4,700 Shares in The Timken Company (NYSE:TKR) Acquired by National Bank of Canada FI

National Bank of Canada FI acquired a new stake in shares of The Timken Company (NYSE:TKR) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 4,700 shares of the industrial products company’s stock, valued at approximately $335,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fairway Wealth LLC purchased a new stake in shares of Timken in the fourth quarter worth about $29,000. Amundi raised its holdings in shares of Timken by 25.8% during the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 174 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of Timken during the 4th quarter valued at approximately $109,000. AlphaQuest LLC grew its holdings in shares of Timken by 25,983.3% in the fourth quarter. AlphaQuest LLC now owns 1,565 shares of the industrial products company’s stock valued at $112,000 after purchasing an additional 1,559 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Timken by 88.3% during the fourth quarter. Blue Trust Inc. now owns 1,877 shares of the industrial products company’s stock valued at $134,000 after purchasing an additional 880 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TKR. Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $73.00 to $78.00 in a research note on Tuesday, February 4th. Jefferies Financial Group reiterated a “hold” rating and issued a $70.00 price target (down previously from $90.00) on shares of Timken in a research report on Wednesday, April 2nd. Evercore ISI upped their price objective on Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Citigroup dropped their target price on Timken from $95.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday. Finally, The Goldman Sachs Group decreased their price target on Timken from $85.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $87.45.

Insiders Place Their Bets

In other news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the completion of the sale, the chief financial officer now owns 90,541 shares in the company, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 8.70% of the company’s stock.

Timken Stock Down 5.4 %

NYSE:TKR opened at $60.20 on Friday. The stock has a fifty day simple moving average of $74.92 and a 200-day simple moving average of $76.92. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. The Timken Company has a twelve month low of $56.20 and a twelve month high of $94.71.

Timken (NYSE:TKR) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. Analysts anticipate that The Timken Company will post 5.62 EPS for the current year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken’s dividend payout ratio (DPR) is presently 27.25%.

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.