Orion Portfolio Solutions LLC Lowers Position in The Timken Company (NYSE:TKR)

Orion Portfolio Solutions LLC decreased its holdings in shares of The Timken Company (NYSE:TKR) by 10.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 25,419 shares of the industrial products company’s stock after selling 3,036 shares during the period. Orion Portfolio Solutions LLC’s holdings in Timken were worth $1,814,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. M&T Bank Corp boosted its stake in shares of Timken by 0.6% during the third quarter. M&T Bank Corp now owns 24,482 shares of the industrial products company’s stock valued at $2,064,000 after purchasing an additional 144 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Timken by 8.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company’s stock valued at $141,000 after acquiring an additional 158 shares during the period. Amundi raised its position in shares of Timken by 25.8% in the 4th quarter. Amundi now owns 848 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 174 shares in the last quarter. WESCAP Management Group Inc. lifted its stake in shares of Timken by 1.1% during the 3rd quarter. WESCAP Management Group Inc. now owns 17,433 shares of the industrial products company’s stock worth $1,469,000 after purchasing an additional 186 shares during the last quarter. Finally, Sheets Smith Wealth Management boosted its position in Timken by 3.4% during the fourth quarter. Sheets Smith Wealth Management now owns 5,856 shares of the industrial products company’s stock valued at $418,000 after purchasing an additional 190 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

Analysts Set New Price Targets

TKR has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Citigroup lowered their target price on shares of Timken from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group reaffirmed a “hold” rating and set a $70.00 price target (down from $90.00) on shares of Timken in a research report on Wednesday. Bank of America raised Timken from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $73.00 to $78.00 in a research report on Tuesday, February 4th. Finally, Evercore ISI upped their target price on Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.82.

Insiders Place Their Bets

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 90,541 shares in the company, valued at approximately $7,379,091.50. This represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.70% of the company’s stock.

Timken Price Performance

Shares of NYSE TKR opened at $70.52 on Thursday. The Timken Company has a 52 week low of $66.76 and a 52 week high of $94.71. The business’s 50 day moving average price is $77.68 and its 200 day moving average price is $78.11. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The firm has a market cap of $4.94 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.51 and a beta of 1.37.

Timken (NYSE:TKR) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, topping 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%. On average, sell-side analysts expect that The Timken Company will post 5.62 earnings per share for the current year.

Timken Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 25th were paid a $0.34 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.93%. Timken’s payout ratio is 27.25%.

Timken Company 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.