Ashton Thomas Private Wealth LLC Acquires Shares of 6,800 The Timken Company (NYSE:TKR)

Ashton Thomas Private Wealth LLC acquired a new stake in shares of The Timken Company (NYSE:TKR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,800 shares of the industrial products company’s stock, valued at approximately $485,000.

Other institutional investors have also added to or reduced their stakes in the company. Coastline Trust Co purchased a new stake in Timken during the third quarter valued at about $29,000. Brooklyn Investment Group purchased a new stake in Timken during the third quarter valued at about $74,000. Venturi Wealth Management LLC lifted its holdings in Timken by 230.7% during the third quarter. Venturi Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock valued at $92,000 after purchasing an additional 759 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in Timken during the fourth quarter valued at about $109,000. Finally, Blue Trust Inc. lifted its holdings in Timken by 88.3% during the fourth quarter. Blue Trust Inc. now owns 1,877 shares of the industrial products company’s stock valued at $134,000 after purchasing an additional 880 shares during the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TKR shares. Bank of America raised shares of Timken from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $73.00 to $78.00 in a report on Tuesday, February 4th. Morgan Stanley upped their price target on Timken from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Jefferies Financial Group upgraded Timken from a “hold” rating to a “buy” rating and upped their price target for the company from $80.00 to $95.00 in a research report on Friday, December 6th. KeyCorp reiterated a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Finally, Citigroup decreased their price target on Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $92.70.

Timken Stock Down 2.9 %

TKR stock opened at $74.83 on Tuesday. 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’s 50 day moving average is $77.86 and its 200 day moving average is $78.99. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 1.51 and a beta of 1.37. The Timken Company has a 1-year low of $69.35 and a 1-year high of $94.71.

Timken (NYSE:TKR) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.08. Timken had a net margin of 7.71% and a return on equity of 13.93%. Sell-side analysts predict that The Timken Company will post 5.62 EPS for the current fiscal year.

Timken Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Tuesday, February 25th. Timken’s dividend payout ratio is currently 27.25%.

Insiders Place Their Bets

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $81.50, for a total value 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. This represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.70% of the stock is owned by insiders.

About Timken

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.