Bar Harbor Wealth Management Has $2.60 Million Holdings in The Timken Company (NYSE:TKR)

Bar Harbor Wealth Management boosted its holdings in The Timken Company (NYSE:TKR) by 1.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,376 shares of the industrial products company’s stock after purchasing an additional 547 shares during the quarter. Bar Harbor Wealth Management’s holdings in Timken were worth $2,596,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TKR. Coastline Trust Co acquired a new position in Timken in the third quarter valued at about $29,000. Livelsberger Financial Advisory bought a new position in Timken in the 3rd quarter valued at about $32,000. UMB Bank n.a. raised its position in shares of Timken by 64.1% in the 3rd quarter. UMB Bank n.a. now owns 430 shares of the industrial products company’s stock valued at $36,000 after buying an additional 168 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Timken during the 2nd quarter worth approximately $44,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Timken during the 3rd quarter worth approximately $74,000. Institutional investors own 89.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TKR. Jefferies Financial Group upgraded Timken from a “hold” rating to a “buy” rating and upped their target price for the stock from $80.00 to $95.00 in a research note on Friday, December 6th. DA Davidson reduced their price objective on Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Oppenheimer lowered their target price on Timken from $102.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. KeyCorp restated a “sector weight” rating on shares of Timken in a research note on Friday, November 22nd. Finally, Citigroup upgraded shares of Timken from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $90.00 in a research report on Monday, December 9th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.90.

Timken Trading Up 2.1 %

Timken stock traded up $1.53 during mid-day trading on Monday, hitting $74.15. 386,618 shares of the stock were exchanged, compared to its average volume of 631,611. The firm’s fifty day simple moving average is $74.80 and its two-hundred day simple moving average is $79.92. The company has a quick ratio of 1.62, a current ratio of 3.00 and a debt-to-equity ratio of 0.71. The Timken Company has a 12 month low of $69.35 and a 12 month high of $94.71. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.12 and a beta of 1.39.

Timken (NYSE:TKR) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.15). The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Timken had a net margin of 7.41% and a return on equity of 14.82%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.55 EPS. Analysts forecast that The Timken Company will post 5.61 EPS for the current year.

Timken Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were paid a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.36 annualized dividend and a dividend yield of 1.83%. Timken’s dividend payout ratio is currently 28.27%.

Insider Buying and Selling

In other news, Director Richard G. Kyle sold 30,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $76.59, for a total transaction of $2,297,700.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.70% of the stock is owned by insiders.

Timken Company 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.