D.A. Davidson & CO. Acquires 7,406 Shares of The Timken Company (NYSE:TKR)

D.A. Davidson & CO. lifted its holdings in shares of The Timken Company (NYSE:TKR) by 14.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,588 shares of the industrial products company’s stock after buying an additional 7,406 shares during the quarter. D.A. Davidson & CO. owned about 0.08% of Timken worth $4,938,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. grew its holdings in Timken by 4.8% during the 2nd 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 grew its stake in shares of Timken by 4.2% during 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 purchasing an additional 107,350 shares during the period. Dimensional Fund Advisors LP increased its holdings in 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 valued at $168,667,000 after purchasing an additional 97,550 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Timken in the second quarter valued at about $6,897,000. Finally, Royce & Associates LP grew its position in shares of Timken by 73.2% during the 3rd quarter. Royce & Associates LP now owns 190,456 shares of the industrial products company’s stock worth $16,054,000 after buying an additional 80,513 shares during the period. 89.08% of the stock is owned by institutional investors.

Timken Stock Up 0.3 %

NYSE:TKR opened at $76.80 on Thursday. The stock has a 50-day simple moving average of $81.29 and a 200 day simple moving average of $82.60. The Timken Company has a 52-week low of $71.57 and a 52-week high of $94.71. The company has a market cap of $5.39 billion, a PE ratio of 15.97, a PEG ratio of 1.15 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00.

Timken (NYSE:TKR) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Timken had a return on equity of 14.82% and a net margin of 7.41%. Timken’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.55 earnings per share. On average, sell-side analysts expect that The Timken Company will post 5.61 EPS for the current fiscal year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.34 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.77%. Timken’s dividend payout ratio is 28.27%.

Insider Activity

In other news, Director Richard G. Kyle sold 30,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the sale, the director now owns 194,485 shares of the company’s stock, valued at approximately $14,895,606.15. This represents a 13.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TKR. Citigroup initiated coverage on shares of Timken in a research report on Monday, October 14th. They issued a “neutral” rating and a $90.00 price target on the stock. KeyCorp reissued a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. DA Davidson lowered their price objective on shares of Timken from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Oppenheimer reduced their target price on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, Evercore ISI upgraded Timken from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $87.00 to $91.00 in a report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Timken currently has a consensus rating of “Hold” and a consensus price target of $90.00.

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.