Intrust Bank NA Sells 326 Shares of The Timken Company (NYSE:TKR)

Intrust Bank NA lowered its position in The Timken Company (NYSE:TKR) by 5.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,665 shares of the industrial products company’s stock after selling 326 shares during the period. Intrust Bank NA’s holdings in Timken were worth $404,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in Timken by 418.4% in the fourth quarter. Victory Capital Management Inc. now owns 882,156 shares of the industrial products company’s stock worth $62,959,000 after purchasing an additional 711,979 shares in the last quarter. Norges Bank bought a new position in shares of Timken in the 4th quarter worth about $42,748,000. Hotchkis & Wiley Capital Management LLC lifted its position in Timken by 34.3% during the 3rd 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 acquiring an additional 434,800 shares during the period. American Century Companies Inc. boosted its stake in Timken by 11.3% during the fourth quarter. American Century Companies Inc. now owns 3,158,690 shares of the industrial products company’s stock worth $225,436,000 after acquiring an additional 320,354 shares in the last quarter. Finally, Royce & Associates LP grew its holdings in Timken by 108.9% in the fourth quarter. Royce & Associates LP now owns 397,895 shares of the industrial products company’s stock worth $28,398,000 after purchasing an additional 207,439 shares during the period. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Timken Trading Down 2.5 %

NYSE:TKR opened at $71.95 on Monday. The company has a market cap of $5.04 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 1.51 and a beta of 1.37. 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 company has a 50 day simple moving average of $78.08 and a two-hundred day simple moving average of $78.29. The Timken Company has a 12 month low of $69.35 and a 12 month high of $94.71.

Timken (NYSE:TKR) last posted its quarterly earnings data 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 return on equity of 13.93% and a net margin of 7.71%. Research analysts forecast that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 25th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Tuesday, February 25th. Timken’s payout ratio is 27.25%.

Insider Activity at Timken

In other news, CFO Philip D. Fracassa sold 5,000 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $81.50, for a total transaction of $407,500.00. Following the completion of the sale, the chief financial officer now owns 90,541 shares of the company’s stock, valued at $7,379,091.50. The trade was a 5.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 8.70% of the stock is currently owned by company insiders.

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.