Pacer Advisors Inc. Purchases 237 Shares of The Timken Company (NYSE:TKR)

Pacer Advisors Inc. lifted its position in The Timken Company (NYSE:TKR) by 2.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,507 shares of the industrial products company’s stock after acquiring an additional 237 shares during the period. Pacer Advisors Inc.’s holdings in Timken were worth $679,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vestcor Inc purchased a new stake in shares of Timken in the 3rd quarter worth approximately $560,000. TT International Asset Management LTD grew its stake in shares of Timken by 1,075.2% in the 3rd quarter. TT International Asset Management LTD now owns 39,274 shares of the industrial products company’s stock worth $3,310,000 after buying an additional 35,932 shares during the last quarter. Barclays PLC grew its stake in shares of Timken by 221.6% in the 3rd quarter. Barclays PLC now owns 86,667 shares of the industrial products company’s stock worth $7,307,000 after buying an additional 59,716 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Timken in the 3rd quarter worth approximately $2,863,000. Finally, Harbor Capital Advisors Inc. boosted its stake in Timken by 29.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company’s stock valued at $4,327,000 after purchasing an additional 13,697 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

TKR has been the topic of several recent analyst reports. Citigroup cut their target price on Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $87.00 to $91.00 in a research note on Wednesday, November 13th. Jefferies Financial Group upgraded Timken from a “hold” rating to a “buy” rating and raised their price target for the stock from $80.00 to $95.00 in a research note on Friday, December 6th. KeyCorp restated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Finally, Morgan Stanley upgraded Timken from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $82.00 to $93.00 in a research note on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Timken has a consensus rating of “Moderate Buy” and a consensus price target of $92.40.

Insider Activity at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the firm’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 sale, the director now directly owns 194,485 shares of the company’s stock, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.70% of the stock is owned by corporate insiders.

Timken Stock Performance

NYSE TKR opened at $77.32 on Tuesday. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 1.04 and a beta of 1.39. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $75.15 and a 200-day moving average price of $79.42. The Timken Company has a twelve month low of $69.35 and a twelve month high of $94.71.

Timken (NYSE:TKR) last released its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The business had revenue of $1.13 billion during 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 was down 1.4% on a year-over-year basis. During the same period last year, the company earned $1.55 EPS. As a group, equities research analysts predict that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Tuesday, November 19th. Timken’s payout ratio is presently 28.27%.

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.