Intrust Bank NA Sells 326 Shares of The Timken Company (NYSE:TKR)

Intrust Bank NA trimmed its position in shares of The Timken Company (NYSE:TKR) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,665 shares of the industrial products company’s stock after selling 326 shares during the period. Intrust Bank NA’s holdings in Timken were worth $404,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TKR. Vanguard Group Inc. raised its holdings in Timken by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,465,760 shares of the industrial products company’s stock valued at $461,461,000 after acquiring an additional 26,973 shares during the period. American Century Companies Inc. raised its stake in Timken by 11.3% during the 4th quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company’s stock valued at $225,436,000 after purchasing an additional 320,354 shares during the period. State Street Corp lifted its holdings in Timken by 3.5% in the 3rd quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock worth $164,689,000 after purchasing an additional 66,208 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Timken by 34.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock worth $143,376,000 after purchasing an additional 434,800 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Timken by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,073,123 shares of the industrial products company’s stock valued at $90,477,000 after buying an additional 5,970 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and boosted their target price for the stock from $80.00 to $95.00 in a report on Friday, December 6th. Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $73.00 to $78.00 in a research report on Tuesday, February 4th. Citigroup decreased their target price on Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Morgan Stanley raised their price target on Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, Evercore ISI upped their price objective on Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Timken presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.70.

Insider Buying and Selling at Timken

In related news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the transaction, the chief financial officer now owns 90,541 shares in the company, valued at $7,379,091.50. The trade was a 5.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.70% of the company’s stock.

Timken Stock Performance

NYSE TKR opened at $71.95 on Monday. The company has a market cap of $5.04 billion, a P/E ratio of 14.42, a P/E/G ratio of 1.51 and a beta of 1.37. The business’s 50 day moving average price is $78.08 and its 200-day moving average price is $78.29. The Timken Company has a fifty-two week low of $69.35 and a fifty-two week high of $94.71. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 3.07.

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

Timken Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken’s payout ratio is currently 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.