Harbor Capital Advisors Inc. Has $4.33 Million Stock Position in The Timken Company (NYSE:TKR)

Harbor Capital Advisors Inc. boosted its stake in shares of The Timken Company (NYSE:TKR) by 29.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 60,625 shares of the industrial products company’s stock after acquiring an additional 13,697 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.09% of Timken worth $4,327,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. American Century Companies Inc. raised its position in Timken by 4.8% in the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock worth $225,750,000 after purchasing an additional 128,791 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Timken by 4.2% during the third quarter. Thrivent Financial for Lutherans now owns 2,679,790 shares of the industrial products company’s stock worth $225,880,000 after acquiring an additional 107,350 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Timken by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,104,910 shares of the industrial products company’s stock valued at $168,667,000 after acquiring an additional 97,550 shares during the period. State Street Corp boosted its holdings in Timken by 3.5% in the third quarter. State Street Corp now owns 1,953,838 shares of the industrial products company’s stock valued at $164,689,000 after acquiring an additional 66,208 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in Timken by 34.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock worth $143,376,000 after purchasing an additional 434,800 shares during the period. 89.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TKR. Citigroup raised shares of Timken from a “neutral” rating to a “buy” rating and raised their target price for the company from $85.00 to $90.00 in a research note on Monday, December 9th. Morgan Stanley raised shares of 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. Jefferies Financial Group raised Timken from a “hold” rating to a “buy” rating and increased their price target for the company from $80.00 to $95.00 in a research note on Friday, December 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Finally, Oppenheimer cut their target price on Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Five equities research 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.90.

Insider Transactions at Timken

In related news, Director Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 194,485 shares in the company, valued at approximately $14,895,606.15. This represents a 13.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 8.70% of the company’s stock.

Timken Stock Performance

Shares of Timken stock opened at $72.77 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 1.12 and a beta of 1.39. The Timken Company has a one year low of $69.35 and a one year high of $94.71. The stock’s 50-day moving average is $75.01 and its 200-day moving average is $79.99.

Timken (NYSE:TKR) last released its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Timken had a return on equity of 14.82% and a net margin of 7.41%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the company earned $1.55 EPS. The company’s revenue was down 1.4% compared to the same quarter last year. Equities analysts predict that The Timken Company will post 5.61 earnings per share for the current fiscal year.

Timken Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were given a dividend of $0.34 per share. The ex-dividend date was Tuesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.87%. Timken’s dividend payout ratio (DPR) is presently 28.27%.

Timken 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.