The Timken Company (NYSE:TKR) Shares Sold by Ellsworth Advisors LLC

Ellsworth Advisors LLC reduced its stake in shares of The Timken Company (NYSE:TKR) by 0.9% during the third quarter, Holdings Channel.com reports. The firm owned 56,734 shares of the industrial products company’s stock after selling 517 shares during the period. Ellsworth Advisors LLC’s holdings in Timken were worth $4,782,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. nVerses Capital LLC bought a new stake in shares of Timken during the 3rd quarter worth about $421,000. NBC Securities Inc. raised its holdings in Timken by 1.6% during the third quarter. NBC Securities Inc. now owns 11,531 shares of the industrial products company’s stock worth $971,000 after purchasing an additional 177 shares in the last quarter. Creative Planning lifted its position in Timken by 11.1% in the third quarter. Creative Planning now owns 10,138 shares of the industrial products company’s stock worth $855,000 after purchasing an additional 1,015 shares during the period. Inspire Investing LLC lifted its position in Timken by 12.2% in the third quarter. Inspire Investing LLC now owns 4,901 shares of the industrial products company’s stock worth $413,000 after purchasing an additional 534 shares during the period. Finally, Fiduciary Financial Group LLC boosted its stake in Timken by 8.9% during the 3rd quarter. Fiduciary Financial Group LLC now owns 4,098 shares of the industrial products company’s stock valued at $333,000 after purchasing an additional 335 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Timken Trading Up 0.7 %

Timken stock opened at $87.24 on Friday. The Timken Company has a 52 week low of $65.71 and a 52 week high of $94.71. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.64 and a current ratio of 2.95. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of 17.88, a P/E/G ratio of 1.83 and a beta of 1.43. The company has a 50 day moving average price of $82.52 and a 200 day moving average price of $84.18.

Timken (NYSE:TKR) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.60 by $0.03. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Timken had a return on equity of 16.36% and a net margin of 7.52%. Timken’s revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.01 earnings per share. Research analysts forecast that The Timken Company will post 6.08 EPS for the current year.

Timken Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 20th were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.56%. Timken’s dividend payout ratio is 27.87%.

Insider Transactions at Timken

In related news, CEO Richard G. Kyle sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $80.46, for a total transaction of $2,413,800.00. Following the transaction, the chief executive officer now directly owns 244,485 shares of the company’s stock, valued at approximately $19,671,263.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TKR shares. DA Davidson restated a “buy” rating and issued a $103.00 price objective on shares of Timken in a report on Tuesday, September 17th. Citigroup started coverage on shares of Timken in a research report on Monday. They set a “neutral” rating and a $90.00 price objective for the company. Raymond James began coverage on shares of Timken in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, Evercore ISI reduced their target price on shares of Timken from $94.00 to $87.00 and set an “in-line” rating for the company in a report on Monday, August 19th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $91.70.

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.