Landsberg Bennett & Dubbaneh LLC Makes New $311,000 Investment in The Timken Company (NYSE:TKR)

Landsberg Bennett & Dubbaneh LLC purchased a new position in The Timken Company (NYSE:TKR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,790 shares of the industrial products company’s stock, valued at approximately $311,000.

A number of other institutional investors have also recently made changes to their positions in TKR. AGF Investments Inc. grew its holdings in The Timken by 262,539.9% in the 4th quarter. AGF Investments Inc. now owns 908,734 shares of the industrial products company’s stock worth $70,300,000 after acquiring an additional 908,388 shares during the last quarter. Norges Bank bought a new stake in The Timken in the 4th quarter worth $63,173,000. Price T Rowe Associates Inc. MD grew its holdings in The Timken by 63.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,322,646 shares of the industrial products company’s stock worth $102,320,000 after acquiring an additional 513,687 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in The Timken by 121.0% in the 4th quarter. JPMorgan Chase & Co. now owns 719,133 shares of the industrial products company’s stock worth $55,632,000 after acquiring an additional 393,679 shares during the last quarter. Finally, Bowen Hanes & Co. Inc. bought a new stake in The Timken in the 4th quarter worth $19,340,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

In other news, CFO Philip D. Fracassa sold 3,653 shares of The Timken stock in a transaction that occurred on Friday, February 19th. The shares were sold at an average price of $74.67, for a total value of $272,769.51. Following the completion of the sale, the chief financial officer now directly owns 92,913 shares in the company, valued at $6,937,813.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard G. Kyle sold 57,221 shares of The Timken stock in a transaction that occurred on Tuesday, February 9th. The stock was sold at an average price of $73.84, for a total transaction of $4,225,198.64. Following the completion of the sale, the chief executive officer now owns 244,080 shares of the company’s stock, valued at $18,022,867.20. The disclosure for this sale can be found here. Insiders sold 87,987 shares of company stock valued at $6,549,199 over the last ninety days. Corporate insiders own 11.62% of the company’s stock.

Several research firms have recently commented on TKR. Jefferies Financial Group raised their target price on shares of The Timken from $74.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, January 15th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on shares of The Timken from $75.00 to $95.00 in a research report on Thursday, January 7th. Evercore ISI cut shares of The Timken to an “outperform” rating in a research report on Tuesday, February 16th. Zacks Investment Research cut shares of The Timken from a “buy” rating to a “hold” rating and set a $88.00 target price for the company. in a research report on Wednesday, March 17th. Finally, Morgan Stanley lowered their price target on shares of The Timken from $90.00 to $87.00 and set an “equal weight” rating for the company in a research report on Monday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $91.71.

Shares of The Timken stock opened at $83.14 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.59 and a current ratio of 2.65. The stock has a market capitalization of $6.32 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 4.03 and a beta of 1.77. The Timken Company has a 52-week low of $32.58 and a 52-week high of $87.92. The company has a 50-day simple moving average of $81.92 and a two-hundred day simple moving average of $75.19.

The Timken (NYSE:TKR) last issued its earnings results on Thursday, February 4th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.09). The firm had revenue of $891.70 million during the quarter, compared to analysts’ expectations of $874.21 million. The Timken had a return on equity of 15.77% and a net margin of 9.80%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm posted $0.84 earnings per share. As a group, equities research analysts forecast that The Timken Company will post 4.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 4th. Shareholders of record on Monday, February 22nd were issued a $0.29 dividend. The ex-dividend date was Friday, February 19th. This is a boost from The Timken’s previous quarterly dividend of $0.25. This represents a $1.16 annualized dividend and a yield of 1.40%. The Timken’s payout ratio is 25.22%.

About The Timken

The Timken Company designs, manufactures, and manages engineered bearings and power transmission products and services worldwide. It operates in two segments, Mobile Industries and Process Industries. The Mobile Industries segment offers a portfolio of bearings, seals, and lubrication devices and systems, as well as power transmission components, engineered chains, augers, belts, couplings, clutches, brakes, and related products and maintenance services to original equipment manufacturers (OEMs) and end users of off-highway equipment for the agricultural, construction, mining, outdoor power equipment, and power sports markets; and on-highway vehicles, including passenger cars, light trucks, and medium- and heavy-duty trucks, as well as rail cars and locomotives.

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Institutional Ownership by Quarter for The Timken (NYSE:TKR)

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