Fairway Wealth LLC Acquires New Position in The Timken Company (NYSE:TKR)

Fairway Wealth LLC acquired a new stake in The Timken Company (NYSE:TKR) during the fourth quarter, Holdings Channel.com reports. The fund acquired 400 shares of the industrial products company’s stock, valued at approximately $29,000.

A number of other hedge funds have also added to or reduced their stakes in TKR. M&T Bank Corp boosted its position in Timken by 0.6% in the third quarter. M&T Bank Corp now owns 24,482 shares of the industrial products company’s stock valued at $2,064,000 after buying an additional 144 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Timken by 8.7% in the fourth quarter. First Horizon Advisors Inc. now owns 1,981 shares of the industrial products company’s stock valued at $141,000 after buying an additional 158 shares in the last quarter. Verdence Capital Advisors LLC boosted its position in Timken by 3.8% in the third quarter. Verdence Capital Advisors LLC now owns 4,539 shares of the industrial products company’s stock valued at $383,000 after buying an additional 168 shares in the last quarter. Amundi boosted its position in Timken by 25.8% in the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after buying an additional 174 shares in the last quarter. Finally, Winslow Asset Management Inc. boosted its position in Timken by 3.6% in the third quarter. Winslow Asset Management Inc. now owns 5,050 shares of the industrial products company’s stock valued at $426,000 after buying an additional 175 shares in the last quarter. 89.08% of the stock is owned by institutional investors.

Insider Buying and Selling at Timken

In other Timken news, CFO Philip D. Fracassa sold 5,000 shares of Timken stock in a transaction on Friday, February 7th. The shares were 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 directly owns 90,541 shares of the company’s stock, valued at approximately $7,379,091.50. The trade was a 5.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 8.70% of the company’s stock.

Timken Price Performance

TKR stock opened at $74.83 on Tuesday. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.51 and a beta of 1.37. The company has a quick ratio of 1.61, a current ratio of 3.07 and a debt-to-equity ratio of 0.69. The Timken Company has a 12-month low of $69.35 and a 12-month high of $94.71. The company’s fifty day simple moving average is $77.86 and its 200 day simple moving average is $78.99.

Timken (NYSE:TKR) last released its earnings results on Wednesday, February 5th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating 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%. On average, analysts expect that The Timken Company will post 5.62 earnings per share for the current year.

Timken Announces Dividend

The business also recently declared 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 (DPR) is currently 27.25%.

Wall Street Analysts Forecast Growth

TKR has been the topic of a number of research analyst reports. Evercore ISI raised their target price on shares of Timken from $91.00 to $102.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Bank of America upgraded shares of Timken from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $73.00 to $78.00 in a report on Tuesday, February 4th. Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and lifted their price target for the stock from $80.00 to $95.00 in a report on Friday, December 6th. KeyCorp reiterated a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Finally, Morgan Stanley lifted their price target on shares of Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Timken has an average rating of “Moderate Buy” and a consensus target price of $92.70.

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.