Private Advisor Group LLC Sells 3,472 Shares of The Timken Company (NYSE:TKR)

Private Advisor Group LLC lowered its stake in The Timken Company (NYSE:TKR) by 56.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,662 shares of the industrial products company’s stock after selling 3,472 shares during the period. Private Advisor Group LLC’s holdings in Timken were worth $224,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC purchased a new position in shares of Timken in the 1st quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted its stake in Timken by 1,905.6% during the first quarter. EverSource Wealth Advisors LLC now owns 361 shares of the industrial products company’s stock worth $32,000 after buying an additional 343 shares during the period. Versant Capital Management Inc bought a new position in Timken during the second quarter valued at $30,000. Livelsberger Financial Advisory purchased a new stake in shares of Timken in the third quarter valued at $32,000. Finally, UMB Bank n.a. lifted its holdings in shares of Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 168 shares during the last quarter. 89.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TKR shares. DA Davidson cut their price target on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday. KeyCorp cut their target price on Timken from $104.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday. Oppenheimer decreased their price target on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday. Evercore ISI dropped their price objective on Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Finally, Citigroup assumed coverage on Timken in a research note on Monday, October 14th. They issued a “neutral” rating and a $90.00 target price on the stock. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $89.60.

Timken Price Performance

TKR opened at $76.99 on Friday. The company has a current ratio of 2.95, a quick ratio of 1.64 and a debt-to-equity ratio of 0.72. The business’s fifty day simple moving average is $82.56 and its 200-day simple moving average is $83.82. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 1.90 and a beta of 1.43. The Timken Company has a 12-month low of $70.15 and a 12-month high of $94.71.

Timken (NYSE:TKR) last posted its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Timken had a net margin of 7.52% and a return on equity of 16.36%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the business posted $1.55 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities research analysts anticipate that The Timken Company will post 6.05 earnings per share for the current fiscal year.

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.