SG Americas Securities LLC reduced its stake in The Timken Company (NYSE:TKR – Get Rating) by 16.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,271 shares of the industrial products company’s stock after selling 2,351 shares during the quarter. SG Americas Securities LLC’s holdings in Timken were worth $867,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in TKR. CWM LLC boosted its holdings in Timken by 39.8% in the fourth quarter. CWM LLC now owns 481 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 137 shares in the last quarter. Ronald Blue Trust Inc. raised its position in shares of Timken by 28.8% in the 3rd quarter. Ronald Blue Trust Inc. now owns 818 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 183 shares during the last quarter. Quent Capital LLC boosted its stake in Timken by 66.1% in the 4th quarter. Quent Capital LLC now owns 741 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 295 shares in the last quarter. My Personal CFO LLC purchased a new stake in Timken during the 4th quarter valued at about $60,000. Finally, Point72 Hong Kong Ltd bought a new stake in Timken during the 1st quarter valued at about $76,000. Hedge funds and other institutional investors own 82.00% of the company’s stock.
Analyst Ratings Changes
A number of research firms have recently commented on TKR. The Goldman Sachs Group increased their price target on shares of Timken from $70.00 to $79.00 and gave the company a “neutral” rating in a report on Wednesday, February 8th. KeyCorp increased their target price on Timken from $88.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, February 7th. Oppenheimer boosted their price target on Timken from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 7th. Jefferies Financial Group increased their price objective on Timken from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, March 6th. Finally, StockNews.com started coverage on Timken in a research report on Thursday, March 16th. They issued a “strong-buy” rating for the company. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.75.
Timken Stock Performance
Timken (NYSE:TKR – Get Rating) last announced its earnings results on Monday, February 6th. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.13. Timken had a return on equity of 19.52% and a net margin of 9.06%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the firm posted $0.78 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, sell-side analysts anticipate that The Timken Company will post 6.93 EPS for the current year.
Timken Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 6th. Shareholders of record on Tuesday, February 21st were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, February 17th. This represents a $1.24 dividend on an annualized basis and a yield of 1.61%. Timken’s dividend payout ratio is currently 22.63%.
Insiders Place Their Bets
In other news, CEO Richard G. Kyle sold 24,841 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $85.97, for a total transaction of $2,135,580.77. Following the completion of the sale, the chief executive officer now owns 383,082 shares of the company’s stock, valued at approximately $32,933,559.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 9.89% of the company’s stock.
Timken Company Profile
The Timken Co engages in the engineering, manufacturing, and marketing of bearings and industrial motion products. In addition to bearings, it offers drives, belts, chains, lubrication systems, couplings, industrial clutches, and brakes. It operates through the Mobile and Process Industries segments.
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