Executive Wealth Management LLC Takes Position in The Timken Company (NYSE:TKR)

Executive Wealth Management LLC purchased a new stake in shares of The Timken Company (NYSE:TKR) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,714 shares of the industrial products company’s stock, valued at approximately $229,000.

Other hedge funds have also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Timken by 34.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock worth $143,376,000 after acquiring an additional 434,800 shares during the period. Verition Fund Management LLC lifted its stake in shares of Timken by 3,179.1% in the third quarter. Verition Fund Management LLC now owns 193,858 shares of the industrial products company’s stock worth $16,340,000 after acquiring an additional 187,946 shares during the period. American Century Companies Inc. lifted its stake in shares of Timken by 4.8% in the second quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock worth $225,750,000 after acquiring an additional 128,791 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Timken by 4.2% in the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock worth $225,880,000 after acquiring an additional 107,350 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Timken by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock worth $168,667,000 after acquiring an additional 97,550 shares during the period. 89.08% of the stock is owned by institutional investors and hedge funds.

Timken Stock Down 1.0 %

Shares of NYSE:TKR opened at $77.67 on Wednesday. The company has a market capitalization of $5.45 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 1.13 and a beta of 1.38. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. The business has a fifty day moving average price of $80.04 and a two-hundred day moving average price of $81.65. The Timken Company has a 1 year low of $72.35 and a 1 year high of $94.71.

Timken (NYSE:TKR) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) 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 net margin of 7.41% and a return on equity of 14.82%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 EPS. Analysts forecast that The Timken Company will post 5.61 earnings per share for the current year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were paid a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a yield of 1.75%. Timken’s dividend payout ratio (DPR) is presently 28.27%.

Wall Street Analyst Weigh In

TKR has been the topic of several recent analyst reports. Oppenheimer dropped 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 raised Timken from a “neutral” rating to a “buy” rating and boosted their price target for the company from $85.00 to $90.00 in a research note on Monday. KeyCorp reissued a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. DA Davidson lowered their target price on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, Evercore ISI raised Timken from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $87.00 to $91.00 in a research report on Wednesday, November 13th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Timken presently has an average rating of “Moderate Buy” and an average target price of $91.00.

Insider Buying and Selling at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the completion of the transaction, the director now owns 194,485 shares in the company, valued at approximately $14,895,606.15. This represents a 13.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.70% of the company’s stock.

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.