Horizon Investments LLC Takes Position in Timken Company (The) $TKR

Horizon Investments LLC purchased a new stake in Timken Company (The) (NYSE:TKR) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 19,488 shares of the industrial products company’s stock, valued at approximately $1,640,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Danske Bank A S raised its stake in shares of Timken by 50.0% in the 4th quarter. Danske Bank A S now owns 900 shares of the industrial products company’s stock valued at $76,000 after acquiring an additional 300 shares during the period. State of New Jersey Common Pension Fund D raised its stake in shares of Timken by 2.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 29,017 shares of the industrial products company’s stock valued at $2,441,000 after acquiring an additional 777 shares during the period. Wealth High Governance Capital Ltda purchased a new stake in shares of Timken in the 4th quarter valued at approximately $16,429,000. Keybank National Association OH raised its stake in shares of Timken by 17.8% in the 4th quarter. Keybank National Association OH now owns 857,235 shares of the industrial products company’s stock valued at $72,119,000 after acquiring an additional 129,458 shares during the period. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Timken in the 4th quarter valued at approximately $129,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Timken

In other news, Director Richard G. Kyle sold 19,636 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $107.99, for a total value of $2,120,491.64. Following the sale, the director directly owned 243,636 shares in the company, valued at approximately $26,310,251.64. This trade represents a 7.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Timken from $116.00 to $119.00 and gave the company an “overweight” rating in a research note on Monday, March 30th. Wall Street Zen raised shares of Timken from a “hold” rating to a “buy” rating in a research note on Sunday, March 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Timken in a research note on Monday, April 20th. Oppenheimer upped their target price on shares of Timken from $108.00 to $117.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $100.00 target price on shares of Timken in a research note on Thursday, March 26th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Timken currently has an average rating of “Hold” and a consensus target price of $105.86.

Timken Price Performance

Shares of TKR opened at $109.54 on Wednesday. Timken Company has a fifty-two week low of $65.49 and a fifty-two week high of $111.64. The firm’s 50 day moving average price is $103.66 and its 200 day moving average price is $93.04. The company has a market cap of $7.64 billion, a P/E ratio of 26.65, a PEG ratio of 1.56 and a beta of 1.18. The company has a quick ratio of 1.47, a current ratio of 2.82 and a debt-to-equity ratio of 0.56.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, February 4th. The industrial products company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.05. Timken had a net margin of 6.29% and a return on equity of 11.52%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm earned $1.16 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, research analysts forecast that Timken Company will post 5.9 earnings per share for the current fiscal year.

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Tuesday, February 24th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Tuesday, February 24th. Timken’s dividend payout ratio (DPR) is presently 34.06%.

Timken Company Profile

The Timken Company is a global manufacturer specializing in engineered bearings and mechanical power transmission products. Its core offerings include tapered and cylindrical roller bearings, spherical and plain bearings, mounted bearing units, and precision gear drives. Timken’s products serve a broad range of industries, from industrial machinery and aerospace to automotive, rail, wind energy and heavy equipment.

Beyond bearings, Timken’s portfolio extends to industrial chains, belts, couplings and related components designed to optimize power transmission systems.