Livforsakringsbolaget Skandia Omsesidigt Sells 5,600 Shares of The Timken Company (NYSE:TKR)

Livforsakringsbolaget Skandia Omsesidigt lessened its stake in The Timken Company (NYSE:TKR) by 25.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,700 shares of the industrial products company’s stock after selling 5,600 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Timken were worth $1,339,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TKR. Macquarie Group Ltd. lifted its stake in shares of Timken by 4,756.1% in the first quarter. Macquarie Group Ltd. now owns 854,673 shares of the industrial products company’s stock valued at $69,844,000 after buying an additional 837,073 shares during the period. Norges Bank bought a new stake in shares of Timken in the fourth quarter valued at about $43,603,000. Invesco Ltd. lifted its stake in shares of Timken by 54.9% in the first quarter. Invesco Ltd. now owns 1,588,490 shares of the industrial products company’s stock valued at $96,421,000 after buying an additional 562,930 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Timken by 520.3% in the fourth quarter. Victory Capital Management Inc. now owns 648,455 shares of the industrial products company’s stock valued at $45,826,000 after buying an additional 543,922 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Timken by 165.7% in the fourth quarter. Millennium Management LLC now owns 774,368 shares of the industrial products company’s stock valued at $54,725,000 after buying an additional 482,926 shares during the period. Institutional investors own 89.08% of the company’s stock.

Analysts Set New Price Targets

TKR has been the subject of several recent research reports. Jefferies Financial Group lowered shares of Timken from a “buy” rating to a “hold” rating and dropped their price target for the stock from $105.00 to $85.00 in a research report on Wednesday, December 20th. Morgan Stanley assumed coverage on shares of Timken in a research report on Monday, January 8th. They issued an “equal weight” rating and a $74.00 price target for the company. StockNews.com lowered shares of Timken from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Evercore ISI lowered shares of Timken from an “outperform” rating to an “in-line” rating and set a $84.00 price objective for the company. in a report on Tuesday, February 20th. Finally, The Goldman Sachs Group raised their price target on shares of Timken from $78.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $85.90.

Timken Trading Up 0.5 %

TKR opened at $84.22 on Thursday. The stock has a market capitalization of $5.93 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.17 and a beta of 1.54. The Timken Company has a 12 month low of $65.71 and a 12 month high of $95.08. The firm’s fifty day simple moving average is $84.80 and its 200 day simple moving average is $78.82. The company has a current ratio of 1.79, a quick ratio of 0.96 and a debt-to-equity ratio of 0.66.

Timken (NYSE:TKR) last posted its quarterly earnings data on Monday, February 5th. The industrial products company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.22 by $0.15. Timken had a net margin of 8.26% and a return on equity of 19.57%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the firm posted $1.22 EPS. The firm’s revenue was up .9% compared to the same quarter last year. As a group, research analysts anticipate that The Timken Company will post 6.02 EPS for the current fiscal year.

Timken Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Tuesday, February 20th were paid a $0.33 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.32 annualized dividend and a yield of 1.57%. Timken’s payout ratio is currently 24.18%.

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.