Segall Bryant & Hamill LLC Sells 18,932 Shares of The Timken Company (NYSE:TKR)

Segall Bryant & Hamill LLC cut its holdings in The Timken Company (NYSE:TKR) by 12.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 131,511 shares of the industrial products company’s stock after selling 18,932 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.19% of Timken worth $9,386,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Vestcor Inc bought a new stake in Timken in the third quarter valued at $560,000. TT International Asset Management LTD increased its stake in Timken by 1,075.2% in the 3rd quarter. TT International Asset Management LTD now owns 39,274 shares of the industrial products company’s stock valued at $3,310,000 after buying an additional 35,932 shares during the last quarter. Barclays PLC lifted its holdings in Timken by 221.6% during the third quarter. Barclays PLC now owns 86,667 shares of the industrial products company’s stock worth $7,307,000 after acquiring an additional 59,716 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of Timken by 29.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 60,625 shares of the industrial products company’s stock worth $4,327,000 after purchasing an additional 13,697 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in shares of Timken in the 3rd quarter worth about $734,000. 89.08% of the stock is currently owned by institutional investors.

Timken Price Performance

Shares of NYSE:TKR opened at $75.67 on Thursday. The company has a 50 day moving average of $78.23 and a 200 day moving average of $78.38. The company has a current ratio of 3.07, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69. The stock has a market cap of $5.30 billion, a P/E ratio of 15.16, a P/E/G ratio of 1.51 and a beta of 1.37. The Timken Company has a 12 month low of $69.35 and a 12 month high of $94.71.

Timken (NYSE:TKR) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.16 EPS 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%. As a group, sell-side analysts forecast that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were issued a $0.34 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $1.36 annualized dividend and a dividend yield of 1.80%. Timken’s payout ratio is currently 27.25%.

Analysts Set New Price Targets

TKR has been the topic of several research reports. Evercore ISI lifted their price objective on shares of Timken from $91.00 to $102.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Jefferies Financial Group raised shares of Timken from a “hold” rating to a “buy” rating and lifted their price target for the stock from $80.00 to $95.00 in a report on Friday, December 6th. Morgan Stanley raised their target price on Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Citigroup dropped their price target on Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Bank of America raised Timken from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $73.00 to $78.00 in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Timken presently has a consensus rating of “Moderate Buy” and an average price target of $92.70.

Insider Activity

In related news, CFO Philip D. Fracassa sold 5,000 shares of the firm’s 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 sale, the chief financial officer now directly owns 90,541 shares of the company’s stock, valued at $7,379,091.50. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 8.70% of the company’s stock.

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.