company’s stock after selling 2,496 shares during the quarter. Choreo LLC’s holdings in Timken were worth $219,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Coastline Trust Co acquired a new stake in shares of Timken during the 3rd quarter worth approximately $29,000. Livelsberger Financial Advisory acquired a new stake in shares of Timken during the 3rd quarter worth approximately $32,000. Brooklyn Investment Group acquired a new stake in shares of Timken during the 3rd quarter worth approximately $74,000. Blue Trust Inc. grew its position in shares of Timken by 20.0% during the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock worth $80,000 after buying an additional 166 shares during the period. Finally, Venturi Wealth Management LLC grew its position in shares of Timken by 230.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock worth $92,000 after buying an additional 759 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TKR shares. DA Davidson lowered their price target on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. KeyCorp reissued a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $73.00 to $78.00 in a research note on Tuesday, February 4th. Oppenheimer reduced their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $80.00 to $95.00 in a research note on Friday, December 6th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.60.

Timken Price Performance

Shares of TKR opened at $83.09 on Friday. The Timken Company has a 12-month low of $69.35 and a 12-month high of $94.71. The business’s fifty day moving average is $76.01 and its 200 day moving average is $79.32. The company has a quick ratio of 1.62, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The stock has a market cap of $5.83 billion, a P/E ratio of 16.65, a P/E/G ratio of 1.21 and a beta of 1.39.

Timken (NYSE:TKR) last issued 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 return on equity of 13.93% and a net margin of 7.71%. Sell-side analysts anticipate that The Timken Company will post 5.6 earnings per share for the current fiscal year.

Timken Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Tuesday, February 25th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.64%. Timken’s dividend payout ratio (DPR) is currently 27.25%.

Insider Buying and Selling

In other news, CFO Philip D. Fracassa sold 5,000 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $81.50, for a total transaction of $407,500.00. Following the sale, the chief financial officer now directly owns 90,541 shares in the company, valued at $7,379,091.50. This represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 8.70% of the stock is currently owned by insiders.

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.