The Timken Company (NYSE:TKR) Shares Sold by Avantax Planning Partners Inc.

Avantax Planning Partners Inc. trimmed its stake in The Timken Company (NYSE:TKR) by 4.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,926 shares of the industrial products company’s stock after selling 198 shares during the period. Avantax Planning Partners Inc.’s holdings in Timken were worth $315,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. Commerce Bank acquired a new position in Timken during the fourth quarter worth $474,000. Ontario Teachers Pension Plan Board boosted its holdings in Timken by 36.9% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 42,749 shares of the industrial products company’s stock valued at $3,426,000 after acquiring an additional 11,533 shares during the period. Quest Partners LLC acquired a new position in Timken in the 4th quarter valued at about $1,040,000. Trexquant Investment LP purchased a new stake in Timken during the fourth quarter worth about $596,000. Finally, Thoroughbred Financial Services LLC acquired a new stake in shares of Timken during the fourth quarter worth about $202,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Stock Down 1.0 %

Shares of Timken stock traded down $0.87 during trading hours on Friday, hitting $87.08. The company had a trading volume of 551,854 shares, compared to its average volume of 500,503. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.87 and a quick ratio of 1.02. The company’s 50-day moving average is $87.85 and its two-hundred day moving average is $82.10. The company has a market cap of $6.13 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 1.87 and a beta of 1.51. The Timken Company has a twelve month low of $65.71 and a twelve month high of $95.08.

Timken (NYSE:TKR) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.27. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Timken had a return on equity of 17.98% and a net margin of 7.99%. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.09 EPS. Analysts anticipate that The Timken Company will post 6.18 earnings per share for the current fiscal year.

Timken Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be given a dividend of $0.34 per share. The ex-dividend date is Monday, May 13th. This represents a $1.36 dividend on an annualized basis and a yield of 1.56%. This is an increase from Timken’s previous quarterly dividend of $0.33. Timken’s dividend payout ratio is presently 25.90%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TKR shares. KeyCorp upped their target price on shares of Timken from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday. Oppenheimer reiterated an “outperform” rating and issued a $100.00 target price (up from $97.00) on shares of Timken in a report on Thursday, March 21st. StockNews.com downgraded Timken from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Loop Capital boosted their price objective on Timken from $78.00 to $87.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group raised their target price on shares of Timken from $78.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $87.91.

Insider Transactions at Timken

In other news, CFO Philip D. Fracassa sold 10,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $89.76, for a total transaction of $897,600.00. Following the transaction, the chief financial officer now directly owns 105,541 shares of the company’s stock, valued at approximately $9,473,360.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Philip D. Fracassa sold 10,000 shares of Timken stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $89.76, for a total transaction of $897,600.00. Following the completion of the transaction, the chief financial officer now directly owns 105,541 shares in the company, valued at approximately $9,473,360.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christopher A. Coughlin sold 29,006 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $89.30, for a total value of $2,590,235.80. Following the sale, the executive vice president now owns 84,995 shares in the company, valued at approximately $7,590,053.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,006 shares of company stock worth $5,269,636. Company insiders own 8.70% of the company’s stock.

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.