Aurora Investment Counsel Increases Stake in The Timken Company (NYSE:TKR)

Aurora Investment Counsel raised its position in shares of The Timken Company (NYSE:TKR) by 3.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,563 shares of the industrial products company’s stock after purchasing an additional 786 shares during the quarter. Aurora Investment Counsel’s holdings in Timken were worth $1,808,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Creative Planning increased its position 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 valued at $731,000 after acquiring an additional 150 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Timken by 3.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,661 shares of the industrial products company’s stock worth $407,000 after purchasing an additional 155 shares in the last quarter. Manchester Capital Management LLC raised its stake in shares of Timken by 51.3% in the first quarter. Manchester Capital Management LLC now owns 605 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 205 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Timken by 3.7% during the first quarter. William Blair Investment Management LLC now owns 5,896 shares of the industrial products company’s stock valued at $515,000 after purchasing an additional 213 shares in the last quarter. Finally, Kessler Investment Group LLC boosted its position in shares of Timken by 5.7% during the second quarter. Kessler Investment Group LLC now owns 4,312 shares of the industrial products company’s stock valued at $346,000 after buying an additional 234 shares during the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Transactions at Timken

In related news, CEO Richard G. Kyle sold 30,000 shares of Timken 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 transaction, the chief executive officer now owns 244,485 shares in the company, valued at approximately $19,671,263.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 8.70% of the company’s stock.

Timken Trading Down 0.8 %

Shares of TKR stock opened at $84.29 on Tuesday. 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 company has a market cap of $5.91 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.83 and a beta of 1.44. The Timken Company has a 1 year low of $65.71 and a 1 year high of $94.71. The firm has a fifty day moving average price of $82.32 and a 200-day moving average price of $84.41.

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

Timken Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were given a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.61%. Timken’s payout ratio is currently 25.90%.

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.