Corient Private Wealth LLC Sells 3,230 Shares of The Timken Company (NYSE:TKR)

Corient Private Wealth LLC reduced its stake in shares of The Timken Company (NYSE:TKR) by 39.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,909 shares of the industrial products company’s stock after selling 3,230 shares during the period. Corient Private Wealth LLC’s holdings in Timken were worth $350,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of TKR. Fairway Wealth LLC bought a new stake in Timken during the fourth quarter worth $29,000. Amundi boosted its holdings in Timken by 25.8% during the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 174 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Timken in the 4th quarter worth $109,000. AlphaQuest LLC grew its stake in shares of Timken by 25,983.3% in the 4th quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock worth $112,000 after acquiring an additional 1,559 shares in the last quarter. Finally, Blue Trust Inc. raised 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 valued at $134,000 after purchasing an additional 880 shares during the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TKR has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on shares of Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Evercore ISI upped their target price on Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and increased their price target for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Jefferies Financial Group raised Timken from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $80.00 to $95.00 in a research report on Friday, December 6th. Finally, Citigroup decreased their target price on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $92.70.

Insider Activity at Timken

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 owned by company insiders.

Timken Stock Performance

Shares of TKR opened at $71.95 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The firm has a market cap of $5.04 billion, a PE ratio of 14.42, a PEG ratio of 1.51 and a beta of 1.37. The Timken Company has a 1 year low of $69.35 and a 1 year high of $94.71. The stock’s fifty day moving average price is $78.08 and its two-hundred day moving average price is $78.29.

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 return on equity of 13.93% and a net margin of 7.71%. On average, equities research analysts forecast that The Timken Company will post 5.62 EPS for the current year.

Timken Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken’s dividend payout ratio (DPR) is presently 27.25%.

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.