The Timken Company (NYSE:TKR) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC decreased its holdings in The Timken Company (NYSE:TKR) by 1.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,538 shares of the industrial products company’s stock after selling 205 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Timken were worth $1,005,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. American Century Companies Inc. lifted its position in shares of Timken by 7.7% during the 3rd quarter. American Century Companies Inc. now owns 1,826,547 shares of the industrial products company’s stock valued at $134,233,000 after buying an additional 131,253 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Timken by 16.8% during the third quarter. AQR Capital Management LLC now owns 764,174 shares of the industrial products company’s stock valued at $56,159,000 after purchasing an additional 109,767 shares in the last quarter. Invesco Ltd. grew its position in shares of Timken by 31.9% in the third quarter. Invesco Ltd. now owns 680,571 shares of the industrial products company’s stock valued at $50,015,000 after purchasing an additional 164,421 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Timken by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 625,592 shares of the industrial products company’s stock worth $50,141,000 after purchasing an additional 11,057 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Timken by 2.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 562,907 shares of the industrial products company’s stock worth $41,368,000 after purchasing an additional 14,270 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Stock Performance

NYSE:TKR opened at $91.73 on Friday. The company’s 50-day moving average is $86.82 and its two-hundred day moving average is $80.73. The Timken Company has a 1-year low of $65.71 and a 1-year high of $95.08. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.02. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 1.23 and a beta of 1.51.

Timken (NYSE:TKR) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.27. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Timken had a return on equity of 17.98% and a net margin of 7.99%. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.09 earnings per share. Analysts forecast that The Timken Company will post 6.21 EPS for the current year.

Timken Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.48%. This is an increase from Timken’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Monday, May 13th. Timken’s dividend payout ratio (DPR) is presently 25.14%.

Insider Activity at Timken

In other Timken news, CFO Philip D. Fracassa sold 10,000 shares of Timken stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $89.76, for a total transaction of $897,600.00. Following the completion of 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 SEC, which is available through this hyperlink. In related news, CEO Richard G. Kyle sold 20,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $89.09, for a total transaction of $1,781,800.00. Following the transaction, the chief executive officer now owns 366,799 shares of the company’s stock, valued at approximately $32,678,122.91. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Philip D. Fracassa sold 10,000 shares of Timken 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 completion of the transaction, the chief financial officer now directly owns 105,541 shares of the company’s stock, valued at $9,473,360.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,006 shares of company stock worth $5,269,636. Company insiders own 8.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on TKR shares. StockNews.com lowered Timken from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Evercore ISI downgraded Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price objective for the company. in a research note on Tuesday, February 20th. KeyCorp lifted their target price on shares of Timken from $91.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. DA Davidson assumed coverage on shares of Timken in a research report on Tuesday, January 23rd. They issued a “buy” rating and a $92.00 target price for the company. Finally, Loop Capital boosted their price target on shares of Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. One 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. Based on data from MarketBeat.com, Timken presently has an average rating of “Hold” and a consensus target price of $87.09.

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.