Thrivent Financial for Lutherans Reduces Stake in The Timken Company (NYSE:TKR)

Thrivent Financial for Lutherans reduced its stake in shares of The Timken Company (NYSE:TKR) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,605,131 shares of the industrial products company’s stock after selling 74,659 shares during the quarter. Thrivent Financial for Lutherans owned about 3.72% of Timken worth $185,928,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TKR. Coastline Trust Co bought a new position in shares of Timken during the 3rd quarter valued at approximately $29,000. Fairway Wealth LLC bought a new position in Timken during the fourth quarter valued at $29,000. Amundi increased its position in Timken by 25.8% during the fourth quarter. Amundi now owns 848 shares of the industrial products company’s stock valued at $61,000 after acquiring an additional 174 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Timken in the third quarter valued at $74,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Timken in the 4th quarter worth about $109,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Citigroup reduced their price objective on shares of Timken from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Morgan Stanley raised their price target on Timken from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. KeyCorp reaffirmed a “sector weight” rating on shares of Timken in a research report on Friday, November 22nd. Bank of America upgraded Timken from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $73.00 to $78.00 in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group upgraded shares of Timken from a “hold” rating to a “buy” rating and upped their price target for the stock from $80.00 to $95.00 in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.70.

Insider Transactions at Timken

In other news, CFO Philip D. Fracassa sold 5,000 shares of the company’s 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 sale, the chief financial officer now directly owns 90,541 shares of the company’s stock, valued at $7,379,091.50. This represents a 5.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.70% of the company’s stock.

Timken Stock Performance

Shares of TKR stock opened at $75.25 on Tuesday. The Timken Company has a 12-month low of $69.35 and a 12-month high of $94.71. The business’s fifty day simple moving average is $78.11 and its 200-day simple moving average is $78.64. 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 has a market cap of $5.27 billion, a PE ratio of 15.08, a PEG ratio of 1.51 and a beta of 1.37.

Timken (NYSE:TKR) last issued its quarterly earnings results 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 return on equity of 13.93% and a net margin of 7.71%. Analysts expect that The Timken Company will post 5.62 earnings per share for the current fiscal year.

Timken Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 25th were issued a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.81%. Timken’s dividend payout ratio is currently 27.25%.

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.