Gabelli Funds LLC Sells 198 Shares of The Timken Company (NYSE:TKR)

Gabelli Funds LLC trimmed its holdings in shares of The Timken Company (NYSE:TKR) by 0.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 266,322 shares of the industrial products company’s stock after selling 198 shares during the quarter. Gabelli Funds LLC owned approximately 0.38% of Timken worth $21,340,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Fidelis Capital Partners LLC purchased a new position in shares of Timken in the 1st quarter valued at $26,000. Livelsberger Financial Advisory bought a new stake in Timken during the fourth quarter valued at about $30,000. Versant Capital Management Inc purchased a new position in Timken in the second quarter valued at about $30,000. EverSource Wealth Advisors LLC raised its holdings in Timken by 1,905.6% in the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 343 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its position in shares of Timken by 51.3% during the first quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock valued at $53,000 after buying an additional 205 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TKR shares. Evercore ISI cut their price objective on shares of Timken from $94.00 to $87.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Raymond James began coverage on shares of Timken in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, DA Davidson reiterated a “buy” rating and set a $103.00 price objective on shares of Timken in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Timken presently has a consensus rating of “Hold” and a consensus target price of $89.18.

Timken Price Performance

NYSE TKR opened at $82.59 on Monday. The company has a market cap of $5.82 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 1.73 and a beta of 1.44. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.95 and a quick ratio of 1.64. The stock’s fifty day moving average price is $82.48 and its 200 day moving average price is $84.50. The Timken Company has a 1 year low of $65.71 and a 1 year high of $94.71.

Timken (NYSE:TKR) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.03. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. Timken had a return on equity of 16.36% and a net margin of 7.52%. The company’s revenue was down 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.01 earnings per share. As a group, equities research analysts forecast that The Timken Company will post 6.11 earnings per share for the current year.

Timken Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Tuesday, August 20th. Timken’s payout ratio is 25.90%.

Insider Activity

In related news, CEO Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $80.46, for a total transaction of $2,413,800.00. Following the completion of the transaction, the chief executive officer now owns 244,485 shares of the company’s stock, valued at $19,671,263.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 8.70% of the company’s stock.

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.