Bank of New York Mellon Corp Has $51.19 Million Position in The Timken Company (NYSE:TKR)

Bank of New York Mellon Corp boosted its holdings in shares of The Timken Company (NYSE:TKR) by 7.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 717,278 shares of the industrial products company’s stock after buying an additional 50,519 shares during the period. Bank of New York Mellon Corp owned approximately 1.02% of Timken worth $51,192,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Coastline Trust Co bought a new stake in shares of Timken in the 3rd quarter worth $29,000. Brooklyn Investment Group bought a new position in Timken during the third quarter worth about $74,000. Venturi Wealth Management LLC lifted its holdings in shares of Timken by 230.7% in the third 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 in the last quarter. Blue Trust Inc. lifted its holdings in shares of Timken by 88.3% in the fourth quarter. Blue Trust Inc. now owns 1,877 shares of the industrial products company’s stock worth $134,000 after buying an additional 880 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its stake in Timken by 8.7% in the fourth quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 158 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Insider Activity

In other news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction on Friday, February 7th. The stock was sold at an average price of $81.50, for a total transaction 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 approximately $7,379,091.50. This trade represents a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TKR shares. 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 note on Friday, December 6th. Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. DA Davidson reduced their target price on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Oppenheimer reduced their target price on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, Morgan Stanley upped their price target on shares of Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $92.70.

Timken Trading Up 1.6 %

Timken stock opened at $75.83 on Thursday. The firm has a 50 day moving average of $77.51 and a 200 day moving average of $79.18. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 1.51 and a beta of 1.39. The Timken Company has a 12-month low of $69.35 and a 12-month high of $94.71. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69.

Timken (NYSE:TKR) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. As a group, research analysts predict that The Timken Company will post 5.62 earnings per share for the current year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th will be given a dividend of $0.34 per share. The ex-dividend date is Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.79%. Timken’s dividend payout ratio is currently 27.25%.

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.