Summit Trail Advisors LLC Has $326,000 Stock Position in The Timken Company (NYSE:TKR)

Summit Trail Advisors LLC raised its holdings in shares of The Timken Company (NYSE:TKR) by 25.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,063 shares of the industrial products company’s stock after acquiring an additional 821 shares during the quarter. Summit Trail Advisors LLC’s holdings in Timken were worth $326,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Sheets Smith Wealth Management acquired a new position in Timken in the 4th quarter worth about $454,000. Victory Capital Management Inc. raised its holdings in shares of Timken by 0.5% during the 4th quarter. Victory Capital Management Inc. now owns 223,946 shares of the industrial products company’s stock valued at $17,949,000 after purchasing an additional 1,174 shares in the last quarter. Amica Mutual Insurance Co. lifted its stake in shares of Timken by 100.0% in the 4th quarter. Amica Mutual Insurance Co. now owns 16,264 shares of the industrial products company’s stock valued at $1,304,000 after purchasing an additional 8,132 shares during the last quarter. Van ECK Associates Corp bought a new stake in Timken in the fourth quarter worth $1,284,000. Finally, Retirement Systems of Alabama increased its position in Timken by 0.9% during the fourth quarter. Retirement Systems of Alabama now owns 176,113 shares of the industrial products company’s stock worth $14,115,000 after buying an additional 1,612 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Stock Performance

Shares of NYSE TKR opened at $89.18 on Wednesday. The Timken Company has a one year low of $65.71 and a one year high of $95.08. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $86.41 and a 200 day simple moving average of $80.35. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.21 and a beta of 1.51.

Timken (NYSE:TKR) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Timken had a net margin of 7.99% and a return on equity of 17.98%. The business’s revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.09 EPS. Sell-side analysts expect that The Timken Company will post 6.18 EPS for the current year.

Timken Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Monday, May 13th. This is a boost from Timken’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.53%. Timken’s dividend payout ratio is presently 25.14%.

Insider Buying and Selling

In other Timken news, CFO Philip D. Fracassa sold 10,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $89.76, for a total value of $897,600.00. Following the sale, the chief financial officer now directly owns 105,541 shares in the company, valued at $9,473,360.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Philip D. Fracassa sold 10,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $89.76, for a total value of $897,600.00. Following the sale, the chief financial officer now owns 105,541 shares of the company’s stock, valued at approximately $9,473,360.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Christopher A. Coughlin sold 29,006 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $89.30, for a total transaction of $2,590,235.80. Following the sale, the executive vice president now owns 84,995 shares of the company’s stock, valued at approximately $7,590,053.50. The disclosure for this sale can be found here. Insiders sold 59,006 shares of company stock worth $5,269,636 in the last 90 days. 8.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on TKR shares. DA Davidson began coverage on Timken in a research note on Tuesday, January 23rd. They set a “buy” rating and a $92.00 price target for the company. Loop Capital upped their target price on Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. StockNews.com lowered shares of Timken from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Evercore ISI downgraded shares of Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price objective for the company. in a report on Tuesday, February 20th. Finally, The Goldman Sachs Group lifted their target price on shares of Timken from $78.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $87.09.

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.