Beese Fulmer Investment Management Inc. Cuts Stock Holdings in The Timken Company (NYSE:TKR)

Beese Fulmer Investment Management Inc. reduced its position in shares of The Timken Company (NYSE:TKR) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,846 shares of the industrial products company’s stock after selling 362 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Timken were worth $1,060,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Retirement Systems of Alabama boosted its holdings in Timken by 4.4% in the fourth quarter. Retirement Systems of Alabama now owns 184,387 shares of the industrial products company’s stock worth $13,160,000 after acquiring an additional 7,744 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Timken by 2.6% during the 4th quarter. Pacer Advisors Inc. now owns 9,507 shares of the industrial products company’s stock worth $679,000 after acquiring an additional 237 shares during the last quarter. KBC Group NV lifted its position in shares of Timken by 83.6% during the 4th quarter. KBC Group NV now owns 3,114 shares of the industrial products company’s stock valued at $222,000 after buying an additional 1,418 shares in the last quarter. Blue Trust Inc. raised its position in shares of Timken by 107.5% during the 4th quarter. Blue Trust Inc. now owns 2,069 shares of the industrial products company’s stock valued at $148,000 after purchasing an additional 1,072 shares during the period. Finally, Olstein Capital Management L.P. boosted its stake in shares of Timken by 17.2% in the fourth quarter. Olstein Capital Management L.P. now owns 17,000 shares of the industrial products company’s stock worth $1,213,000 after acquiring an additional 2,500 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

Timken Trading Down 0.5 %

Shares of Timken stock opened at $81.27 on Friday. The company’s 50-day simple moving average is $75.39 and its 200-day simple moving average is $79.42. The Timken Company has a 52-week low of $69.35 and a 52-week high of $94.71. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 16.90, a price-to-earnings-growth ratio of 1.04 and a beta of 1.39. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71.

Timken (NYSE:TKR) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.08. Timken had a return on equity of 14.82% and a net margin of 7.41%. As a group, equities research analysts anticipate that The Timken Company will post 5.61 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Evercore ISI raised shares of Timken from an “in-line” rating to an “outperform” rating and raised their target price for the company from $87.00 to $91.00 in a report on Wednesday, November 13th. KeyCorp reissued a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Oppenheimer lowered their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Citigroup reduced their target price on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Morgan Stanley upgraded Timken from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $82.00 to $93.00 in a report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $91.50.

Timken 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.