First Bank & Trust Sells 418 Shares of Timken Company (The) (NYSE:TKR)

First Bank & Trust lowered its holdings in Timken Company (The) (NYSE:TKR) by 8.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 4,628 shares of the industrial products company’s stock after selling 418 shares during the quarter. First Bank & Trust’s holdings in Timken were worth $333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Bank of New York Mellon Corp lifted its stake in shares of Timken by 7.6% in the 4th quarter. Bank of New York Mellon Corp now owns 717,278 shares of the industrial products company’s stock valued at $51,192,000 after purchasing an additional 50,519 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Timken in the 4th quarter valued at approximately $3,101,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Timken by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 653,147 shares of the industrial products company’s stock valued at $46,615,000 after purchasing an additional 3,195 shares during the period. Victory Capital Management Inc. raised its stake in Timken by 418.4% during the fourth quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company’s stock valued at $62,959,000 after buying an additional 711,979 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. raised its stake in Timken by 24.3% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 5,754 shares of the industrial products company’s stock valued at $411,000 after buying an additional 1,124 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Jefferies Financial Group restated a “hold” rating and issued a $70.00 price target (down previously from $90.00) on shares of Timken in a research note on Wednesday, April 2nd. Evercore ISI decreased their price target on Timken from $102.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, May 19th. Oppenheimer decreased their price target on Timken from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Loop Capital decreased their price target on Timken from $85.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, April 17th. Finally, The Goldman Sachs Group decreased their price target on Timken from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $79.00.

Timken Stock Up 1.7%

NYSE TKR opened at $76.75 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.71 and a current ratio of 3.15. The business has a fifty day moving average price of $70.29 and a 200 day moving average price of $72.37. The company has a market cap of $5.37 billion, a P/E ratio of 16.54, a P/E/G ratio of 1.79 and a beta of 1.27. Timken Company has a one year low of $56.20 and a one year high of $90.49.

Timken (NYSE:TKR) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.03). The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Timken had a net margin of 7.24% and a return on equity of 12.62%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.77 earnings per share. Research analysts anticipate that Timken Company will post 5.62 EPS for the current fiscal year.

Timken Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This is a boost from Timken’s previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.82%. Timken’s dividend payout ratio is currently 30.17%.

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.