Coastline Trust Co Buys Shares of 341 The Timken Company (NYSE:TKR)

Coastline Trust Co purchased a new position in The Timken Company (NYSE:TKR) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 341 shares of the industrial products company’s stock, valued at approximately $29,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Timken by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock valued at $569,691,000 after buying an additional 347,794 shares during the period. American Century Companies Inc. boosted its holdings in shares of Timken by 4.8% in the second quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock valued at $225,750,000 after purchasing an additional 128,791 shares during the period. Dimensional Fund Advisors LP grew its stake in Timken by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock worth $168,667,000 after purchasing an additional 97,550 shares in the last quarter. Earnest Partners LLC increased its holdings in Timken by 2.1% during the 2nd quarter. Earnest Partners LLC now owns 1,322,312 shares of the industrial products company’s stock worth $105,957,000 after purchasing an additional 26,671 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Timken by 0.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 529,161 shares of the industrial products company’s stock valued at $42,402,000 after purchasing an additional 3,462 shares in the last quarter. 89.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TKR has been the topic of a number of recent research reports. DA Davidson dropped their price target on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. 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. 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 research report on Wednesday, November 13th. Citigroup initiated coverage on shares of Timken in a research report on Monday, October 14th. They issued a “neutral” rating and a $90.00 price target for the company. Finally, KeyCorp cut their price objective on shares of Timken from $104.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $90.00.

Insider Buying and Selling

In other news, Director Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction 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 sale, the director now directly owns 194,485 shares of the company’s stock, valued at $14,895,606.15. This represents a 13.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.70% of the stock is owned by corporate insiders.

Timken Stock Up 0.8 %

NYSE:TKR opened at $75.59 on Monday. The company’s 50 day moving average is $81.89 and its two-hundred day moving average is $83.33. The company has a market cap of $5.30 billion, a PE ratio of 15.72, a P/E/G ratio of 1.12 and a beta of 1.43. The Timken Company has a twelve month low of $71.57 and a twelve month 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 released its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Timken’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.55 earnings per share. Analysts anticipate that The Timken Company will post 5.61 EPS for the current year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors 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 dividend on an annualized basis and a yield of 1.80%. Timken’s dividend payout ratio is currently 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.