First Horizon Advisors Inc. Buys 258 Shares of The Timken Company (NYSE:TKR)

First Horizon Advisors Inc. increased its stake in shares of The Timken Company (NYSE:TKR) by 16.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,823 shares of the industrial products company’s stock after acquiring an additional 258 shares during the period. First Horizon Advisors Inc.’s holdings in Timken were worth $154,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Creative Planning lifted its stake in Timken by 1.7% in the 2nd quarter. Creative Planning now owns 9,123 shares of the industrial products company’s stock valued at $731,000 after purchasing an additional 150 shares during the last quarter. Beese Fulmer Investment Management Inc. lifted its position in shares of Timken by 1.0% in the third quarter. Beese Fulmer Investment Management Inc. now owns 15,208 shares of the industrial products company’s stock valued at $1,282,000 after buying an additional 155 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Timken by 20.0% during the 3rd quarter. Blue Trust Inc. now owns 997 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 166 shares during the period. UMB Bank n.a. increased its holdings in shares of Timken by 64.1% during the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 168 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its holdings in shares of Timken by 3.8% during the 3rd quarter. Verdence Capital Advisors LLC now owns 4,539 shares of the industrial products company’s stock worth $383,000 after acquiring an additional 168 shares during the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TKR shares. Oppenheimer reduced their price objective on shares of Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. DA Davidson decreased their price target on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $87.00 to $91.00 in a research report on Wednesday, November 13th. KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a research report on Friday. Finally, Citigroup started coverage on Timken in a report on Monday, October 14th. They set a “neutral” rating and a $90.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $90.00.

Insider Activity

In related news, Director Richard G. Kyle sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the transaction, the director now owns 194,485 shares in the company, valued at $14,895,606.15. This trade represents a 13.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.70% of the company’s stock.

Timken Trading Up 1.0 %

TKR opened at $75.96 on Friday. The company’s 50 day moving average is $81.45 and its 200-day moving average is $82.85. The company has a market cap of $5.33 billion, a P/E ratio of 15.79, a PEG ratio of 1.12 and a beta of 1.43. The Timken Company has a 1-year low of $71.57 and a 1-year high of $94.71. The company has a current ratio of 3.00, a quick ratio of 1.62 and a debt-to-equity ratio of 0.71.

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

Timken Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be given a $0.34 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.79%. Timken’s dividend payout ratio is presently 28.27%.

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.