Intech Investment Management LLC Sells 1,883 Shares of The Timken Company (NYSE:TKR)

Intech Investment Management LLC lessened its stake in shares of The Timken Company (NYSE:TKR) by 36.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,307 shares of the industrial products company’s stock after selling 1,883 shares during the period. Intech Investment Management LLC’s holdings in Timken were worth $279,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Creative Planning increased its stake in Timken by 1.7% during the 2nd quarter. Creative Planning now owns 9,123 shares of the industrial products company’s stock worth $731,000 after acquiring an additional 150 shares during the period. Beese Fulmer Investment Management Inc. increased its stake in shares of Timken by 1.0% in the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company’s stock valued at $1,282,000 after purchasing an additional 155 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Timken by 20.0% in the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 166 shares during the last quarter. UMB Bank n.a. increased its stake 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 valued at $36,000 after purchasing an additional 168 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its stake in shares of Timken by 3.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 4,539 shares of the industrial products company’s stock valued at $383,000 after purchasing an additional 168 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

Insider Activity

In other news, Director Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the transaction, the director now directly owns 194,485 shares of the company’s stock, valued at $14,895,606.15. This represents a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.70% of the stock is currently owned by corporate insiders.

Timken Stock Performance

Shares of TKR opened at $77.27 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The stock has a 50 day moving average price of $80.72 and a two-hundred day moving average price of $82.09. The firm has a market capitalization of $5.42 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.16 and a beta of 1.38. The Timken Company has a 52 week low of $72.35 and a 52 week high of $94.71.

Timken (NYSE:TKR) last issued its quarterly earnings data 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). The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.55 earnings per share. Equities analysts forecast that The Timken Company will post 5.61 earnings per share for the current fiscal year.

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Tuesday, November 19th. Timken’s dividend payout ratio is presently 28.27%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TKR shares. Oppenheimer decreased their price target on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Citigroup assumed coverage on Timken in a research report on Monday, October 14th. They set a “neutral” rating and a $90.00 price objective on the stock. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $87.00 to $91.00 in a research report on Wednesday, November 13th. KeyCorp restated a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Finally, DA Davidson reduced their price objective on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $90.00.

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.