Bar Harbor Wealth Management Has $2.60 Million Stock Position in The Timken Company (NYSE:TKR)

Bar Harbor Wealth Management grew its holdings in The Timken Company (NYSE:TKR) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,376 shares of the industrial products company’s stock after purchasing an additional 547 shares during the quarter. Bar Harbor Wealth Management owned approximately 0.05% of Timken worth $2,596,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. TT International Asset Management LTD boosted its stake in Timken by 20.1% in the fourth quarter. TT International Asset Management LTD now owns 47,187 shares of the industrial products company’s stock valued at $3,367,000 after acquiring an additional 7,913 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Timken by 29.2% in 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 last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Timken by 15.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,684 shares of the industrial products company’s stock worth $477,000 after purchasing an additional 885 shares during the period. Retirement Systems of Alabama increased its holdings in Timken by 1.1% in the third quarter. Retirement Systems of Alabama now owns 176,643 shares of the industrial products company’s stock valued at $14,889,000 after purchasing an additional 1,869 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Timken by 0.5% during the third quarter. Franklin Resources Inc. now owns 41,373 shares of the industrial products company’s stock worth $3,502,000 after buying an additional 222 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

Insiders Place Their Bets

In other Timken news, Director Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the transaction, the director now owns 194,485 shares of the company’s stock, valued at $14,895,606.15. The trade was a 13.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.70% of the company’s stock.

Timken Stock Up 2.1 %

TKR traded up $1.53 during trading hours on Monday, hitting $74.15. 386,618 shares of the company’s stock were exchanged, compared to its average volume of 631,611. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The Timken Company has a 1-year low of $69.35 and a 1-year high of $94.71. The stock’s 50-day moving average is $74.80 and its two-hundred day moving average is $79.92. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.12 and a beta of 1.39.

Timken (NYSE:TKR) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the business earned $1.55 EPS. Timken’s revenue was down 1.4% on a year-over-year basis. Sell-side analysts predict that The Timken Company will post 5.61 earnings per share for the current fiscal year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were issued a dividend of $0.34 per share. The ex-dividend date was Tuesday, November 19th. This represents a $1.36 dividend on an annualized basis and a yield of 1.83%. Timken’s payout ratio is 28.27%.

Analyst Upgrades and Downgrades

TKR has been the subject of a number of recent analyst reports. Oppenheimer cut their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Citigroup raised shares of Timken from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $90.00 in a research report on Monday, December 9th. KeyCorp restated a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Morgan Stanley upgraded Timken from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $82.00 to $93.00 in a report on Tuesday, December 17th. Finally, Jefferies Financial Group upgraded Timken from a “hold” rating to a “buy” rating and increased their price target for the stock from $80.00 to $95.00 in a report on Friday, December 6th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Timken currently has an average rating of “Moderate Buy” and a consensus target price of $92.90.

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.