Schechter Investment Advisors LLC Grows Stock Position in The Timken Company (NYSE:TKR)

Schechter Investment Advisors LLC lifted its stake in The Timken Company (NYSE:TKR) by 6.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 21,326 shares of the industrial products company’s stock after acquiring an additional 1,257 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Timken were worth $1,522,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Thrivent Financial for Lutherans grew its stake in shares of Timken by 4.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock worth $225,880,000 after purchasing an additional 107,350 shares during the period. State Street Corp boosted its holdings in Timken by 3.5% during the third quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock worth $164,689,000 after buying an additional 66,208 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Timken by 34.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock valued at $143,376,000 after buying an additional 434,800 shares during the period. Geode Capital Management LLC increased its holdings in Timken by 0.6% in the third 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. Finally, Principal Financial Group Inc. raised its position in shares of Timken by 4.0% in the fourth quarter. Principal Financial Group Inc. now owns 783,560 shares of the industrial products company’s stock worth $55,928,000 after acquiring an additional 30,411 shares during the period. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $81.50, for a total value of $407,500.00. Following the completion of the sale, the chief financial officer now owns 90,541 shares in the company, valued at approximately $7,379,091.50. This trade represents a 5.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Oppenheimer cut their price target on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Citigroup reduced their target price on Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $73.00 to $78.00 in a research note on Tuesday, February 4th. KeyCorp reiterated a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Finally, Morgan Stanley boosted their price objective on Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Timken has a consensus rating of “Moderate Buy” and an average price target of $92.70.

Timken Trading Down 4.4 %

Shares of Timken stock opened at $77.44 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.07 and a quick ratio of 1.61. The stock’s 50 day simple moving average is $77.45 and its 200-day simple moving average is $79.24. The stock has a market cap of $5.42 billion, a P/E ratio of 15.52, a P/E/G ratio of 1.51 and a beta of 1.39. The Timken Company has a 1-year low of $69.35 and a 1-year high of $94.71.

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

Timken Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Tuesday, February 25th. Timken’s dividend payout ratio is presently 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.