Harbor Capital Advisors Inc. Acquires 13,697 Shares of The Timken Company (NYSE:TKR)

Harbor Capital Advisors Inc. raised its holdings in shares of The Timken Company (NYSE:TKR) by 29.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,625 shares of the industrial products company’s stock after purchasing an additional 13,697 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Timken were worth $4,327,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Timken by 34.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock worth $143,376,000 after buying an additional 434,800 shares during the last quarter. Verition Fund Management LLC lifted its position in Timken by 3,179.1% during the third quarter. Verition Fund Management LLC now owns 193,858 shares of the industrial products company’s stock worth $16,340,000 after acquiring an additional 187,946 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Timken by 4.8% during the second quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock worth $225,750,000 after acquiring an additional 128,791 shares during the period. Thrivent Financial for Lutherans boosted its holdings 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 period. Finally, Dimensional Fund Advisors LP grew its position in shares of Timken by 4.9% in 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 purchasing an additional 97,550 shares during the last quarter. 89.08% of the stock is owned by institutional investors.

Insider Activity

In other Timken 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 value of $2,297,700.00. Following the completion of the transaction, the director now owns 194,485 shares of the company’s stock, valued at $14,895,606.15. This represents a 13.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.70% of the stock is owned by corporate insiders.

Timken Price Performance

Timken stock opened at $72.77 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.62 and a current ratio of 3.00. The Timken Company has a 52 week low of $69.35 and a 52 week high of $94.71. The stock has a market capitalization of $5.10 billion, a P/E ratio of 15.13, a price-to-earnings-growth ratio of 1.12 and a beta of 1.39. The stock has a fifty day moving average of $75.01 and a 200-day moving average of $79.99.

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

Timken Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on TKR. Citigroup upgraded Timken from a “neutral” rating to a “buy” rating and boosted their price target for the company from $85.00 to $90.00 in a research note on Monday, December 9th. Morgan Stanley upgraded shares of Timken from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $82.00 to $93.00 in a research note on Tuesday, December 17th. Oppenheimer lowered 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. KeyCorp reissued a “sector weight” rating on shares of Timken in a report on Friday, November 22nd. Finally, Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and lifted their price target for the company from $80.00 to $95.00 in a research report on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $92.90.

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.